RP Data-Rismark's August Home Value Index revealed a stagnant August with no change in combined capital city home values from July.
Darwin remained the best performer, while Adelaide continued to see a decline in value.
However, three-monthly and eight-monthly performance figures painted a very different picture.
Combined capital city values rose 1.6% over the last three months, while values declined by 0.6% over an eight-month period.
The slight variances in growth and decline point to a relatively stable market, said a spokesperson for Rismark.
"Despite the fact that the RBA
did not cut rates again until May, and we had the banks hike rates by about 25 basis points in the intervening period, the national market has clearly stabilised,” they said.
Sydney proved a consistently positive performer, with a consecutive five-month increase in value.
It also remains the most expensive city in Australia with a median dwelling price of $530,000.