Upgraders on the move in Clifton Hill in 2012: Jellis Craig

Upgraders will be busy in the inner-Melbourne suburb of Clifton Hill, according to Jellis Craig’s Annual Property Review.

“In 2012 the spotlight will again be on homes in the $900,000 to $1.3 million range as young families look to scale up from smaller single-fronted terraces. We are already seeing increasing numbers of these families at our viewings,” says Craig Shearn, director of Jellis Craig Clifton Hill, in the report.

Source: Jellis Craig Annual Property Review

“Buyers now feel 2012 is the time to move, as should the market move again, the gap between what they own and what they want will only get wider.”

Source: Jellis Craig Annual Property Review

He says that in addition to upgraders, investors are also likely to be more active in the Clifton Hill area in the near future.

“We expect a marginal growth in the inner city in early 2012, with the possibility of an increased growth rate later in the year and into 2013. We also expect to see more investors returning to the market as rental returns in the inner city continue to strengthen.”