The Melbourne and Sydney property markets are the real stars according to the latest RP Data and Rismark International October housing market results.
Melbourne home values increased by 1.2% in October, 3.8% over the past three months and 8.7% for the first ten months of this year.
More impressive was the white hot market in Sydney which increased 2.4% in October, 5.5% over the past three months and a whopping 13.4% for the first 10 months of 2013.
The strength of the Melbourne and Sydney markets helped Australia wide property values increase by 1.3% in October and 8.2% year to date.
Rismark CEO, Ben Skilbeck, said that Sydney market has now eclipsed its previous cyclical high and Melbourne is near its peak.
"Brisbane remains 8.4% below its highs, however there is evidence that growth conditions may be spreading to Brisbane with home values in that city rising by 1.4% over the month and 2.6% over the past three months."
Results in other parts of the country were mixed, with Adelaide (0.3%) and Darwin (1.6%) rising over the month, while Perth (-0.2%), Hobart (-2.3%) and Canberra (-1.5%) all fell.
To view the full RP Data Rismark International results click here.