Independent global property consultancy Knight Frank's
Prime Global Cities Index Report has just been launched, tracking prime residential prices across 37 global cities worldwide.
Knight Frank launched the index, which revealed an increased in residential prices of 4.4% in the year to June 2016 - its highest rate of growth over the last two years.
According to Knight Frank Residential Research Director Michelle Ciesielski, Australia is considered highly desirable for long-term wealth preservation despite a continuing global uncertainty.
“It also helps that Australia is highly ranked for lifestyle and well-placed for the education of future generations, despite the Foreign Investment Review Board (FIRB) application fees, as well as foreign investor duties and land tax surcharges in Sydney and Melbourne.
“Locally, Australia has seen a steady recovery in non-mining activity towards a more services sector- dominated economy.
"The share market has experienced an upward trajectory over the course of 2016, whilst business confidence remains positive in this low-interest environment,” says Ms Ciesielski.
Results for Q2 2016: