Property market


PHOTO: The Smiths’ house in east Melbourne sold for much higher than expected. ABC News

There are new signs the property market could be on the rebound, with small price rises in Australia’s two largest cities.

Key points:

  • Property prices have risen slightly in Sydney and Melbourne, but fallen in most other cities
  • The high-end housing markets in Sydney and Melbourne are performing the best
  • Property research analyst Eliza Owen says the sluggish economy will slow any market rebound

“There is a turnaround in sentiment in Sydney and Melbourne markets,” Eliza Owen, a research analyst from Domain told 7.30.

“I think if you’re looking to sell, you might be getting a better price for your property than you did at the beginning of 2019.”

But it is not across the whole of the market just yet.

Over the last quarter, the high-end housing market was up 2 per cent in Melbourne and 1.8 per cent in Sydney, according to Domain.


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