From the AFR: Sydney, Melbourne housing markets have bottomed...

From the AFR:

Sydney, Melbourne housing markets have bottomed

The housing price downturn is over for Sydney and Melbourne, according to the key property data analysts, who have called the bottom of the market, saying the record return of migrants would bolster prices.

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CoreLogic, SQM Research, Proptrack and RBC Capital Markets have all declared house prices had bottomed out in the two biggest housing markets amid a growing number of housing indicators showing a marked upturn.

“As more data flows have come through across housing finance, consumer sentiment, vendor discounting and sales volumes, it seems the national housing market downswing may have bottomed out in early March,” said CoreLogic head of research Eliza Owen.