Property prices are not falling as quickly as some economists predicted, with the latest CoreLogic figures showing prices edged back up in some capital cities during the first weeks of spring.

While Adelaide and Perth house prices dropped a little in August they have lifted again, 3.6% and 1.1% respectively, in September and are now near to record highs.

The latest data from SQM Research records price rises in the past month in Sydney, Perth, Adelaide and Canberra, with the capital city averages up 0.2% for houses and 0.4% for units.

Auction clearance rates are no longer declining and started to increase again slightly in recent weeks, while data from SQM Research shows there is a shortage of properties for sale. Some agents report that many properties are selling at or above reserve at auctions.

The figures show the latest interest rate rises didn’t have a negative impact on property prices in August, with strong sales results compared with July.