Exclusive: Economists say falling house prices are largely in the more expensive parts of Sydney and Melbourne’s markets and are less likely to affect first-time property owners

Fears that first-time buyers with tiny deposits will find their mortgages are worth more than their homes may be assuaged by new data showing falling prices are concentrated in the top end of the Sydney and Melbourne property markets.

Climbing inflation, interest rates and worries about the economic fallout from the Middle East conflict have helped depress housing values in the country’s two biggest cities.

‘Gender norms explain some of it, but not all of it’ says Tiya Banerjee, an economist at the e61 Institute

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In about a week’s time, the Socceroos will step up against Turkey, their first opponents in this year’s World Cup.

Winning their first match will be a big ask; progressing beyond the first round will be a bigger one.