While stronger over the past quarter, values in the two cities are still down over the year. House values in Sydney are off by 7.7 per cent since August last year while in Melbourne they are down by 8.7 per cent.
There was a solid lift of 1.1 per cent in Canberra house values over the month while in Hobart they increased by 0.8 per cent.
But elsewhere values were down. They dropped another 1.6 per cent in Darwin with total house values down by 11.1 per cent over the past year. They dropped by 0.6 per cent in Perth, by 0.3 per cent in Adelaide while they were flat in Brisbane.
Perhaps the most important point about the Australian financial sector is the Royal Commission has concluded without a knock-out blow for the banks.