Australian property prices now top the global ranking

Market Insights
2 years ago
1 minutes

Knight Frank’s Global House Price Index has ranked Australia the global number one for annual property price growth - marked by a 17.5% increase over the 2021 calendar year. 

Additionally, data from the Australian Bureau of Statistics (ABS) shows that capital cities across the nation have soared in value over the last 12 months. The average value for a capital city dwelling is now over $920,000 - marking the most significant annual increase reported by the ABS. 

Brisbane saw an increase of 27.8%. The northern city outperformed Sydney, which recorded a 26.7% increase, and Melbourne, a 20% increase. As a result, the weighted average of Australia’s eight capital cities grew 23.8%.

Esplanade is just moments from Palm Beach’s bursting cosmopolitan scene.

Brisbane’s pace of sales has almost doubled since the announcement of the 2032 Olympics. Nearby, Gold Coast apartment sales have continued to soar, clearing between 42-56% of available inventory each quarter of 2021 - indicating the update of a low-maintenance lifestyle upgrade. 

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