Australia's central bank kept its focus on employment and housing markets at its latest board meeting, even as signs emerge of improvements in both.

While property had been "rising briskly" in Sydney and Melbourne, there were also some signs that price pressures were beginning to ease, the Reserve Bank of Australia said on Tuesday in minutes of the June monetary policy meeting when interest rates were kept at 1.5 per cent.

Similarly, while employment gains had strengthened in recent months, growth in hours worked had declined, it said.

Policy makers met before May employment data showed a third straight monthly gain and the jobless rate fell to a four-year low of 5.5 per cent.