This area of the housing market is set to outperform

The upper end of the housing market is leading the recovery from the downturn, but more affordable areas have performed better in the long run and are poised to outperform in the next cycle as affordability weighs on buyers’ budgets, new data shows.high-income segment of the marketThe most expensive segment of the housing market is leading the recovery, but the affordable areas are poised to outperform in the medium term according to experts.

Suburbtrends classifies high-income areas as having a median household income of $2512 a week, upper middle income $2014, middle income $1955, lower middle income $1790, and low-income $1555. A separate analysis by Jeremy Sheppard, research director at DSR Data, showed a similar trend where the most affordable housing markets climbed by about 25 per cent in the past 12 months compared with about a 10 per cent drop in the upper end.“A lot of the buying pressure has moved to the cheaper end of the market since the start of interest rates rises,” Mr Sheppard said.

“There have been five national real estate downturns in the last 33 years – that’s five periods when we had negative national growth. But the cheapest 10 per cent of property markets have only gone backwards once,” he said.

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