Luxury property values in Australia have surged dramatically over the past decade, and some homeowners may now be sitting on real estate they didn’t even realise qualifies as “luxury.” According to Ray White’s Luxury Report 2025, the threshold to enter the prestige property market has risen by a staggering 72% over the past 10 years, with the national benchmark now sitting at $2.52 million.

Where Luxury Starts Now

If you’re in Sydney, you’ll need at least $4 million to break into the luxury bracket — the highest starting point in the country. The city’s eastern suburbs continue to dominate, with enclaves like Double Bay, Bellevue Hill, and Vaucluse still commanding top dollar. Bellevue Hill alone featured five times on the list of top luxury sales, with Vaucluse close behind.

But it’s not just Sydney making waves. Some of the strongest growth has come from regional and lifestyle hotspots.

South East Queensland Leads the Charge

In a standout shift, South East Queensland has emerged as a luxury heavyweight.

• Gold Coast: Luxury homes now start at $2.6 million, more than double what they did a decade ago.

• Brisbane: Thresholds have jumped from under $1 million to over $2 million.

• Sunshine Coast: Not only has the region joined the top-tier ranks, but it also saw the highest growth in the country, with luxury prices up 132% since 2015. The entry point here is now $2.4 million.

Apartments Are Catching Up Too

It’s not just sprawling estates seeing these jumps. Luxury apartments, particularly in coastal Queensland, have posted record increases:

• Sunshine Coast: Up 110% over 10 years, with $2 million now the new luxury baseline.

• Gold Coast: Up 91.8%, from $1.1M to $2M.

• Sydney: Still the most expensive for units, where a luxury apartment starts at $2.2 million, up from $1.4 million.

What Actually Makes a Home “Luxury”?

While price is the starting point, it’s not the full story. Ray White’s Senior Data Analyst, Atom Go Tian, says luxury homes also stand out for their craftsmanship, rarity, and attention to detail. Whether it’s a penthouse with sweeping views or a coastal estate with bespoke finishes, prestige homes represent more than just square metreage; they reflect lifestyle, location, and uniqueness.

What This Means for Homeowners

With more properties than ever crossing the luxury line, it could be time to re-evaluate your property’s value, especially if you’ve owned it for 5+ years. Whether you’re thinking of refinancing, leveraging equity, or buying into one of these rising regions, now is a great time to speak with a broker who can help you make the most of the current market.

Want to know where your property stands in today’s luxury market? Let’s chat. You could be sitting on more equity than you think.