Published 5 May 2026. Figures and market conditions described here were current at that time and may have changed since.
Brisbane is quickly establishing itself as one of the world's most dynamic luxury property markets, driven by Olympic infrastructure investment, severe stock shortages and record levels of wealth creation.
According to Knight Frank's Wealth Report, Australia is fourth globally for billionaire growth, projected to rise 77 per cent by 2031, and fifth for ultra-high-net-worth individual growth at nearly 60 per cent. Globally, 89 new ultra-high-net-worth individuals are created each day, supporting sustained demand for luxury assets.
The luxury residential sector is experiencing uneven performance across Australia's major cities. Melbourne has recorded a 4 per cent increase in buying power over five years, while Sydney has declined 5 per cent. Brisbane is down 5 per cent, Perth down 11 per cent, and the Gold Coast down 14 per cent, though the Gold Coast continues to offer the strongest relative value.
Globally, luxury residential prices rose 3.2 per cent in 2025, outperforming mainstream housing markets for a second consecutive year. Within Australia, Perth led luxury price growth at 4.1 per cent, followed by the Gold Coast at 2.8 per cent and Brisbane at 2.1 per cent, while Sydney and Melbourne recorded slight declines.
Brisbane has been identified as a key luxury growth location, supported by Olympic-related infrastructure investment and ongoing urban redevelopment. Planning conditions have enabled fast-tracked development, with top-end apartment prices rising from around $9 million to over $15 million within a 12-month period.
Investor activity has shifted toward Brisbane, overtaking Victoria amid higher taxation settings, while owner-occupier lending has reached record levels.
At the top end of the market, demand is being driven by both migration and demographic changes.
Looking ahead, Brisbane, the Gold Coast and Perth are expected to be the strongest performing luxury markets in 2027, with 2 per cent growth forecast in luxury residential prices. The Knight Frank report found that in Brisbane, $1 million now buys 5 per cent less than it did five years ago, while the Gold Coast has seen the biggest reduction in buying power at 14 per cent but still offers the greatest value for money.
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