Brisbane has been designated as the best-performing city in Australia for luxury residential price growth in Knight Frank's latest study, outperforming cities like Sydney and Melbourne.
The Queensland capital ranks 14th in the world, with a 3.2% rise in the price of prestige goods – defined as the top 5% of the market value – from year to March.
Sydney is 18th with 2.4%, Melbourne 22nd with 1.8% and Perth 23rd with 1.8%
The Brisbane market was doing well, with 16 suburbs in the club worth millions of dollars, especially at $ 5 million and more, according to Antonia Mercorella, executive director of the Queensland Real Estate Institute.
Michelle Ciesielski, head of residential research at Knight Frank, Australia, said the strengthening of Brisbane's main market had several reasons.
"Brisbane's millionaire population continues to grow, prime properties continue to attract interest from migrant families in Sydney and Melbourne, as well as local staff reductions," she told Domain .
This idea of ​​great value is constantly pushing the migration of Sydneysiders and Melburnians North, while attracting buyers and former foreign upholsterers in search of a place to live on their return, has said Judy Goodger, Executive Director of Place New Farm
The growing willingness of banks in credit, migration and lifestyle also explains why the Brisbane market is booming, according to research analyst in the field, Eliza Owen.
"We see in the data that many Sydney residents are now turning to southeastern Queensland to buy a property in the upper part of the market," she said. "Brisbane currently has 20% of investigations outside of Sydney."
Top suburbs:
Werribee
,
the basin
,
Westmead
,
albion
,
spearhead
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