text: There is still no relief for hopeful house-hunters in Sydney as the capital city records yet another record boom in property prices after a 'strong' quarter. Dwelling values rose by 5.8 per cent in the Harbour city, a record growth and the strongest increase since April in 2009, according to the latest figures from RP Data. It comes after the Reserve Bank cut official interest rates to 2.25 per cent in February, leading to a weekly 80 per cent auction clearance rate and an investor fuelled market. Scroll down for video . Sydney’s dwelling values rose by 5.8 per cent in the last quarter bringing the average median house price to $690,000 . It's thus no surprise to see properties across the capital city sell for well over the $1 million mark like this Ryde residence in Sydney’s north west which sold for $1.8 million on the weekend . Set on 565 sqm, the four bedroom property features a deluxe spa bath, two terraces, three bathrooms and a fireplace . 'Although household income growth is minimal, Sydney's housing market continues to reach new record highs, with values increasing over the past 35 months,' Tim Lawless, the head of research at CoreLogic RP Data, said. 'It does pose the question of how much longer the growth can persist.' Sydney's performance drove the quarterly national dwelling value to heighten by 3 per cent, despite Brisbane, Adelaide and Perth suffering significant declines over the quarter. 'Although value growth has started 2015 on a strong note, the annual rate of growth has moderated back to 7.4 per cent, which is the slowest annual growth rate since September 2013,' Mr Lawless said. This five-bedroom home at 39 Holmes Street, Maroubra in Sydney’s eastern suburbs sold for $2 million on Saturday . Across two levels it features open plan living areas, a chic kitchen with stone benches and three bathrooms with  a stand-alone bath . Sydney's performance drove the quarterly national dwelling value to heighten by 3 per cent, despite Brisbane, Adelaide and Perth suffering significant declines over the quarter . 'Despite the headwinds of softer labour markets, very low rental yields, increased oversight on lending conditions and heightened economic uncertainty, historically low mortgage rates appear to be adding further stimulus to the housing market, albeit that stimulus is largely being felt in Sydney.' The median house price across the combined capital cities is now $530,000, with Sydney being the only city to surpass the figure with a median of $690,000. Canberra surprisingly performed second best to Sydney over the quarter with a 4.1 per cent increase in dwelling values leading to a $530,000 median house price, followed by Melbourne at 3.5 per cent and $518,000. The remaining capital cities were all under 1 per cent with Hobart at 0.9 per cent and Darwin at 0.4 per cent. Perth took out the last place at -2.7 per cent despite beating Hobart and Darwin over the year. This five-bedroom home at 95 Chelmsford Street, Newtown in Sydney’s inner west, sold for $2.3 million on Saturday . It has four levels on 290sqm with high ceilings, three bathrooms, courtyard gardens and a self-contained studio . The median house price across the combined capital cities is now $530,000, with Sydney being the only city to surpass the figure with a median of $690,000 . Canberra surprisingly performed second best to Sydney over the quarter with a 4.1 per cent increase in dwelling values leading to a $530,000 median house price . Hobart has maintained its position as the most affordable position by a longshot, with a median dwelling price of just $310,000. Mr Lawless offered a word of caution to investors with their eye on Sydney however, suggesting the market could soon begin to 'lose momentum'. 'There is some risk that recent investors could be left holding a very expensive but low yielding asset with a lower than expected rate of capital gain over the coming years,' he said. 'From there it will be interesting to see if they bide their time in the housing market or exit to other asset classes with a stronger return profile.' This home at 260 Holden Street, Ashbury in south-western Sydney, sold for $1,781,000 over the weekend . It too features five bedrooms, three bathrooms, a self-contained studio, a huge outdoor entertaining area and established gardens . RP Data's Tim Lawless offered a word of caution to investors with their eye on Sydney, suggesting the market could soon begin to 'lose momentum'
target: Dwelling values rose by 5.8 per cent in Sydney over the last quarter, the strongest increase since April 2009 .
  The increase has brought the median house price to $690,000 in the Harbour city .
  Sydney's strong performance led the national dwelling value to heighten by 3 per cent .
  Canberra performed second best with a 4.1 per cent increase followed by Melbourne at 3.5 per cent and $518,000 .