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The Australia luxury residential real estate market size was valued at USD 24.02 billion in 2023. The market is further projected to grow at a CAGR of 5.3% between 2024 and 2032, reaching a value of USD 38.41 billion by 2032.
The increasing demand for luxury residences in major cities, driven by affluent and foreign buyers seeking high-end properties, significantly impacts Australia luxury residential real estate market growth. Also, the surge in median house prices in Australia's affluent capital cities, surpassing seven figures in the beginning of 2022, reflects the market's growth trajectory. For example, in Sydney, the median house price has accelerated significantly, rising by 5.3% quarter-on-quarter to reach AUD 1,535,869.
Moreover, the rising prices of real estate and annual capital growth in cities like Perth, Brisbane, Gold Coast, Sydney, and Melbourne, along with the emergence of Hobart as a hot property market, contributes to the overall growth of the luxury residential real estate market. For instance, the estimated total value of residential dwellings in Australia reached USD 10,397.1 billion in the December quarter of 2023. This represents an increase of USD 196.8 billion from the previous quarter.
Another trend towards home connectivity and the integration of smart technology in luxury residences, including smart alarms and surveillance systems, positively impacts the Australia luxury residential real estate market development. The rising popularity of internet-connected devices like Google Alexa and Amazon Echo in Australian homes drives the demand for technologically advanced luxury properties, shaping the market's offerings and consumer preferences.
Villas and landed houses represent a segment of the luxury residential real estate market in Australia characterised by features like private gardens, swimming pools, and smart equipment. These properties cater to affluent buyers seeking privacy, elegance, and expansive living spaces.
Apartments and condominiums properties, on the other hand, offer a sophisticated urban living experience with amenities such as concierge services, fitness centres, and panoramic views. These properties appeal to buyers seeking convenience, modern design, and access to city amenities.
Australia Luxury Residential Real Estate Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Region
Market players aim to provide exclusive properties with superior quality and unique features to cater to affluent buyers through innovative strategies and collaborations.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 24.02 billion.
The luxury residential real estate market in Australia is expected to grow at a CAGR of 5.3% between 2024 and 2032.
The luxury residential real estate market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 38.41 billion by 2032.
The market is being driven due to the availability of several suburban areas in Australia, rise in real estate prices, rising number of architects in the country, and increasing net worth of individuals.
In the luxury residential real estate market, key trends supporting expansion involve the demand for smart home features, sustainability and eco-friendly designs, emphasis on wellness amenities, and the integration of technology for security and convenience.
Regions considered in the market are New South Wales, Victoria, Queensland, Western Australia, and Australian Capital Territory, among others.
Based on type, the market segmentations include villas and landed house and apartments and condominiums.
Key players in the market are Nicon Built, Novus Homes, Englehart Homes Pty Ltd., Rossdale Homes Pty Ltd., Atrium Homes, Lomma Homes, Summit Homes Group, BBS Homes, Carlisle Homes Pty Ltd., and Bruin Builders, among others.
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Australia
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+61 448 06 17 27
India
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+91-858-608-1494
Philippines
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+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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