The property market continues to heat up with all capital cities now recording year-on-year price increases.

Property markets have been a bit lacklustre since May last year when interest rates began their quick march upwards.

It was great news for mortgage holders that the Reserve Bank of Australia held interest rates this month.

This month in Ray White Now, Prices are now firmly on the move everywhere in Australia, having increased by 3.5 per cent since the start of the year.

This month in Ray White Now, after rising by 1.8 per cent since the start of the year, Australian house price growth took a breather, declining slightly by 0.2 per cent.