Alexandra Middleton

Unit values are rising faster than those of houses in some inner-city and bayside suburbs, as buyers chase lifestyle without the price tag.

Green space, a sense of community and plenty of family homes – home owners in these suburbs would never dream of moving away.

Property prices have come off the boil, but the cost of owning a second home has skyrocketed, with increased land tax driving up costs.

As investors shy away from the Melbourne market, a handful of areas have fallen below their 2019 prices.

The rising cost of housing in a string of bayside and inner-east suburbs hasn’t deterred buyers, bucking the trend of Melbourne’s softening market.

Families bought in years ago, and loved the neighbourhood so much they stayed - sometimes for decades.