Australian property in context

For the average Australian, the local property market has been riding a bit of a rollercoaster. For the wealthiest investors of the world, Australia is hot property. That’s according to Knight Frank, which produces the Prime Global Cities Index every quarter. Five cities downunder ranked in the top 32 for luxury residential price growth, making Australia the only country with such a showing. The Gold Coast entered the index for the first time, a city where Knight Frank holds a post, on the back of robust demand from downsizers. On this year’s index, Sydney ranked 18th (2.5 per cent annual

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