Despite the overall slowdown in the residential property market over the past year due to rate rises, there are several suburbs across the country that still reported billion-dollar sales in 2022.
A report from PropTrack identified the metro and regional suburbs that reported the highest sales value over the past year.
Three metro and one regional suburbs reported billion dollar suburbs.
Across the metro, Mosman in New South Wales clocking the highest sales at $1.65bn followed by Brighton in Victoria with $1.41bn, and Kew in Victoria with $1.04bn.
Meanwhile, Surfer’s Paradise in Queensland dominated the list for regional list — it is the only regional suburb that reported sales of over $1bn.
It is important to note, however, that almost all of the top performers reported a decline in sales value compared to last year.
For instance, Randwick in New South Wales witnessed a 30% decline in overall sales value to $868.55m. Still, it placed ninth in the list of top-selling metro suburbs.
Overall, only Port Macquarie in New South Wales and Upper Coomera in Queensland recorded gains in total sales value on a yearly basis.
Metro suburbs with the highest total value of sales in 2022
|
Suburb |
State |
Overall Sales Value 2022 ($) |
Year-on-year change (%) |
|
Mosman |
NSW |
1,647,710,425 |
-27 |
|
Brighton |
VIC |
1,417,688,027 |
-15 |
|
Kew |
VIC |
1,044,394,803 |
-2 |
|
Glen Waverley |
VIC |
967,030,589 |
-13 |
|
Castle Hill |
NSW |
932,117,854 |
-21 |
|
Toorak |
VIC |
891,639,127 |
-21 |
|
Mount Waverley |
VIC |
882,861,097 |
-11 |
|
St Ives |
NSW |
881,609,356 |
-8 |
|
Randwick |
NSW |
868,554,008 |
-30 |
|
Manly |
NSW |
841,739,500 |
-27 |
Regional suburbs with the highest total value of sales in 2022
|
Suburb |
State |
Overall Sales Value 2022 ($) |
Year-on-year change (%) |
|
Surfers Paradise |
QLD |
$1,079,162,553 |
-27 |
|
Port Macquarie |
NSW |
$933,448,331 |
2 |
|
Buderim |
QLD |
$760,504,914 |
-11 |
|
Southport |
QLD |
$674,891,075 |
-13 |
|
Hope Island |
QLD |
$633,729,513 |
-30 |
|
Palm Beach |
QLD |
$580,845,774 |
-12 |
|
Maroochydore |
QLD |
$579,087,861 |
-7 |
|
Robina |
QLD |
$554,845,716 |
-4 |
|
Orange |
NSW |
$505,498,832 |
-7 |
|
Upper Coomera |
QLD |
$502,260,975 |
1 |
—
Photo by shadowfirearts from Pixabay.
