Australia’s super-rich population to grow by 20%

 

The number of ultra-wealthy Australians are forecast to swell by 20 per cent over the next five years, fuelling demand for prime real estate, a Knight Frank report showed.

Despite the slowing economy, very rich individuals are piling on their fortunes at such a rate that 613 will join the ranks of Australians with a net worth of over US$30 million ($44.73 million) by 2023.

This will take the total to 3675 ultra high net worth individuals (UHNWI) to 3675. Sydney will retain its position as the most desirable city for the ultra-rich…….

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Building approvals fall again in August

Building approvals fall again in August

Article Source: The Australian Financial Review – Oct 1, 2019 – Michael Bleby The prospects for new housing supply worsened further in August as approvals contracted for the fifth month out of the past six, pulled lower by weaker detached houses. Total new dwelling...

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