Sydney Prime Property Prices Forecast To Keep Growing
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Sydney Prime Property Prices Forecast To Keep Growing

As the prestige residential market around the world continues to surge.

By Terry Christodoulou
Mon, Nov 22, 2021 2:33pmGrey Clock 2 min

Sydney will be the second-highest city for prime price growth in 2022 (9%), only behind Miami (10%) according to Knight Frank’s Prime Global Forecast data on prime property markets around the world.

The NSW capital is estimated to reach prime residential growth of 12% by the end of 2021, after recording 10.7% growth in the year to Q3 2021. This is in line with other global cities, with Knight Frank’s Prime Global Cities Index for Q3 2021 showing that 33% of global cities registered price growth above 10% in the same period.

With borders reopening and the return of investors combined with domestic buyers looking for second homes – the report posits that prime prices will accelerate further across Australia.

However, this is not a trend that is isolated to Australia, with Knight Frank’s data showing that 84% of global cities saw prime prices rise on an annual basis – a percentage that is growing each quarter.

Michelle Ciesielski, Knight Frank’s head of residential research indicates that the prime residential market will experience a lengthier upward swing — in line with other global cities.

“There have now been 35 consecutive quarters of uninterrupted positive annual growth in Sydney’s prime market, averaging 7.3% growth since 2013. Although we’re hearing of record prices being achieved at the very top end, the growth in the prestige market is steadily coming off a much higher footing,” said Ms Ciesielski.

“Contributing to Sydney’s prime values, the super-prime market is performing exceptionally well with many suburban records being achieved in excess of $10 million, especially for those homes located close to the water.”

Sydney wasn’t the only Australian city to perform well in the prestige market in the year to Q3 2021. All five major cities ranked in the top 23, from 45 global cities in the Prime Global Cities Index Q3 2021, averaging 9.3% annual growth – although this is still shy of the overall rate of growth for the global index at 9.5%.

While Sydney saw 10.7% annual growth in this time, Gold Coast and Perth were close behind with double-digit growth of 10.5% and 10.4%, respectively. Brisbane registered 8.4% growth, whilst Melbourne continued to pick up pace with 6.5%.

Following Sydney’s prime forecast of 9% in 2022, Gold Coast is earmarked to see the prime residential market grow by a further 8%, whilst Melbourne closer to 7%, followed by Perth and Brisbane at 6%.

Knight Frank defines the prime residential market as being the most desirable and expensive property in a given location, generally defined as the top 5% of each market by value.



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THE MAKING OF A DRIVING LEGEND

Ever wondered what it takes to create a car like the Maserati? Meet the German designer taking on an Italian icon.

By Robyn Willis
Thu, Jan 16, 2025 3 min

Klaus Busse would like you to close your eyes and imagine yourself behind the wheel of a Maserati. Picture the GranTurismo, which launched in Australia in 2024. Where do you see yourself? Chances are, Busse suggests, it’s not during the school pick-up or commuting to the office.

“You’re probably on a wonderful road in Tuscany, or Highway 1, or you’re going to a red carpet event,” says Busse, who holds the enviable title of Head of Design at Maserati, the iconic Italian car manufacturer. “Basically, it’s about emotion.”

At the luxury end of the market, the GranTurismo Coupe—priced between $375,000 and $450,000—is designed to transform the driving experience into something extraordinary. For Busse and his team, these “sculptures on wheels” are not just status symbols or exhilarating machines but expressions of pure joy. Their mission is to encapsulate that feeling and translate it into their cars.

“I really feel the responsibility to create emotion,” he says. “We have a wonderful word in Italy: allegria, which is best translated as ‘joyful.’ Our job as a brand is to lift you into this area of joy, perfectly positioned just short of ecstasy. It’s that tingling sensation you feel in your body when you drive the car.”

Even as 60 percent of the world’s population now lives in urban areas, Maserati’s design ethos captures the essence of “everyday exceptional.” Whether navigating city streets or open roads, a Maserati turns heads without being ostentatious or aggressive. “I’ve driven these cars all over the world, and no matter where I go, people smile at me and give a thumbs-up,” says Busse.

Since joining Maserati in 2015, Busse has reimagined and redefined the brand, steering his team through the reinvention of classic models and the transition to electric vehicles. Iconic designs like the Fiat 500, which entered the EV market in 2020, serve as a testament to Maserati’s ability to blend tradition with innovation.

Unlike other luxury car brands, Maserati embraces radical change with new designs every 10 to 15 years. Busse loves connecting with fans who follow the brand closely. He explains that each Maserati model reflects a specific era, from the elegant 35GT of the 1950s to the wedge-shaped designs of the 1970s and the bold aesthetics of the 1980s.

 

“I often ask fans, ‘What is Maserati for you?’ because their responses tell me so much about how they connect with the brand,” he shares.

Inspired by legendary Italian designer Giorgetto Giugiaro, Busse balances tradition with modernity in his designs. As Giugiaro once told him, “We always do the best in the moment.” This philosophy resonates deeply with Busse, who believes in honouring the past while embracing future possibilities.

Through advances in technology, techniques, and societal trends, Busse ensures Maserati remains at the forefront of automotive design. For him, the creative process is more than just a job—it’s a way to create joy, connection, and timeless elegance.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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