Sydney, Melbourne, Hobart and Canberra are now showing an annual growth rate in dwelling values higher than 10 per cent.
Even though Perth and Darwin still posted falls in prices for the March quarter and for the year to March, combined capital growth is now an annual 12.9 per cent.
For the month, Sydney rose 1.4 per cent and Melbourne 1.9 per cent. Quarterly rises were 5 per cent and 4.2 per cent respectively.
But CoreLogic head of research Tim Lawless said the step up macroprudential tightening - as seen with APRA's restriction on interest-only loans last week - and the "organic brake" brought on by low yields would eventually slow things down.
"Record-high levels of apartment supply are also likely to act as a brake on capital gains in those precincts where supply levels are high."
Gross rental yields are now 2.9 per cent in Sydney and 2.8 per cent in Melbourne. Past numbers show the "standard" rental yield at around 4 per cent.
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