The RP Data -Rismark National Home value index which tracks national trends in home prices indicates that during the first 5 months of 2009 home prices increased by 3.9%. In the 12 months to May 2009 home prices increased by 1.6%.

"The recovery in Australia’s housing market, which has defied countless doomsayers, has in turn been the cornerstone of the Australian economy's stability in 2009"

According to RP data head of research Tim Lawless, although investor activity remains low, investment interest is likely to gather pace in the second half of 2009.

The Australian Bureau of Statistics housing finance data in April also showed the first signs of a rebound in investor participation.

RP Data 30 June 2009