Canberra home prices have risen by 1.6 per cent in the past quarter, bouncing back after falling sharply last year.
The February figures from the CoreLogic RP Data February Home Value Index also show Canberra prices to have grown the most out of all capital cities apart from Sydney over the past month, with a rise of 1.3 per cent.
Canberra houses did better than units in February.
While houses were up 1.6 per cent in the last quarter, and 1.5 per cent in the last month, units were up 1.8 per cent on the last quarter and down by 1.3 per cent on the last month.
Canberra saw the biggest drop in house prices in Australia in last year's spring quarter, falling by a steep 3.3 per cent.
The ACT was also the only jurisdiction where property prices fell between December 2013 and December 2014, falling by 0.6 per cent.
The bounce revealed in Monday's report contrasted with the rest of the capital cities where values rose by 0.3 per cent in a month, taking home values 8.3 per cent higher over the past twelve months.
Some pundits have said the Mr Fluffy buyback and outside investment could lead to a price rebound in Canberra over the next year and a half.
CommSec chief economist Craig James said in January that the growing value gap between Canberra and the other capitals would push demand by attracting interstate and international investors within 18 months.
Some developers were also saying the $703 million spend by 1021 Mr Fluffy victims could spark a housing price spike.
The Property Council of Australia executive director Catherine Carter disagreed, but said Canberra housing was already expensive and likely to rise further over time.
Rental yields continued to be relatively strong in Canberra, while lowering across the rest of the cities.
In Canberra, rental yield on houses was 4.3 per cent and on apartments 4.9 per cent, the forth highest of the capital cities.
According to CoreLogic RP Data, across the capital cities the typical gross yield by the end of February had eroded down to just 3.7 per cent for houses and apartments.
Dwelling values rising at more than three times the pace of weekly rents in capital cities are to blame for the lower yields, according to CoreLogic RP Data head of research Tim Lawless.
The Canberra median home price in the latest report was $510,000, just below $525,000 for the rest of the capitals.
A report from Barclays, also released on Monday, found house prices relative to income ratios are sitting close to historic highs in Australia.
The bank said price-to-income ratios are nearing the highs reached in 2003 and 2010, with national average at 4.8 times income.