‘Worst of it’ over as elite bayside pockets lead Melbourne home gains

Melbourne’s housing market is in decline in almost every corner, but a few pockets are still gaining in value.Home values are flat or falling in almost every Melbourne suburb, with new figures showing the city started spring amid one of the most widespread market corrections on record.But with the appearance of top end suburbs in some of the few areas where prices are on the rise, there are suggestions the city might be at the bottom of the current crash in values — though when a revival will commence will be determined by the Reserve Bank.REA Group median house value figures have revealed home values grew in just 34 suburbs for the September quarter, equating to barely 8 per cent of the more than 400 where there was enough data to generate data.RELATED: Melbourne house prices tumble to 2021 levels after $63,500 wipeoutMelbourne tenants slugged extra $1560 a year as rents hit record high$4000 a day: Ex-Tennis Aus boss brutal loss revealed It wasn’t much better for units, with just 28 suburbs recording gains out of more than 280 — just under one in ten.The handful of suburbs defying the odds were topped by bayside havens Middle Park, up 8 per cent to $2,764m, Sorrento, 5 per cent to...