The Data-Rismark Australian Home Value Index increased by +1.4% in February on top of an upwardly revised +2% in January, meaning Australian home prices are up +12.7% compared to February 2009, the fastest pace in 25 months.

RP Data-Rismark calculated the median capital city house price across Australia at an all-time peak of A$548,413 ($502,000), with the median apartment valued at A$450,619.

The revival in prices is one reason the central bank lifted interest rates by +1% 100 since October and why some think it could hike again at its April board meeting.