Melbourne property markets have rebounded over the past few months, but price gains have not been uniform.
Prices are rising in most segments and the turnaround has been faster than most expected, but some price points stand out.
Sydney houses in the $1 million to $1.5 million price range in the inner west, north-west and southern suburbs have seen the biggest jumps.
In contrast, less-expensive Sydney units have fallen in price, notably on the central coast.
In Melbourne, houses worth around the $1.1 million to $1.4 million mark have seen prices jump by about 10 per cent in the past six months, mainly in the inner city and inner bayside regions. For units, prices have increased most for mid-price units.
The upper-end of the Sydney and Melbourne property markets have historically led recoveries. This upswing looks to be broadly following this historical pattern, although the biggest price rebounds are occurring in mid to higher-priced areas rather than at the absolute top-end of the market.
This article takes an in-depth look at the rebound in Melbourne markets.
