Australia’s prestige property market finds its footing again
The nation’s luxury real estate sector is recalibrating, with Melbourne and Sydney regaining momentum, Perth remaining tightly held, and prime demand rebounding.
Brisbane, Perth, Adelaide and the Gold Coast posted significantly stronger five-year luxury growth than Sydney and Melbourne. (Image source: Wirestock Creators/Shutterstock.com)
The chandelier never really flickers at the top end of town.
It may dim occasionally but Australia’s luxury housing market rarely goes dark.
In early 2026, the mood across the $5 million-plus segment is not exuberant, but nor is it subdued. Instead, it is deliberate, selective and increasingly defined by scarcity.
While the national median dwelling value rose 9.4 per cent over the past year, prestige markets are telling a more nuanced story.
…
