High-end property hit by steepest price falls as affordable end of Australia’s housing market proves resilient

Despite falls in some parts of the market, prices are showing signs of stabilising as investors exit and first-time buyers move in, analysts say

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High-end homes are recording steep price falls, while more affordable properties are proving resilient, leaving Australians to experience the market downturn in very different ways, new data shows.

Upper-quartile house values in the country’s two biggest markets, Sydney and Melbourne, are now down more than 10% from their peaks, according to analysis from Cotality.