Dhaka, Aug. 31 -- Australian home prices rose in August, driven by increased buyer demand and low levels of advertised stock, property consultant Cotality said on Monday.

Prices increased 0.7 percent in August from July to a median value of A$848,858 ($551,587.93), accelerating from a 0.5 percent gain the previous month, according to figures from Cotality, formerly CoreLogic.

The August result was the strongest monthly gain since May 2024.

The rise was broad-based, with prices in Brisbane jumping 1.2 percent in August. Prices in Sydney, Australia's most populous city, rose 0.8% while in Melbourne they were 0.3 percent higher.

Hobart, where prices fell 0.2 percent, was the only state capital to log a decline in the month, according to ...