Sydney and Melbourne are now among Australia's best performing housing markets, ...

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Where YOU need to buy now as the downturn ends: Sydney and Melbourne suburbs are now Australia's BEST performing housing markets Melbourne's inner-east has gone from being the worst to best housing market Property prices have risen by 3.1 per cent during the past year, after fall in 2018 Sydney's Baulkham Hills, Hawkesbury area is now among the best six nationally

By Stephen Johnson For Daily Mail Australia

Published: 05:11 GMT, 1 November 2019 | Updated: 05:11 GMT, 1 November 2019

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Suburbs in Sydney and Melbourne hit by the property slump are now the best performing real estate markets in Australia.

Since peaking in 2017, house prices in Australia's biggest cities have been through a record downturn. 

Circumstances have changed dramatically in a year, with Melbourne's inner-east going from being Australia's worst to best metropolitan housing market.

Suburbs in Sydney and Melbourne are now the best performing real estate markets in Australia. Circumstances have changed dramatically in a year, with Melbourne's inner-east going from being Australia's worst to best metropolitan housing market (pictured is a house up for auction at Hawthorn East)

Suburbs in Sydney and Melbourne are now the best performing real estate markets in Australia. Circumstances have changed dramatically in a year, with Melbourne's inner-east going from being Australia's worst to best metropolitan housing market (pictured is a house up for auction at Hawthorn East)

Recovery continues* 

SYDNEY: Houses up 1.8 per cent to $918,314

MELBOURNE: Houses up 2.4 per cent to $751,513

BRISBANE: Houses up 0.9 per cent to $539,167

ADELAIDE:  Houses up 0.5 per cent to $468,757

PERTH: Houses down 0.4 per cent to $451,815

HOBART: Houses up 0.9 per cent to $492,465

DARWIN: Houses up 0.7 per cent to $468,317

CANBERRA: Houses up 0.8 per cent to $671,968 

* Except in Perth

Source: CoreLogic Home Value Index, October 2019 based on median house prices 

Median real estate values in these wealthy suburbs have risen by 3.1 per cent during the past year, CoreLogic property price data for October showed.

In 2018, property prices in these suburbs fell by 13.4 per cent. 

Sydney is also bouncing back, with median house prices at Baulkham Hills and the Hawkesbury, in the city's outer north-west, edging up by 1.1 per cent during the past year to be Australia's sixth best performing capital city area.

The city isn't completely in the clear, however, with median property prices in Sydney's inner south-west falling by an annual pace of 5.6 per cent, making it Australia's

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