Home values declined over ten consecutive months as a result of high interest rates however several factors have now led to a change in the trend.
Prices grew by 0.6 per cent in March following a drop of -0.1 per cent in February which was the tenth straight month of falls.
"With rental markets this tight, it's likely we are seeing some spill over from renting into purchasing, although, with mortgage rates so high, not everyone who wants to buy will be able to qualify for a loan. The CoreLogic Home Value Index reveals half of the country has recorded rises in the monthly values with Sydney headlining at 1.6 per cent, followed by Melbourne , Perth and Brisbane .
"In today's market it is mainly rural areas that are seeing the strongest increases, rather than the commutable coastal and lifestyle markets that were booming through the upswing," Mr Lawless said.
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