Gold Coast among world's elite but Australia's prestige property markets slipping
The Gold Coast has come in at number five on a list that tracks the price growth of luxury property markets around the world, but signs are emerging that Australia's prime property market is now retreating.
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While the bottom 95 per cent of the Australian property market struggles, the most expensive five per cent have delivered annual capital growth to rival the prestige markets around the world.
The majority of the most desirable and expensive properties around the world, generally defined as the top 5 per cent of each market by value, are still delivering price growth against a more general trend of falling property prices.
Of 45 countries assess…
