A typical two phase microstructure consists of a topologically continuous `matrix' phase in which islands of `precipitate' phase are embedded. Usually, the matrix phase is also the majority phase in terms of volume fraction. However, sometimes this relationship between the volume fraction and topology is reversed, and this reversal is known as phase inversion. Such a phase inversion can be driven by an elastic moduli mismatch in two-phase solid systems. In this paper (submitted to Philosophical magazine), we show phase inversion, and the effect of the elastic moduli mismatch and elastic anisotropy on such inversion.