Australia’s high-end housing market bounced back in February, with the upper quartile of home values in capital cities rising 0.2% in March, reversing a previous decline.
Historically, top-tier markets have been early indicators of broader trends, and CoreLogic data suggests this rebound could signal the start of a wider recovery.
Sydney, Melbourne, and Hobart led the turnaround, with Greater Sydney’s prestige markets seeing a 2% increase in February and Melbourne’s Stonnington East recording a 0.8% gain after a sharp decline in January.
“The top quartile is the one to watch as they tend to be a bellwether for broader market recoveries,” says CoreLogic economist Kaytlin Ezzy.
If momentum continues, high-end properties could soon outperform the rest of the market for the first time since August 2023.
With interest rate shifts playing a key role, buyer sentiment and expectations around credit access are already influencing demand.
Whether this trend holds will depend on economic conditions, but early signs suggest a renewed strength in the premium market.
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