The cost of upsizing to a bigger house has narrowed to $60,000 or a little more for an extra bedroom in a larger home in the outer suburbs of Sydney, Brisbane and Melbourne as aspiring upgraders look for opportunity amid the property downturn.
Analysts and agents said that because prices of higher-value homes have been falling faster than those at the bottom end of the market in the major capitals, the cost of moving from a smaller house to a bigger one is shrinking. This has created opportunities to upsize – if would-be upgraders can sell their home.
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