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A recent survey from the Bureau of Statistics and RP Data confirms my predictions for market activity in 2010. Upgraders will remain the largest buyer group, along with an increase in investor and downsizer activity.
The ABS Housing Mobility survey shows a massive 45% of Australian home owners feel their homes are too small. The survey was conducted when interest rates were twice today’s levels and upgrading was not financially viable for many home owners, but with interest rates now significantly lower it’s no wonder upgraders are active right now.
So what do these buyers want? In addition to a bigger property, they also want a better quality property that is close to shops, cafes and transport and in a quieter location with better ...
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