Lacklustre luxury property fails to keep pace with broader market
Luxury property delivers many things, from great views to the best local amenities, but for now strong capital growth is not one of them.
Growth in Australia's luxury property market remains below the long-run average of 5.3 per cent. (Image source: Shutterstock.com)
Luxury property in Australia is delivering economy-class results for property investors, with capital growth rates below that of the wider market and tumbling compared to other international prestige markets.
Perth and Brisbane have delivered the strongest growth among the top 5 per cent of properties but even their performance was far short of spectacular and broadly in line with inflation.
Melbourne and Sydney luxury markets
went backwards, w…
