Sydney Outpaces Melbourne In Australian Ultra Wealthy Rankings

Wealth-X Unveils List Of Top 5 Australian Cities by UHNW Population

News provided by

Wealth-X

Dec 12, 2012, 07:30 ET

SINGAPORE, Dec. 12, 2012 /PRNewswire/ -- Wealth-X, the ultra high net worth (UHNW) business development solution for Global Private Banks, Luxury Brands, Educational Institutions and Non-Profits, released a list of the top 5 cities in Australia ranked according to UHNW population. The rankings reflected the remarkable growth of the ultra wealthy in the country.

Sydney remains at the top of the list with 960 ultra high net worth individuals (UHNWIs), representing 28.7% of the total UHNW population in Australia. In second place is Melbourne with 730 UHNWIs, constituting 21.8% of the Australian UHNW segment. Brisbane is ranked third with 365 UHNWIs, representing 10.9% of Australia's UHNW population. Rounding out the top 5 are Perth and Adelaide with 360 and 150 UHNWIs respectively.

Rank

City

Total UHNW Population

% of Total Australian UHNW Population

1

Sydney

960

28.7%

2

Melbourne

730

21.8%

3

Brisbane

365

10.9%

4

Perth

360

10.7%

5

Adelaide

150

4.5%

The number of UHNWIs in these major cities stands at 2,565, representing 76.6% of the total UHNW population in Australia. Sydney continues to dominate the list with 960 UHNWIs, or 28.7% of the total.

Commenting on the list, Wealth-X CEO, Mykolas D. Rambus said, "Australia's resource boom has created new UHNWIs in mining and associated sectors." He noted, "Perth is on track to overtake Brisbane by 2014, in line with Wealth-X projections. Australia has clearly gone from strength to strength despite the global turmoil."

For the list and supplemental analysis, please visit: http://www.wealthx.com/articles/2012/top-5-australian-cities/

About Wealth-X

Wealth-X provides detailed intelligence on ultra high net worth (UHNW) individuals globally. The firm's Wealth-X Professional solution is the standard for banking, marketing and not-for-profit professionals working with the ultra affluent. Wealth-X is headquartered in Singapore with offices in all major financial centres.

For more information about Wealth-X, please visit: www.wealthx.com   

SOURCE Wealth-X

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