Number of ultra-wealthy Australians to swell by 20 per cent over the next five years
613 additional Australians will have a net worth of more than $US30 million ($44.8 million) by 2023. There are currently 3,675.
- The research by Knight Frank shows that this surge will fuel demand for prime real estate.
- Sydney will retain its position as the most desirable city for the ultra-rich.
- Australia's billionaire population is projected to grow by a further 14 per cent to 49.
- The rise in the ultra-wealthy has come off the back of resilient stock and bond markets, as well as the strong long-term property price growth.