E
ver since Australia finally relaxed its harsh Covid lockdown rules, the number of people wanting to move there has taken off. Net migration in the year to July 2023 resulted in a population increase of 518,000 according to the Australian Bureau of Statistics — a significant number for a country that recorded a population of 25.6 million in 2021.
More than 80 per cent of Australian residents live by the coast, notably in Sydney and Melbourne, where prime property prices are rising fastest. The estate agency Knight Frank predicts the price of luxury property in Sydney will increase 5 per cent this year, on a par with Dubai and Madrid and behind only Auckland and Mumbai in terms of growth.
A six-bedroom penthouse with Sydney Harbour views in Crown Residences at One Barangaroo is for sale at AU$100 million (about £52.6 million) with Knight Frank
“There’s a growing trend of