Australia heads Ferrari boom - Financial Review

Date: 18.11.2016

Property boom suspected of propping up Ferrari bonanza.

First-time Ferrari buyers are becoming a bigger proportion of customers.

The Financial Review reports today that Australia now leads the world when it comes to 'growing' first-time Ferrari owners, when measured as a percentage of all sales.

Apparently we're outstripping China, Dubai and a host of other places you'd expect to have much deeper pockets.

So what's driving it? The belief of Ferrari Australia CEO Herbert Appleroth is our skyrocketing property prices are behind it, particularly in Sydney and Melbourne.

He adds there is a strong sense of confidence among business people, propeped up to some extent by the ownership of investment properties.

Average owner age has also dropped in the last few years, by four years to 49.

The company reports 146 sales for the first 10 months of the year - a record.

Apparently female ownership is growing, but China is ahead of us in that area.

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