Melbourne tells a different story, holding relatively stable at 16.2 per cent, up marginally from 15.8 per cent in 2025 but still below the 16.5 per cent recorded in 2024. Unlike Sydney's expansion across multiple streets, Melbourne's luxury presence remains firmly concentrated at the Paris end of Collins Street, with little evidence of the category spreading elsewhere through the CBD. This concentration reflects a market where luxury retains its traditional address but has not found the same momentum for expansion seen further north.
Brisbane's luxury retail has continued to consolidate, easing to 9.5 per cent in 2026 from 9.9 per cent in 2025 and 10.8 per cent in 2024. Edward Street remains Brisbane's luxury hub, and this three year trend of gradual contraction suggests the category is settling into a smaller, more defined footprint within the CBD rather than expanding to match Sydney or Perth's trajectory.
Perth is the standout growth story outside Sydney, with luxury tenancies climbing to 8.4 per cent from 7.5 per cent in 2025 and just 5.3 per cent in 2024. That growth is heavily concentrated along Murray Street with the completion of Raine Square playing a significant role, providing a modern, purpose built environment that has proven attractive to international retailers entering the Perth market for the first time. If this trajectory continues, Perth is well placed to close the gap on Brisbane's luxury share within the next survey period.
Elsewhere, luxury retail remains largely absent. Adelaide sits stable at 1.5 per cent from 0.8 per cent in 2024 and Canberra Civic sits at just 0.7 per cent, while Hobart records no luxury tenancies at all. These smaller markets simply lack the scale, tourism flow and international visitor base that underpins luxury retail's business case and with online luxury sales continuing to grow strongly, brands are choosing to concentrate physical representation in fewer, larger markets rather than spread into cities where foot traffic cannot justify the investment.
