Australia's obsession with luxury will headline next week's DesignBUILD expo in Sydney.

The country's largest design and construction expo will feature a panel discussion on the rise of luxury in Australia’s built environment as part of this year’s DesignBUILD expo.

Speakers will include Head of Residential Research at Knight Frank Australia Michelle Ciesielski, as well as William Smart from Smart Design Studio 

According to Knight Frank’s Wealth Report 2019, Australia has five cities in the top 50 in luxury residential market performance over the past year, with Sydney, Melbourne, Brisbane, Perth and the Gold Coast experiencing notable growth in luxury residential market performance globally. 

Ms Ciesielski said while international buyers had contributed to the strong luxury real estate market locally, Australians were also driving growth.

"Knight Frank considers the prime (luxury) property market to be the most desirable and most expensive property in a given location, or the top 5% of the market ranked by value," she said. 

“Without a doubt, the lifestyle in Australia is unrivalled around the world with a transparent business environment and on a global scale, prestige property is relatively affordable.” 

“Absolutely, luxury real estate must continue to grow to accommodate the 20% growth of Ultra High Net Worth Individuals in Australia over the next five years and the 11,000 new millionaires created across Australia in 2018. 

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Indigo Slam by Smart Design Studio. Source: Supplied.

Mr Smart from Smart Design Studio said the nation’s ageing population was a driving force behind the luxury design outcomes. 

“An older market tends to push people towards more timeless, quality outcomes, though not with all properties," he said.

“It also means that people think about all the practical things like maintenance, operating costs, ease of use and practicality,” he says. 

Smart Design Studio’s residential projects include the multi-award-winning Indigo Slam, a private house featuring a dining hall that can cater to 60 people along with a unique, elongated staircase. 

Mr Smart said he was seeing more customised responses and less concern with a checklist for resale. 

"For our luxury projects this is creating private gyms, day spas, art galleries and private dining rooms and the brief is to make them like no other space that has been seen before,” he said. 

“Australia’s architecture loves light, space and views, I believe more than anywhere in the world."

Ms Ciesielski and Mr Smart will be joined by more than 600 industry professionals at DesignBUILD, which runs across three days.

The event will have regular features such as the Australian Construction Industry Forum, information sessions in the Build Theatre, and a show floor comprising three sectors; Construction & Building Materials, Interior Fixtures & Finishes and Software & Technology.

This year's expo will also include the inaugural Transformative Technologies exhibition, which is being held in conjunction with the University of Technology. 

DesignBUILD 2019 will be held from May 14-16 at the International Convention Centre, Darling Harbour.

Click here for more information, including how to book tickets.

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