Sydney, Melbourne house prices increase in signs of market recovery

Property prices in Sydney and Melbourne are up for the first time since 2017 with analysts attributing the trend to lower mortgage rates and improved sentiment.

Family with two boys (4 and 6 years) standing in front of house with FOR SALE sign in front yard. Focus on sign. Source: Getty Images

Sydney and Melbourne house prices have shown their first monthly increase since the crest of the property boom in 2017, indicating a recovery could be in the pipeline.

Dwelling values in Australia's two most populous cities rose 0.1 per cent and 0.2 per cent respectively, according to data released Monday by property analytics firm CoreLogic.

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