Property prices to stimulate the population "super-rich"

Despite the economic downturn, the number of ultra-wealthy Australians is expected to continue to increase over the next five years, which will boost demand for luxury real estate, according to Knight Frank's latest report .

By 2023, about 613 people will join the group of very wealthy people (UNHWI), whose individual net worth exceeds $ 44.8 million.

The growth of the ultra-rich population should be fueled not only by the strength of the stock and bond markets, but also by the strong growth in real estate prices over the long term, said Michelle Ciesielski, head of research at Knight Frank.

In fact, over one-third of Australia's super-rich total wealth comes from residential properties, each with an average of three homes.

"The ultra-rich do not necessarily look for a single house, they tend to have the main house of the family, the city and the rural estate," said Ciesielski.

Sydney will remain the most wanted place by the UNHWI. According to the Knight Frank report, the city 's residential selling price is expected to increase by 2% by the end of the year and an additional 3% next year.

Melbourne will remain the second destination of the ultra-rich, followed by Perth.

Ciesielski said the main residential market was poised for sustained and robust growth, despite global uncertainties that could potentially affect confidence.

"We believe that the prestige market still has some way to go, and the market indicators of the primary market remain strong," said Ciesielski.

Top suburbs:

St Mary


Harris Park







Get help for your real estate investment

Do you need help in finding the right loan for your investment?

When you invest in real estate, it is important to make sure that you do not only have the lowest available rate that you can get, but you also have the features of ready adapted to your needs.

Just fill in a few details below and we will then make arrangements with a local Australian mortgage broker to contact you and settle What features or types of loans are suited to your needs? We will even help with the paperwork. In addition, an appointment is free.

We value your privacy and treat all your information seriously – you can check
our privacy policy here

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.