Australian property prices stay flat in february

The index found no significant Change overall in the value of residential property in the country's capital cities. Sydney, Hobart and Darwin were the only major cities to record a slight increase in house prices.

The index recorded zero month on month growth, following eight months in a row of price increases.

"The February market results are in stark contrast to earlier readings where capital city dwelling values moved 2.6 per cent higher over the past three months," commented TP Data research director Tim Lawless.

"The likelihood is that the weak reading for February is an adjustment from the strong readings in December and January rather than the beginning of a flat to negative growth phase across the macro level housing market."