The Australian housing market continues to improve, with Sydney and Melbourne once again leading the way. In their February edition of the Home Value Index, Corelogic showed a combined capital city surge of 1.1% last month.

Five of Australia’s eight capital cities have now reached a record high. Over the past 12 months, both Melbourne and Sydney now show double digit growth with 10.7 and 10.9% respectively, which is an absolute killer result and in particular, considering the time of global uncertainty.

The best performing sub-region over the past 12 months was Melbourne’s Inner East with a positive value change of 18.3%. Anyone having been involved in the property market there has done extremely well.

Melbourne also scored best with a lift in dwelling prices across the top quartile of 14.2% over the past 12 months. So it seems as though Australian property is seen as a safe option to invest in, while navigating through these uncertain times, and I agree.