Luxury property has led the surge in prices over the past decade, with new data showing that high-end houses and units performed the best.
According to the Ray White Luxury Property Report, luxury house prices increased 84 per cent since 2014, while median house prices grew by only 70 per cent.
Notably, Hobart’s luxury market has been the best performing, up 122 per cent over the last 10 years, while Brisbane follows close behind with 102 per cent growth.
Meanwhile, luxury unit prices also outpaced median unit prices growing 58.3 per cent compared to 31.5 per cent.
Hobart had the largest growth rate across major cities with 101 per cent for luxury units and 102 per cent for median units.
