{"id":21289,"date":"2019-10-03T10:18:08","date_gmt":"2019-10-02T21:18:08","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=21289"},"modified":"2019-10-03T10:18:08","modified_gmt":"2019-10-02T21:18:08","slug":"australias-super-rich-population-to-grow-by-20pc","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/australias-super-rich-population-to-grow-by-20pc\/","title":{"rendered":"Australia’s super-rich population to grow by 20pc"},"content":{"rendered":"

PHOTO:\u00a0The growing number of ultra-rich Australians fuels demand for prime real estate like the Crown Residences at One Barangaroo in Sydney.\u00a0<\/strong><\/p>\n

The number of ultra-wealthy Australians are forecast to swell by 20 per cent over the next five years, fuelling demand for prime real estate, a Knight Frank report shows.<\/p>\n

Despite the slowing economy, very rich individuals are piling on their fortunes at such a rate that 613 will join the ranks of Australians with a net worth of more than $US30 million ($44.8 million) by 2023.<\/p>\n

This will take the total to 3675 ultra-high net worth individuals (UHNWI) to 3675.<\/p>\n

Sydney will retain its position as the most desirable city<\/a>\u00a0for the ultra-rich, taking the lion’s share of 1054 people, while Melbourne will host 626 and Perth have 385.<\/p>\n

The\u00a0Knight Frank Wealth Trend<\/em>\u00a0report has also predicted an 18 per cent increase in the number of people with a net worth of more than $US1 million to 389,300 over the same period.<\/p>\n

READ MORE VIA AFR<\/a><\/p>\n