The awe-inspiring land of Australia is an amalgamation of the ancient history of the native people and the glorious and highly urbanised capital cities. Interspersed with luscious beaches, thickly covered parklands, majestic skyscrapers, and beautiful environs, it is a dreamland that has become home to some of the most affluent people in the world.
High-net-worth individuals from across the globe yearn to buy a piece of land in its modernised cities which offer a plethora of creature comforts. From the best food and shopping scene to adventurous activities and happening nightlife, there is something for everyone here.
Whether you want a high-end apartment by the beach or a lavish mansion in the countryside, homebuyers can choose from a variety of luxury properties for sale in Australia. Real estate is a booming industry in the country with more and more people heading to its world-class cities for an upscale lifestyle. Here is a list of the seven most glamorous cities in Australia where you can look for some outstanding million-dollar properties.
Although the housing market is experiencing a downturn, things have not changed in the trophy homes segment of Sydney. According to the latest reports, Sydney has outranked other major Australian cities in the list of top 50 cities with prestige property growth in the world.
The city has grown by 3.1%, which is higher than the 2.2% growth marked by Melbourne and 2.1% by Gold Coast. From offering an affluent lifestyle to best educational institutions and economic stability, the capital city of New South Wales has maintained its winning streak and continues to attract both local and foreign investors.
The ultra-rich population of the world is advancing, and so is the demand for premium homes. Sydney has also experienced a lower supply of top-end homes, as many owners are not willing to sell their prized possessions. With transactions touching the 100 million dollar mark in 2018, the demand has certainly not faded.
2. Gold Coast
The sun-kissed city of Gold Coast is no more just a holiday destination for beach lovers. It has transformed into a hub for wealthy living. The skyscrapers adorning its skyline have paved the way for luxurious abodes that are being snapped up by the affluent people.
Claiming a spot among the top 50 cities with a growing prestige property market across the globe, it has become a sought-after destination. One of the recent reports stated that house prices have considerably risen in the past two years.
With the investors looking beyond the already saturated markets of Sydney and Melbourne, Gold Coast has emerged as a promising place with its surfing options, salubrious climate and charming vistas. It extends the best value for money, which has renewed the interest of homebuyers in the city.
Melbourne is a lavish city with marvellous fine-dining and wine tasting options. The wildlife and vibrant culture add to its effervescent vibe. The luxury residential market in Australia has not stopped its growth momentum and continues to surprise experts with its upbeat pace.
The number of people attending auctions has increased and so have the clearance rates in 2019 for the premium segment. The top-end buyers are not affected by the restrictions on credit limits as financing is not an issue with the affluent class.
Some of the million-dollar homes are getting sold within weeks of being put on the market. The quick sales showcase the depth of demand and the soaring upper-end dwelling market of Melbourne.
With as many as 16 suburbs putting up homes for sale in the million-dollar price bracket, Brisbane has become a stunning hotspot for luxury real estate. It has experienced a 3.2% rise in the pricing of the premium segment homes and has outperformed both Sydney and Melbourne in this respect.
The population of the millionaire strata is on the rise in the city and most of these people are looking for bargain deals when compared to similar homes in Sydney and Melbourne.
The confidence of the investors is at an all-time high and the enrapturing culture and vibe of the city has added to it. The demand is going strong for elite listings which are close to the best schools, shopping centres, beach and the CBD.
The prestige market has maintained a stable growth despite the impediments brought up by the downturn in the housing market. Canberra’s economy and population growth have both played a significant role in bringing the suburbs to the forefront.
The values of homes in locations such as Crace and Harrison have managed a huge leap in the past five years. With a comfortable lifestyle and affordable prices, the big trophy houses available for sale are being viewed as worth the money.
The demand is growing while the supply hasn’t improved in the suburbs which have made the prices go up. The capital city of Australia is still a favourite among investors who want to live their life king-size.
The affluent suburbs of Perth have led to a growth of 1.8% in the prestige property market which has made the city one of the most expensive places in the country. While the low-end houses are still stuck in the downturn, the top-end is presenting a different story.
The two-speed market is a result of the robust economy, steady job growth and growing demand for plush homes. The savvy investors are willing to enter the Perth market to expand their property portfolios as it offers better returns than other well-known cities.
The mansions available for sale in Adelaide are way more spectacular than the others found across the country. These stunning properties are winning hearts with their ostentatious interiors, a plethora of amenities and wealth of comfort.
From swimming pools to tennis courts, these homes are enticing buyers with grandiose and splendour. Many buyers from Sydney, Melbourne and overseas are opting for beachfront properties in Adelaide which have amplified the demand for high-end dwellings.
Australia is a wonderland filled with opportunities and prosperity. The top-end market of its charming cities has no intention of slowing down in the near future. From Gold Coast and Canberra to Perth and Adelaide, you can purchase luxury real estate for sale in any of the aforementioned cities to enjoy a bigger bang for your buck.