Australia may be known for its sun-drenched beaches and laid-back lifestyle, but it’s also home to some of the wealthiest cities and suburbs in the world. In 2025, economic trends such as booming real estate markets, migration patterns toward lifestyle hubs, and concentrations of high-net-worth individuals have redefined which urban centers top the wealth charts.
This article explores the Top 10 Richest Cities in Australia in 2025, ranked by millionaire population and economic clout, with narrative insights into why each city thrives.
Methodology & Data Sources
Primary Benchmark: The World’s Wealthiest Cities Report (2025) by Henley & Partners in collaboration with New World Wealth, which ranks cities globally based on the number of resident millionaires and billionaires. It provides reliable counts for Australian cities.
Supplementary Context:
- Insights from Metropole Australia & New Zealand, which offers breakdowns of affluent suburbs and HNWI (High Net-Worth Individual) statistics in major capitals.
- Economic and real estate reports highlighting city GDP profiles (e.g., List of cities by GDP) and property trends in 2025.
Top 10 Richest Cities in Australia (2025)
Here’s the wealth hierarchy based on millionaire population, bolstered with economic context and urban growth insights:
1. Sydney
- Millionaires: ~152,900; Centi-millionaires: 224; Billionaires: 22.
- As Australia’s financial heartbeat and luxury retail gateway, Sydney dominates. High-end suburbs like Bellevue Hill, Point Piper, Mosman, and Darling Point host multi-million-dollar properties—some exceeding $44 billion in total housing value.
- Ongoing strength in luxury retail, tourism, and global capital appeal cements it as a perennial wealth leader.
2. Melbourne
- Millionaires: ~94,000; Centi-millionaires: 108; Billionaires: 12.
- While trailing Sydney, Melbourne’s wealth is growing—up 42% among HNWIs over the past decade. Prestigious suburbs—Toorak, Brighton, Portsea, East Melbourne—play starring roles.
- It benefits from thriving arts, culture, education, and a luxury market steadily converging with Sydney’s.
3. Perth
- Millionaires: ~34,600; Centi-millionaires: 66; Billionaires: 9.
- Known for mining wealth and a high livability index, Perth’s affluent enclaves like Dalkeith, Cottesloe, and City Beach are among Australia’s most prestigious.
4. Brisbane
- Millionaires: ~26,400; Centi-millionaires: 39; Billionaires: 4.
- Drawing HNWI migration from other states, the city’s affluent suburbs—Teneriffe, New Farm, Chandler—are growing in prestige.
- Rising property values and lifestyle appeal continue to fuel wealth growth.
5. Canberra
- While not listed in the millionaire rankings above, Canberra stands out with one of the highest per capita incomes in Australia (~AUD 111,000).
- Its economy is anchored in the public sector, allied with education and tech investments, making it one of the richest cities by resident prosperity.
6. Adelaide
- Also not in the wealthiest-millionaire census, Adelaide shows strong economic characteristics, with per capita income around AUD 62,000 and steady real estate and industry growth.
- Diverse economic sectors—including defense and healthcare—position Adelaide as a quietly affluent city with upward momentum.
7. Gold Coast
- Not tracked in the millionaire report but economically vibrant—with a 2024 GDP of AUD 49.3 billion.
- The creative, tourism-driven economy (“Goldywood”), startups per capita, and media industries make it an increasingly affluent and dynamic urban area.
8–10. Other Rising Wealth Hubs (Honorable Mentions)
- Sunshine Coast, Newcastle, Hobart, and Geelong are regional cities showing economic and lifestyle appeal.
- Collectively, these centers are growing by capitalizing on remote work trends, affordability, and amenity-based value—mirroring broader national patterns.
Wealth Overview Table
| Rank | City | Millionaires (approx.) | Economic Strengths & Highlights |
|---|---|---|---|
| 1 | Sydney | 152,900 | Global finance hub; ultra-luxury properties; tourist & retail magnet |
| 2 | Melbourne | 94,000 | Fast-growing HNWI base; cultural & business center with strong livability |
| 3 | Perth | 34,600 | Resource-based wealth; upscale neighborhoods; quality of life |
| 4 | Brisbane | 26,400 | Lifestyle migration; growing affluence; suburban appeal |
| 5 | Canberra | — (high per capita) | High public sector incomes; education & tech sectors |
| 6 | Adelaide | — (moderate per capita) | Stable economic base; affordable lifestyle; diversified sectors |
| 7 | Gold Coast | — | Tourism & media economy; coastal wealth growth |
| 8–10 | Sunshine Coast, Newcastle, Hobart, Geelong | — | Regional wealth growth via affordability, remote work, and quality-of-life draw |
Insights: Why These Cities Lead in Wealth
Millionaire Concentration
Sydney and Melbourne dominate Australia’s wealth hierarchy by sheer numbers—holding tens of thousands of millionaires and multi-billion-dollar real estate markets.
Lifestyle Migration
Quality of life, affordability, and remote working are driving HNWI shifts to Brisbane, Adelaide, Canberra, and regional hubs—fueling suburban affluence and property value growth.
Economic Diversification
Cities like Perth, Adelaide, Canberra, and the Gold Coast leverage resource wealth, government sector strength, and cultural tourism, aiding their wealth resilience.
Conclusion
Australia’s wealth landscape in 2025 is multifaceted:
- Sydney reigns supreme with unmatched concentrations of millionaires and luxury.
- Melbourne’s rising wealth reflects dynamic economic and lifestyle trends.
- Perth and Brisbane show how resource markets and livability fuel financial success.
- Canberra and Adelaide prove that economic diversity and stable incomes are powerful wealth drivers.
- Gold Coast and regional cities like Sunshine Coast and Newcastle are emerging as wealth corridors thanks to lifestyle migration and evolving economies.
Together, they show how wealth in Australia is increasingly tied not just to urban size, but also to quality of life—and that the richest cities in the country are as dynamic as they are diverse.