House price growth in Sydney and Melbourne increased further in March according to CoreLogic, with Sydney house prices up 19 percent compared to the same month last year and Melbourne 16 percent.
Tim Lawless, CoreLogic head of research, said the early results come after a strong rebound in housing market conditions through the latter half of 2016 and into 2017.
"The strong capital gain results are further evidenced by a continuation in low stock levels, high auction clearance rates and strong investment demand," he said.
"March's figures reflected a strong rebound in housing market conditions that picked up in the latter half of last year and continued into this year."