Housing prices in Australia have shown a strong start this year.

This is indicated by the data given by The Australian. Price rose by 4.3 per cent and Melbourne and Adelaide turned out to be the best performers.

The good thing is that the rise has continued for two consecutive months and it has defied fears that the rising interest rates would pull the prices down.

As for the whole of Australia, the prices went up by 1.8 per cent during the first month of the year. This made the price for the whole 12-month period zoom up by 11.8 per cent, as per the figures calculated by RP Data-Rismark's home value index.

Talking about the trend, Tim Lawless, Head of Research, RP's said that the confidence in the housing sector has come back. For the first time after a long time, the buyers have out-weighted the sellers. He also said that the supply is getting consumed very quickly.

The auction volumes are higher this time as compared to the last year and the national weighted clearance rate was at healthy 73 per cent.