_Sydney records 58% rise in sales of US$10m+ properties in Q4 2025

The firm’s Global Super-Prime Intelligence Q4 2025 report, which provides a unique quarterly snapshot of US$10m+ residential sales conditions across 12 key international markets, found Sydney saw a 58% rise in sales numbers over Q4 2025.

The city recorded 52 sales of US$10m+ properties for a total of $930 million, up from 33 sales for a total of $571 million in the previous quarter - Q3 2025.

The volume of super-prime sales in the last quarter of 2025 put Sydney in 5th place amongst the 12 global cities ranked, and ahead of global cities including Miami, London and Paris.

Over the whole of 2025 Sydney had 131 super-prime sales for a total of $2.355 billion, putting it in 7th and 8th place respectively when ranked against the other 11 global markets.

The Knight Frank report found that across the 12 markets analysed, a total of 555 US$10 million-plus sales were recorded in Q4, totalling US$10.3 billion, which was a 17% and 20% rise respectively on the figures for the previous quarter.

“Global super-prime activity accelerated in Q4 2025,” said Knight Frank Global Head of Research Liam Bailey.

“The average deal size edged up to US$18.6 million from $US18.1 million in the previous quarter as activity rose strongly in Dubai, Hong Kong, Sydney and Miami,” he said.

“Sydney posted one of the quarter’s strongest rebounds with a 58% increase in the number of super-prime sales, mirroring broader Australian housing resilience at the upper end of the market.

“On a 12‑month view, globally super-prime sales volumes eased slightly from the prior quarter’s peak to 2,164 sales across all markets with an aggregate value of US$40.5 billion, but this was still the second‑strongest rolling annual tally since 2021.”

The research found Dubai reasserted its dominance in the global rankings for super-prime sales, both for deal count (143) and value (US$2.5 billion) in Q4. This reflected strong end-of-year momentum, with a 39% increase in the number of US$10 million sales in Q4 from Q3, and a 27% rise in value. On annual performance, Dubai set a record year with 500 sales in 2025, just over three times London’s tally.

London slid again on a quarterly basis, ranking seventh by deal count in Q4 last year with 35 sales, with Sydney, Miami and New York all ahead, as debate over UK wealth and property taxation weighed on sentiment.

Adam Ross, Head of International and Private Clients at McGrath, Knight Frank’s partner in Australia*, said: “The final run into Christmas is always a busy time of year in the Sydney market and 2025 was no exception with 52 deals at US$10 million-plus in Q4.

Mr Ross said the majority of activity fell in Sydney’s eastern suburbs but Mosman, on the city’s lower north shore, followed closely behind with price records in the suburb being reset on a number of occasions.

“Lack of supply and strong demand at the top end continue to drive resilient activity,” he added.

View full report here