Home values in Sydney and Melbourne rose in January after falling in the final quarter of last year.
Based on daily results so far, CoreLogic RP Data says figures for the full month due on Monday are likely to show gains of a half per cent in Sydney and two per cent in Melbourne, but those rises are unlikely to mark the beginning of another year of steep price rises.
"Despite the higher index readings across the largest cites, it's likely that housing market conditions will track lower than what we saw over 2015," the analytics firm said.
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