Property prices climb 10% in FY

Home values across Australia's capital cities climbed almost 10 per cent during the 2014-15 financial year, fuelled by the booming Sydney and Melbourne markets.

A rebound in values during June helped lift the annual result to 9.8 per cent, just below the 10.1 per cent rise in 2013-14, data released by CoreLogic RP Data shows.

CoreLogic RP Data's head of research Tim Lawless said the Reserve Bank's interest rate cuts in February and May helped drive demand for property, particularly in Sydney and Melbourne.