In terms of distribution , Sydney has dominated the luxury house market with 64 per cent of all transactions taking place within the harbour city . This is up by 13 per cent from 2014 . Melbourne , which comes in second , with a loss of four per cent of its share to end 2023 with only 19 per cent of all luxury house sales . No other city comes close to attracting the demand that Sydney ( or even Melbourne ) commands . Perth even saw a seven per cent drop in share from nine per cent in 2014 .
N A T I O N A L
COUNT OF TRANSACTIONS AS PER CENT OF TOTAL LUXURY HOUSE TRANSACTIONS
2014 2023 2014 VS 2023
Sydney 51 %
64 % + 13 %
Melbourne |
23 % |
19 % |
-4 %% |
Brisbane |
5 % |
5 % |
-1 % |
Gold Coast |
2 % |
3 % |
+ 1 % |
Perth |
9 % |
2 % |
-7 % |
Adelaide |
1 % |
1 % |
0 % |
Canberra |
1 % |
1 % |
0 % |
Hobart |
0 % |
0 % |
0 % |
Darwin |
0 % |
0 % |
0 % |
Source : Ray White |
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Although Sydney grew two per cent to end 2023 with a 51 per cent share of all luxury unit transactions , the spotlight must be turned to the drama between Gold Coast and Melbourne . While Melbourne ’ s share more than halved in value , the Gold Coast showed a nine per cent share growth between 2014 and 2023 .
COUNT OF TRANSACTIONS AS PER CENT OF TOTAL LUXURY UNIT TRANSACTIONS
2014 2023 2014 VS 2023
Sydney 49 %
51 % + 2 %
Gold Coast |
1 % |
10 % |
+ 9 % |
Melbourne |
22 % |
10 % |
-12 % |
Brisbane |
5 % |
8 % |
+ 3 % |
Hobart |
4 % |
4 % |
0 % |
Adelaide |
3 % |
3 % |
0 % |
Canberra |
0 % |
2 % |
2 % |
Perth |
2 % |
2 % |
0 % |
Darwin |
0 % |
1 % |
+ 1 % |
Source : Ray White |
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