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The Top 20 Melbourne Suburbs Ranked By Property Sales

20 Melbourne suburbs, and not surprisingly some of the wealthiest areas, were responsible for more than $10 billion worth of real estate sales last year according to RPData.

 In 2013 there were 81,590 residential sales in Melbourne and 107,845 in Victoria.

Looking at the Melbourne market over the medium term this is a comparatively low level of sales. Since the year 2000, nine years have seen a higher level of sales with a peak in 2007 with 105,194 sales.

The bayside suburb of Brighton topped the list with a whopping $923 million worth of house and apartment sales in the last 12 months,  averaging more than $2.5 million in sales per day – the same as Melbourne’s 124 lowest-grossing suburbs combined.

Kew was second at $644.9 million, followed closely by Toorak at $642.6 million.

The affordable outer-eastern suburb of Berwick was also in the list at number 16 and surprising Reservoir also made the list.

RP Data spokesman Robert Larocca told the Herald Sun  the figures reflected where the money was in Melbourne, but he was surprised Melbourne, Docklands and Southbank were also ranked highly.

“(Those suburbs) are predominantly unit markets, and in each of those you are seeing over $1 million a day being spent on real estate.

It’s a surprise to see the volume and scale of the now reasonably mature high-rise market in Melbourne.”

Suburb / Total spend in 2013

  1. Brighton / $923,112,445
  2. Kew / $644,889,698
  3. Toorak / $642,600,982
  4. South Yarra / $580,958,730
  5. Glen Waverley / $569,249,843
  6. Melbourne / $554,960,425
  7. Richmond / $532,104,142
  8. Hawthorn / $519,206,804
  9. Glen Iris / $498,075,219
  10. Balwyn North / $482,441,861
  11. Camberwell / $486,868,530
  12. Balwyn / $482,441,861
  13. Mt Waverley / $461,262,576
  14. Malvern East $430,794,786
  15. Port Melbourne $421,301,736
  16. Berwick $399,349,346
  17. Southbank $379,076,636
  18. Docklands $377,102,130
  19. Reservoir $366,175,794
  20. Bentleigh East $361,847,970

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Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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