As property prices continue to rise buyers are seeking out affordable markets leading to growth in that sector.
CoreLogic figures show while prices are growing the pace of growth has slowed, particularly in the upper quartile of the market.
Nationally the pace of growth slowed by 1.2% in the July quarter but the pace of growth in the upper quartile slowed by 1.8%.
The pace of growth in the lower end of the market only slowed by 1% while in the middle market it slowed by 0.7%.
CoreLogic Research Director Tim Lawless says there has been some resilience in growth across the middle and more affordable end.
“That aligns with housing finance data which has shown a stronger bounce back in the value of lending to first home buyers and investors over recent months,” he says.
“These segments tend to be more active across the middle to lower end of the pricing range where competition to purchase a home may be more intense.
