Latest NewsUpgraders to Dominate in 2010Wednesday, 30 November 2016

Up-graders will be a force to be reckoned with in 2010, according to the BIS Shrapnel Residential Property Index.

"In the absence of continued first home buyer growth, demand from both up-graders and investors will be pivotal to sustained price growth over calendar 2010," the report said.

"Certainly the December quarter figures showed a rise in the number of up-graders entering the market across most capital cities, which should create continued demand going forward particularly in middle to high range properties."

Trends in the Residential Price Index had property price growth rising over the three months to December 2009 in all capital cities except Hobart, where prices have softened since an October 2009 peak.

Sydney prices increased mildly by 1.9 per cent in the quarter and on a year-on-year basis rose by 4.4 per cent to December 2009, the best result since the middle of 2008.

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