A number of suburbs across the country reported billion-dollar sales in 2022, despite a slowdown in the residential property market caused by rate hikes.
The suburbs with the highest sales value over the past year were identified by PropTrack. Three metro suburbs and one regional suburb reported billion dollar suburbs during the past year.
With $1.65 billion in sales, Mosman in New South Wales topped the metro, followed by Brighton in Victoria with $1.41 billion, and Kew in Victoria with $1.04 billion.
Surfer’s Paradise in Queensland topped the regional list – it is the only regional suburb to report sales of over $1 billion.
Nearly all of the top performers reported a decline in sales value compared to last year, however.
In New South Wales, Randwick experienced a 30% decline in overall sales value to $868.55m. Despite that, it placed ninth on a list of best-selling suburbs.
On a yearly basis, only Port Macquarie in New South Wales and Upper Coomera in Queensland recorded gains in sales value.
Metro suburbs with the highest total value of sales in 2022
| Suburb | State | Overall Sales Value 2022 ($) | 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 |
