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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

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Photo by shadowfirearts from Pixabay.