House prices rise for the second month in a row as rents keep rising due to low vacancy rates

After a brief downturn earlier this year, new figures suggest Australia's housing market has rebounded. (ABC News: John Gunn)

Australian property prices have risen for the second month in a row, suggesting a downturn in the nation's housing market has come to an end as interest rates appear to have stabilised.

CoreLogic data shows the median value of homes sold across the country increased by 0.5 per cent in April, following a 0.6 per cent increase in March.