This is a time when growing families squeeze household budgets and living space to the limits.
Valuers Herron Todd White are tipping upgraders to be a continued presence in the Brisbane market this year.
“This cohort is particularly drawn to areas with great family and lifestyle amenities such as parks, school catchments and public transport,” they write in their April monthly review.
“In our opinion, upgraders will continue to be an active sector in 2022 but at reduced levels compared to 2021.”
So where are the upgrader hot spots?
It depends on budget. The Brisbane market offers significant variability in prices for those moving on up, ranging from $800,000 to $1.5 million, the report says.
Buying closer to the middle ring and inner suburbs is a common desire, and north side burbs are a hot pick.
“Of late there’s probably been limited activity in the far outer suburbs, with most transactions occurring much closer in – say south of Geebung in the north and in Banyo and Nudgee,” they write.
These three suburbs offer a good mix of lifestyle, amenity and convenience with a mix of housing as renovators and new builds replace older stock.
Want to try on a bigger home for size?