Knight Frank has released the results of its inaugural City Wellbeing Index, released in The Wealth Report 2020.

The index identifies the cities that are increasingly focused on the quality of life they are able to offer in order to attract entrepreneurs, skilled employees and encourage companies to grow and succeed. 

The highest ranking in the City Wellbeing Index for Australasia was Sydney in seventh place, while Melbourne came in just behind at number 11. 

Sydney was also ranked in the top 10 cities for greenspace and annual hours of sunshine.

Knight Frank’s inaugural City Wellbeing Index identifies the cities that are increasingly focused on the quality of life they are able to offer in order to attract entrepreneurs, skilled employees and encourage companies to grow and succeed.

The detailed analysis of 40 leading urban centres takes into consideration a host of factors including personal security, lifestyle, healthcare, crime, work-life balance and access to green spaces.

wellness_index_1.png

Source: Knight Frank The Wealth Report Attitude Survey

Knight Frank’s Wealth Report found European cities lead the City Wellbeing Index by some margin, with the Norwegian capital Oslo taking the top spot, followed by Zurich and Helsinki tied in second and Vienna in fourth.

Madrid rounds off the top five with Stockholm in sixth place.

For North America, Montreal is highest in ninth, for Asia it is Singapore in tenth and in the Middle East, Dubai takes the fifteenth spot.

Knight Frank’s Head of Residential Research Australia Michelle Ciesielski said Sydney’s overall ranking was influenced by being in the top 10 cities for green space and the hours of sunshine recorded each year.

“Sydney has one of the highest proportions of green space of any city in the world, coming in at third place with 46 per cent of public space in the city comprising parks and gardens, which was just behind Singapore’s 47 per cent," said Ms Ciesielski.

“We also know Australia’s climate is a huge attraction, so it’s no surprise Sydney came in at number nine for annual hours of sunshine, with 2,592 hours.

wellness_index_3.jpg

The list of cities that feature in the Wellness Index.  Source: Knight Frank The Wealth Report

“Liveability has always been high in Sydney and Melbourne, with both cities offering a high level of stability, environment and culture with world-class healthcare, education and infrastructure.

This was also reflected in both being in the global top three liveable cities according to The Economist Intelligence Unit in 2019.” 

Knight Frank Joint National Head of Private Office Kymbal Dunne said in the Knight Frank Attitudes Survey, they found 59 per cent of Australian ultra-high-net-worth individuals are increasingly concerned about the attitudes of companies they invest in towards the wellness of their employees, society and the environment.

“When buying property, 56 per cent of our Australian UHNW clients are increasingly concerned about the impact of the buildings they invest in on the wider environment," said Ms Dunne.

"Over 70 per cent are worried about climate change and the environment and are actively looking at ways to reduce their personal carbon footprint as well as contributing financially to philanthropic activities.

“The top three wellbeing philanthropic causes the Australian ultra-wealthy population are becoming more interested in are healthcare and disease prevention (83 per cent), education (77 per cent) and conservation of the environment (76 per cent)."

Ms Ciesielski added the most important attribute being considered by the ultra-wealthy when choosing a new prestige home is the availability and quality of local wellness facilities, including healthy-eating options, gyms, spas and sports clubs.

“The next three most important attributes are how the property design contributes to physical and mental wellbeing, the energy efficiency and environmental friendliness of the building and access to nearby green spaces for recreation and leisure.”

19_shellcove_road_kurraba_point.jpeg

19 Shellcove Road, Kurraba Point which sold recently through William Laing at Knight Frank Source: Knight Frank

Definitions
UHNWI – Ultra-high-net-worth individual – someone with a net worth of over US$30 million; including their primary residence. Also known as ultra-wealthy.
Prime Property – The most desirable and most expensive property in a given location, generally defined as the top 5% of each market, by value. Prime markets often have a significant international bias in terms of buyer profile.
The Knight Frank Attitudes Survey – Based on responses provided during October and November 2019 by 620 private bankers and wealth advisors who between them manage over US$3.3 trillion of wealth for UHNW clients.
The Knight Frank City Wellbeing Index – Compiled using measures of the following eight categories: green space, annual hours of sunshine, crime, traffic, congestion, happiness, quality of healthcare, work-life balance and governance.

Find out more details in Knight Frank's Wealth Report

Similar to this:

June quarter figures show 'all is well' in SA housing market, says REISA

Brand new Toorak family residence featuring cutting edge wellness technology

How to improve the health and wellbeing of employees in real estate