Top Luxury Markets

Three Australian cities have emerged as the unexpected Australian leaders of a surge in luxury property prices.

Knight Frank’s The Wealth Report 2026 features Perth, the Gold Coast and Brisbane in its Top 100 international list for luxury property price growth.

It says that Perth luxury property prices increased by 4.1% in the past year, the Gold Coast is up by 2.8% and Brisbane is up by 2.1%.

Both Sydney and Melbourne are also in the Top 100 but both capital cities recorded a decline in luxury property prices of 0.5% and 1.3%, respectively.

According to the report, Brisbane in particular has performed well in the past 12 months, with its rapid growth propelled by the 2032 Olympic Games and significant government infrastructure investment.

“A favourable planning environment has allowed developers to fast-track luxury projects, pushing top-end apartment prices from a historical ceiling of around $9 million to more than $15 million in just 12 months,” it says.

Internationally luxury residential prices rose by 3.2% in 2025.