The world’s ultra-wealthy are moving capital — and Brisbane is now on their shortlist.
The Knight Frank Wealth Report 2026, released this week, delivers one of the most significant assessments of global wealth concentration in the 20-year history of the publication. Its conclusion for Australian property markets is unambiguous: the country sits at the intersection of two of the most powerful forces shaping global real estate — an accelerating domestic wealth boom and a structural shift in where the world’s richest individuals choose to live.
The headline number is striking. Globally, 89 people cross the US$30 million net worth threshold every single day. The world’s ultra-high-net-worth population — those worth more than US$30 million — reached 713,626 in 2026, up 30% from five years ago. The US accounts for 41% of all newly created ultra-wealthy individuals, but the story of where that wealth flows next is more geographically complex — and for Australia, more flattering — than the headline suggests.
Australia’s wealth trajectory is outlier territory
Australia’s ultra-high-net-worth population is forecast to grow by nearly 60% over the next five years, reaching 26,095 individuals — roughly one in every 1,000 residents. That pace puts it among the fastest-growing wealth markets in the developed world. More telling still: Australia’s billionaire population is forecast to increase by 77% by 2031, placing it fourth globally for billionaire growth, behind only Saudi Arabia, Poland and Sweden.
Knight Frank attributes this to more than rising asset prices. Australia’s wealth creation story, the report argues, is structurally deep — anchored in agriculture and mining, and increasingly driven by finance, business services and a maturing technology sector. In a world where wealth is becoming more mobile, that combination of durability and diversification matters.
Brisbane enters the global luxury conversation
The report’s Prime International Residential Index — which tracks luxury property price movements across more than 100 markets globally — names Brisbane alongside Miami and Mumbai as markets with material upside ahead. That is a significant designation. The PIRI 100, now in its 20th year, is one of the most closely watched benchmarks in global residential property.
The data supports the call. Super-prime apartment values in Brisbane have surged past the $9 million ceiling to trade above $15 million in just 12 months. Super-prime stock is now transacting above $48,000 per square metre. US$1 million buys 5% less Brisbane real estate today than it did in 2020 — a measure of how quickly the market has re-rated.
“Brisbane’s rise is part of a wider story about Queensland’s appeal to wealth,” said Adam Ross, McGrath’s head of international and private clients. “What we’re seeing is the convergence of major infrastructure investment, a favourable planning environment and growing international awareness ahead of the Olympics. There’s a real can-do attitude in the city. You can get an 80-storey tower approved in less than a year. Anywhere else in Australia, that’s simply not happening.”
Luxury prices across Brisbane grew 2.1% in 2025. The Gold Coast followed at 2.8%, with prestige homes above $22.5 million becoming increasingly common. Knight Frank’s analysis suggests the structural conditions for sustained outperformance are firmly in place.
What the wealthy actually want is changing
Perhaps the most consequential finding in the 2026 report is not about price growth at all. It is about demand composition. Knight Frank identifies a fundamental shift in luxury consumption — what it terms the “transformation economy” — in which the world’s wealthiest buyers are moving away from conspicuous acquisition toward investments that support personal wellbeing, longevity and a sense of belonging.
“Luxury is fundamentally evolving from the simple accumulation of goods towards more meaningful, experience-led consumption,” the report states. “Consumer choices underpin the growth of the transformation economy, prioritising investments that facilitate personal growth, wellness and a sense of belonging.”
This is not a marginal preference shift. It is reshaping how luxury residential product is conceived, positioned and priced. Developers and investors who recognised this shift early — embedding wellness infrastructure as a core design principle rather than an amenity afterthought — are increasingly the ones capturing the most discerning buyers at the top of the market.
The window is narrowing
Knight Frank’s broader framing in the 2026 report is deliberately cautious. The global economy faces renewed inflationary pressures, fractured supply chains and the residual effects of geopolitical conflict on energy markets. Central banks are navigating a more complex environment than at any point in the past decade.
In that context, the report identifies prime residential property — particularly in markets with structural supply constraints, strong underlying demand and genuine global appeal — as one of the more defensible allocations available to private capital.
For a city that spent two decades being underwritten as Australia’s third market, the Knight Frank Wealth Report 2026 represents something of a formal reclassification. Brisbane is not emerging. It has emerged.
Source: Knight Frank Wealth Report 2026, 20th Edition. Knight Frank Prime International Residential Index (PIRI 100). Data: Knight Frank Wealth Sizing Model. Quotes: McGrath International & Private Clients.