- Luxury residential price growth was strongest in the smaller Australian cities over 2020, according to the results of the Prime International Residential Index (PIRI 100) in the forthcoming edition of Knight Frank’s The Wealth Report 2021.
The PIRI 100, which tracks the movement of luxury residential prices across the world’s top 100 residential markets, found five Australian cities – Perth, the Gold Coast, Brisbane, Sydney and Melbourne – were ranked in the top 65 for luxury residential market performance over the past year.
But it was the smaller cities of Perth, the Gold Coast and Brisbane that were the strongest performing, recording annual price growth greater than the global average of 1.9%.
Perth was the top ranked city in Australia, coming in at number 34 with 3.6% annual growth, up from 0.9% one year earlier, when it was ranked 63 – and the last Australian ranked city.
The Gold Coast…
View original post 1,738 more words