"Housing credit polices remain much tougher than they were prior to the royal commission as lenders continue to move away from the Household Expenditure Measure and examine borrower spending behaviours and expenses more closely," he said.
"Despite an unprecedented amount of new apartment stock entering the market, Sydney and Melbourne unit values have consistently outperformed the detached housing sector through the downturn, and this trend is continuing into the recovery phase," Mr Lawless said.Price gains in Hobart accelerated from 0.2 per cent to 0.3 per cent in July, while Darwin property prices swung from a 0.9 per cent monthly decline to a 0.4 per cent monthly gain.
AMP chief economist Shane Oliver said it was clear the coalition's federal election win in May had given the market confidence, via the removal of threats to negative gearing and the capital gains tax discount.
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