Australia becoming major global player in luxury property

Market Insights
4 years ago
2 minutes

Five Australian cities are among the world’s top cities with the fastest growth in luxury property prices.

Knight Frank’s Prime Global Cities Index for the second quarter of 2019 found that Sydney, Melbourne, Perth, Sydney, and the Gold Coast showed better annual growth in luxury property than major players like London, Shanghai, and New York.

The recent price correction of the Australian property market has seen prices suffer in recent times, but there’s been plenty of evidence that property investment is returning.

The reserve bank has stated their belief that they expect housing investment to return to growth sooner than it had expected, while Sydney and Melbourne clearance rates continue to rise.


It appears, then, that luxury property has had an impact on these growing trends. According to the report, Sydney saw a 2.5 per cent increase in sales, while Brisbane saw 2.2 per cent and Melbourne 2.1 per cent. This put them 18th, 20th and 21st on the global list respectively, above the likes of San Francisco, Vienna and Miami.

Luxury property is very much at the heart of Sydney living. Take this penthouse at Kurraba point, for example. With uninterrupted harbour views, The Norfolk Penthouses offer once-in-a-lifetime vistas in opulent surroundings.

The Norfolk Penthouses

Hovering above the St. Leonards skyline, the Bradfield Penthouse also presents amazing views of Sydney’s CBD while keeping you immersed in luxury.

The Bradfield Penthouse

In Melbourne, there’s No. 6 Sydney Street — A collection of 16 homes masterfully crafted by renowned Wood Marsh Architecture, perfectly positioned on a quiet residential street overlooking Orrong Reserve in the heart of Stonnington.

No. 6 Sydney Street

Elwood Park offers something a bit more botanical. In amongst a bespoke collection of 13 individually designed apartments, the penthouses offer rooftop terraces full of greenery amongst the tree-tops. 

Elwood Park

Queensland has been leading the way in Australia’s recovering property market, with Brisbane showing some of the best numbers in terms of clearance rates in the country.

For a luxury home there, look no further than the Emerson Edition in sprawling Minnippi Parkland. These 15 three and four-bedroom terrace homes come complete with waterfall stone benchtops, Miele appliances and floor-to-ceiling glass windows in a Palm Springs-inspired design.

The Emerson Edition

The Gold Coast has seen a big rise in population recently due to an increase in people choosing to live and work there. 

As a result, more luxury properties are being developed — like Mahala, Mermaid Beach. Overlooking Hedges Avenue, this brand-new state-of-the-art apartment development offers 94 light-filled and thoughtfully designed 2, 3 and 4 bedroom homes.

Designed by award-winning Cottee Parker architects, Mahala has been designed with a striking façade and opulent interiors that capture the essence of sophisticated coastal living.

Mahala, Mermaid Beach

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