Housing prices are expected to jump after several months of modest growth as buyers rush into the spring market, ahead of the federal government’s move to bring forward its 5 per cent first home buyer guarantee.

Prices rose 0.7 per cent nationally over August, marking the strongest month-on-month gain since May, according to data provider Cotality, formerly known as CoreLogic. The rise has pushed the annual change to 4.1 per cent as momentum gradually builds since the February rate cut.

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