Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Already a subscriber? Login There is strong appetite among high-net-worth investors for luxury real estate, with buoyant migration and persistently elevated buildings costs impacting supply. The combination of high demand and constrained supply of premium properties across Australia is continuing to sustain luxury real estate.
“In-demand suburbs are experiencing a shortage of luxury real estate that is ready for owners to take possession of the premises without having to undertake substantial work on the property,” says Ben Braysich, executive manager– property, at Commonwealth Private. Prices for luxury properties are being supported by elevated building costs, which are about 30 per cent higher since the start of the pandemic. iStock “Demand for luxury properties is also growing thanks to strong migration underpinning the housing market.
” Prices for luxury properties are being supported by elevated building costs, which property data firm CoreLogic says are about 30 per cent higher since the start of the pandemic. “We continue to see a high demand for luxury real estate particularly, along the eastern seaboard, as Australian clients living overseas and locals appreciate the safe haven nature of the Australian property market,” says Braysich. Sponsored by Commonwealth Private This content has been funded by an advertiser and written by the Nine commercial editorial team.
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