High net worth individuals in the country have grown by 15.5%, according to RBC Wealth management Asia-Pacific Wealth Report of 2013. It is forecasted that Australia and the Asia-Pacific will lead the world in HNWIs by 2014. The GDP rising by 3.6%, share markets increasing by 2.1% for property values all attributed to the growth of HNWIs by 9.4% over 2012 according to the report.
What’s interesting to note is that 40% of HNWIs invest in property investments. This percentage exceeds the global average twice, a clear indication that demand for property in Australia is not waning.
Read more about this on the Australian Broker Online website.