NEWS
Confidence is returning to the top end of the property market with a surge in “prestige” home loans.
According to experts, on average, inquiries for loans for prestige properties were up 30 per cent on the same period last year.
There is strong evidence that the prestige property market is on the move and people are on the hunt for homes worth more than $1 million. There is confidence out there about both the direction of the Australian economy and the housing market, which is encouraging those with financial stability to upgrade their homes.
Buyers are recognizing that there is a lot more opportunity now to get into the top end of the market and achieve benefits in the long term.
Some experts were predicting that median house prices in most capital cities would double by the end of the decade due to population growth.
Source: city news
Published: 29 March 2010
