Australia's high-end housing market sees steepest price falls as affordable segment holds steady

New data shows that high-end homes in Australia are recording steep price falls while more affordable properties are proving resilient, the Guardian reported, meaning Australians are experiencing the housing downturn differently depending on market segment.

Upper-quartile house values in Sydney and Melbourne, the country's two largest markets, have fallen, though analysts say prices are showing signs of stabilizing as investors exit and first-time buyers enter the market, according to the report.