Recovery well and truly underway

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Capital city dwelling values rose 1.4% across the country, according to RP Data Rismark's September Home Value Index. 

It was the largest month-on-month growth since March 2010, leading research director Tim Lawless to claim a recovery is "underway." 

Adelaide took the lead with a 2.4% increase, followed by Perth at 1.6%, Sydney at 1.5%, Melbourne at 1.4% and Brisbane at 1.1%. 

Over the quarter, however, Darwin values climbed 3.9%, making it the strongest capital city in Australia for Q3. 

The northern city also had the highest rental yields for both detached and unit dwellings. 

Hobart continues to falter, showing another month of declining property values. It is now Australia's weakest performing capital, according to RP Data. 

RP Data’s research director Tim Lawless said the increasing values should have encouraged the RBA to sit tight, however it dropped the cash rate yesterday to 3.25%.

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