Australia among top property performers

Australia experienced the second highest increase in a poll of world property prices rep during the second quarter of this year, it has been revealed.

The country saw a 4.2 per cent rise in values during the three months to June, according to the Knight Frank Global House Price Index, a rise only topped by Norway.

This represented a recovery from the first quarter of the year, when the average price dipped by 1.5 per cent.

Such a trend may add weight to the view that Australia is recovering faster in both its housing market and economy than many other countries, something that could encourage those thinking of buying a home there.

Commenting at the start of this month after the Reserve Bank of Australia decided to hold interest rates, governor of the bank Glenn Stevens stated that economic conditions "have been stronger than expected".

Mr Stevens also noted that house prices have risen recently.

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