PHOTO: Can you tell which five Australian cities made the cut for the list of the world’s fastest luxury property price growth? (Source: Getty)
The Australian economy is recovering from a property downturn, but the growth in national house prices is still faster than many cities across the world.
And it’s expensive property that’s in highest demand.
In fact, a handful of Australian cities rank among other leading global cities for having some of the fastest luxury property price growth in the world.
Sydney, Brisbane, Melbourne, Gold Coast, and Perth all feature on Knight Frank’s Prime Global Cities Index of Q2 2019, which tracks the movement in luxury residential prices across 46 global cities.
Sydney ranks in at 18th place, with 2.5 per cent rise in luxury property prices in the 12 months to June 2019.
Brisbane came 20th place, recording 2.2 per cent price growth, followed closely by Melbourne at 2.1 per cent.
Gold Coast is a new name on the list, with the newcomer ranking 27th and recording 1.1 per cent growth in luxury property prices, while Perth – at 32nd place – saw 0.6 per cent growth.
READ MORE VIA YAHOO