By a staff reporter
Housing values rose in July as positive conditions in Sydney, Perth and Melbourne buoyed the property market, according to a private survey.
RP Data and Rismark International's home value index found capital city dwelling values rose 1.6 per cent in July, slightly less than the 1.9 per cent gain in June.
Prices have recovered a total of 6.5 per cent since May last year, according to the survey.
RP Data research director Tim Lawless said the market is still a mixed bag despite the strong headline.
"As noted by Reserve Bank of Australia Governor Glenn Stevens earlier this week, with an easing in monetary policy one of the expected and intended effects will be that people start to shift their portfolios away from the less risky assets such as cash and in the direction of holding equities and physical assets such as property," Mr Lawless said.