High-End Homes See Sharper Declines as Market Splits

The downturn in Australia's housing market is disproportionately affecting higher-end properties, with upper-quartile values in Sydney and Melbourne falling over 10% from their peaks. Conversely, the lower end of the market remains more competitive due to ongoing demand from first-home buyers.

For Melbourne's western growth corridor, this suggests that more affordable segments may show greater resilience. First-home buyers could find opportunities, while luxury property owners might need to adjust price expectations to align with current market sentiment.