Prestige Property Report
Dynamics behind a rising market
Prestige property represents the epitome of desirability and highest quality real estate, typically representing the top 5% of each market by value. This asset class offers a powerful wealth-building tool, but navigating its intricacies demands an understanding and appreciation of market dynamics and the unique factors that drive value and influence transactions in this segment.
At Westpac Private Bank, we understand the unique aspirations of discerning high net worth individuals and their families when it comes to property ownership. In partnering with leading property researcher CoreLogic to present this report, we have developed a valuable resource to help you to make informed decisions when it comes to your property purchase decisions in the year ahead.
Key insights
Uncover the drivers and dynamics of the Australian prestige property market including:
Snapshot of prestige sales
Market conditions and drivers
Investment trends
Yield and value analysis
Evolving trends and opportunities
Our inaugural report details the market hotspots for prestige property, including the most coveted locations across Australia.
About Westpac Private Bank
At Westpac Private Bank, we’ve built relationships of confidence and trust with high net worth individuals and their families over generations. We are committed to providing outstanding personalised service and innovative global investment opportunities to our clients. Our dedicated private banking teams provide access to a range of services for our clients’ banking, lending and investment requirements, assembling experts from an extended team across the Westpac Group to deliver solutions to meet their needs.
Resources
Tight supply drives solid price gains
Australian property prices have continued to trend higher so far in 2024, although the key Sydney and Melbourne markets are showing signs of fatigue.
Westpac Housing Pulse May 2024
The inside word on Australia's residential property market drawing on detailed insights from the Westpac Melbourne Institute Consumer Sentiment survey and Westpac Economics' macro views.
Australian dwelling prices: widening gap
May CoreLogic home value index: 0.8%mth; 8.8%yr. Sydney-Melbourne in ‘slow-lane’ as Brisbane-Perth-Adelaide surge.
Things you should know
© 2024 Westpac Private Bank - division of Westpac Banking Corporation ABN 33 007 457 141 (AFSL and Australian credit licence 233714) (“Westpac”). Unless otherwise specified, the products and services described in this publication are available only in Australia. Westpac’s Financial Services Guide can be obtained by contacting your Private Banker.
This information is not financial advice and is for informational purposes only. This information has been prepared without taking account your personal objectives, financial situation or needs. It should not be considered a comprehensive statement on any matter nor relied upon as such. Because of this you should, before acting on this information, seek independent financial and taxation advice to determine its appropriateness to your objectives, financial situation and needs .
Read the disclosure documents for your selected product or service, including the Terms and Conditions, before deciding. Target Market Determinations for the products are available. For Westpac issued products, conditions, fees and charges apply. These may change or we may introduce new ones in the future. Full details are available on request. Lending criteria apply to approval of credit products.
This information may contain material provided by third parties. Although we have made every effort to ensure this information is free from error, none of Westpac or its related entities warrants the accuracy, adequacy or completeness of this information, or otherwise endorses it in any way. Except where contrary to law, Westpac intends by this notice to exclude liability for this information.
This information is subject to change without notice and none of Westpac or its related entities is under any obligation to update this information or correct any inaccuracy which may become apparent at a later date. Please contact your Private Banker to receive updated information.
This information may contain or incorporate by reference forward-looking statements. Past performance is not a reliable indicator of future performance, nor are forecasts
of future performance. Whilst every effort has been taken to ensure that the assumptions on which any forecasts are based are reasonable, the forecasts may be affected by incorrect assumptions or by known or unknown risks and uncertainties. The ultimate outcomes may differ substantially from any forecasts.
This publication reproduces materials and content owned or licenced by RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic) and may include data, statistics, estimates, indices, photographs, maps, tools, calculators (including their outputs), commentary, reports and other information (CoreLogic Data). The analysis is based on known settled sales at the time of the analysis.
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