With its sizeable and growing number of HNW individuals, Australia is seen as an important market by the real estate consultancy.

Knight Frank has launched a new private office in Australia, which will operate with the support of its partners in Australia and New Zealand respectively, McGrath Estate Agents and Bayleys.

Heading the new office is Ari Petrovs, partner.

The new private office is joining others in the Knight Frank network including in London, Hong Kong, Singapore, Dubai and Jeddah.

The real estate consultancy sees Australia as an important market. Its 2025 wealth report found that the country was within the top 10 countries in the world for the highest population of HNW individuals – defined as those with more than $10 million. Sitting at ninth place, Australia has 1.8 per cent of the global $10 million-plus population, with 42,789 such persons. In Australasia, the number of HNW individuals rose by 3.9 per cent over 2024 and is predicted to increase by a further 5.3 per cent by 2028.

The private office team will also consist of ambassadors, including Knight Frank CEO James Patterson, McGrath chief executive John McGrath, McGrath head of international [business] and private clients Adam Ross, and Bayleys chairman and MD Mike Bayley.

Knight Frank and New Zealand-based Bayleys, both privately owned, have had a strategic relationship since 2018, and in June 2024 the two firms acquired a controlling stake in McGrath.