Brisbane: One of the Hottest Luxury Markets

• Brisbane is just one of a few cities globally experiencing unprecedented change in its luxury appeal, according to Knight Frank’s The Wealth Report 2026
• The city is experiencing rapid growth propelled by the 2032 Olympic Games and significant government infrastructure investment
• A favourable planning environment has allowed developers to fast-track luxury projects, pushing top-end apartment prices from a historical ceiling of around US$6 million (circa AU$9 million*) to more than US$10 million (circa AU$15 million) in just 12 months
• The research found there was a 2.1% average rise in Brisbane’s luxury residential property prices over 2025, while the Gold Coast saw a 2.8% rise
• In 2027 Brisbane, the Gold Coast and Perth are expected to be the strongest performing luxury markets, with 2% forecast growth in luxury residential prices
• in Brisbane US$1 million now buys 5% less than it did 5 years ago. The Gold Coast has seen the biggest reduction in buying power at 14%, but still offers the greatest value for money

Brisbane has been singled out as one of the world’s emerging global luxury hotspots alongside Miami, Mumbai and Abu Dhabi in Knight Frank’s landmark 20^th edition of The Wealth Report.

The report found Queensland’s capital city was one of just a few cities globally experiencing unprecedented change in its luxury appeal, and reshaping the geography of prime real estate. Brisbane – Australia’s third largest city – is experiencing rapid growth propelled by the 2032 Olympic Games and significant government infrastructure investment.

A favourable planning environment has allowed developers to fast-track luxury projects, pushing top-end apartment prices from a historical ceiling of around US$6 million (circa AU$9 million*) to more than US$10 million (circa AU$15 million) in just 12 months.

Super-prime product in Brisbane is now exceeding US$32,000 (circa AU$48,000) per square metre, reflecting intense demand for high-quality, turnkey apartment stock.

Knight Frank’s The Wealth Report 2026 also highlights strong momentum across Queensland’s broader luxury market, with lifestyle-led destinations such as the Gold Coast continuing to attract affluent buyers seeking prime homes and second residences. In Queensland, sales above US$15 million (A$22.5 million) are becoming increasingly common — a level that would once have been considered exceptional.

The research found there was a 2.1% average rise in Brisbane’s luxury residential property prices over 2025, while the Gold Coast saw a 2.8% rise.

Globally a 3.2% average rise in prime prices in 2025 was recorded, with this market outperforming mainstream global housing markets for the second consecutive year.

Prime International Residential Index – PIRI 100

Annual % change in prime residential prices, 2025

According to Knight Frank data, Perth is expected to see the greatest growth in prime residential prices over 2026, at 3%, while Brisbane and the Gold Coast are expected to remain stable (0% growth) and Sydney and Melbourne are expected to see a 2% fall. In 2027 Brisbane, the Gold Coast and Perth are expected to be the strongest, with 2% growth in luxury residential prices, while Melbourne will see a 1% rise and Sydney is forecast to be stable.

The growth in prime property prices has led to reduced buying power in many locations around the globe, and in Brisbane US$1 million (circa AU$1.5m**) now buys 5% less luxury residential real estate than it did 5 years ago, with this amount now buying 104sq m compared to 109sq m. The Gold Coast has seen the biggest reduction in buying power at 14%, but still offers the greatest value for money.

Australian cities still remain significantly more affordable than other cities around the world for luxury residential real estate, with buyers generally getting more bang for their buck.

How much prime property does US$1m buy in Australian cities?  

Source: Knight Frank Research, Macrobond. Currency calculation as at 31 December 2025.

Brisbane’s elevation comes as Australia’s overall wealth base expands rapidly. Knight Frank’s The Wealth Report 2026 forecasts Australia’s population of ultra-high-net-worth individuals — those with a net worth of US$30 million or more – will grow by almost 60 per cent over the next five years, while the number of billionaires will rise by 77%, helping to support demand for premium residential property across key cities.

Adam Ross, Head of International and Private Clients at McGrath, Knight Frank’s partner in Australia*, said Brisbane had arrived as a major player on the global prime property market stage.

“Brisbane’s rise is part of a wider story about Queensland’s appeal to wealth — from its cities through to its coastal lifestyle markets,” he said.

“The city’s emergence as a global luxury market has happened remarkably quickly.

“What we’re seeing is the convergence of major infrastructure investment, a favourable planning environment and growing international awareness ahead of the Olympics, which is creating more supply and demand.

“There’s a real can-do attitude in the city. You can get an 80-storey tower approved in less than a year. Anywhere else in Australia, that’s simply not happening.

“As the city evolves, it is increasingly drawing in more high-net-worth buyers attracted to the rare combination of lifestyle, scale and value.

“These factors are resonating not just with domestic buyers, but with global capital as well.”

Knight Frank International Partner and Managing Director Queensland Justin Bond said Brisbane had all the fundamentals in place for long-term growth.

“In recent years Brisbane has been prioritised as an investment location for global capital, with the city’s excellent growth prospects increasingly being acknowledged,” he said.

“The solid population growth we have seen in the city – and in fact, Queensland – is underpinning growth and will continue to do so for many years.

“The 2032 Olympics is also a major factor in investment decisions, as the event has not only put Brisbane on the world stage but has also led to significant public and private infrastructure spending.

“There are major infrastructure projects in the pipeline that will continue to transform the city, including Brisbane Live, Cross River Rail, Brisbane Metro and the Victoria Park Olympic Stadium project.”

Definitions:

THE PIRI 100: Now in its 20th year, the Knight Frank Prime International Residential Index tracks movements in luxury prices across the world’s top residential markets. The index, compiled using data from our research teams around the world, covers major financial centres, gateway cities and second-home hotspots – both coastal and rural – as well as leading luxury alpine resorts

PRIME PROPERTY: The most desirable and most expensive property in a given location, generally defined as the top 5% of each market by value. Prime markets often have a significant international bias in terms of buyer profile.

*Knight Frank, together with New Zealand-based Bayleys, has a partnership with Australian residential real estate group McGrath, following the acquisition of a controlling stake in the agency in June 2024.

**All currency calculations are at 31 December 2025.