Study reveals Aus’ property upgrade capitals

An analysis of over 250,000 house moves in Australia revealed Melbourne and Brisbane as the leading cities where residents are trading up to more valuable properties, defying economic pressures. The Find A Mover Property Report tracked upgrades or downgrades based on suburb medians and property sizes, showing resilience in the housing market despite interest rate hikes. Melbourne stood out with a flawless three-year streak of positive upgrade quarters, with 14 of its top 20 relocated suburbs showing growth. Southbank led with a 25 percent upgrade gap as buyers sought waterfront apartments, while Berwick saw families trading up from the outer east. Brisbane followed closely, recording 11 out of 12 positive quarters, driven by interstate arrivals leveraging equity to upgrade. Brisbane City had a 21 percent upgrade gap, with even growth areas like Springfield Lakes and North Lakes seeing upgrades over cheaper housing options. Sydney, however, experienced four negative quarters in the past three years, forcing residents to downgrade due to affordability pressures. While the city-wide gap hovered near zero, pockets like Parramatta showed a 16 percent upgrade gap, contrasting with areas like Maroubra, where locals traded down by 12 percent. Adelaide emerged as the most fragile market, with narrow price gaps making it highly sensitive to rate changes. Perth fluctuated sharply, tied to the resources sector, with upgrades in the CBD but downgrades on the outer fringes. Find A Mover director Howe Tran noted that despite economic challenges, Australians remain willing to pay premiums for better homes, with demand persisting across the market.