The highest value suburbs for 2019 revealed

“It’s important to understand the impact of this not only from the perspective of buyers and vendors but all industry participants,” Mr Kusher said.

“As fewer homes sell and transactional values go down, this is resulting in reduced total commission for agents and fewer mortgages across certain regions.”

The analysis looks at the last 12 months to February 2019, and compares it with the same period last year, across each state and territory across the country to find the suburbs that saw the greatest decline, greatest rise and highest total sales value:

NSW

The suburb with the largest value increase in NSW was Coleambally, with an increase in its sale value of 170.5 per cent to $8,941,206 over 27 sales, while the largest decline was St Leonards, which saw a decline of 78.4 per cent to $148,798,680 over 136 sales and was the largest decline out of all of the states and territories.

“Meanwhile, Mosman stands out on top with a total sales value of $1,375,636,488 over 659 sales, which is a decline of 21.8 per cent compared to the same period last year,” Mr Kusher said.

“To put this into perspective, if the average commission is approximately 1.5 per cent - 3.0 per cent, this would be a shared loss of commission of up to $1 million for agents in just this suburb.

“While Sydney suburbs have recorded quite a decline in the value of sales, regional NSW has a number of suburbs where the total value of sales has doubled over the year.”

Victoria

The regional suburb of Heyfield saw the largest increase in the state, with its sales value increasing by 100.6 per cent to $9,534,500 over 41 sales, and the Melbourne suburb of Campbellfield saw the largest decline of 56.2 per cent to $16,455,000 over 33 sales. Brighton stands out as being the suburb with the highest total value of sales at $925,353,902 over 430 sales, which represents a decline of 29.1 per cent.

“The regional suburbs of Heyfield and Lucas, however, have seen turnover double over the same period, although with property values much lower across these regions, this makes up a much lower dollar value turnover relative to the capital city regions, [p]articularly in comparison to the lower year-on-year sales values across the highest sales value list,” Mr Kusher said.

Queensland

Spring Mountain recorded the highest increase in sales value for the state, and out of all of the states and territories, recording an increase of 356.9 per cent up to $41,473,228 over 91 sales, and Jacobs well saw the largest decline of 65 per cent down to $23,723,300 over 37 sales. Surfers Paradise recorded the highest total value of sales at $816,360,562 over 1,348 sales, a decline of 11.8 per cent.

South Australia

Bowden recorded the highest increase for sales value for South Australia with an increase of 98.4 per cent up to $34,390,130 over 54 sales, while Risdon Park South saw the largest decline at 47.3 per cent to $4,405,000 over 23 sales. Adelaide, meanwhile, was the suburb with the highest value of suburbs at $212,894,036 over 447 sales, a reduction in sales value of 24 per cent.

“However, the overall value of properties turning over in this region is lower than the remaining four capital city suburbs in this list,” Mr Kusher added.

Western Australia

Treeby stood tall for largest sales value increase in WA at 162.4 per cent up to $31,106,000 over 58 sales and Gidgegannup saw the largest decrease at 53.1 per cent down to $18,583,000 over 23 sales. Cottesloe saw the highest total value of sales at $287,871,332 over 161 sales.

Tasmania

Sisters Beach recorded the highest increase in sales value at 116.3 per cent up to $13,257,999 over 36 sales, while Mowbray saw the largest decrease of 61.3 per cent down to $24,473,800 over 98 sales. Sandy Bay recorded the highest total value of sales at $203,753,268 over 228 sales, a decline of 8.6 per cent.

Northern Territory

Moulden clocked in with the highest increase in sales value of 88.6 per cent up to $11,494,500 over 37 sales and Desert Springs recorded the greatest decline at 50.5 per cent down to $9,424,500 over 20 sales. Humpty Doo saw the highest total value of sales at $36,484,000 over 67 sales, an increase of 86.7 per cent.

Australian Capital Territory

Higgins recorded the highest increase of sales value for the territory at 63.9 per cent up to $34,565,000 over 63 sales and Issacs recorded the largest decline at 36.8 per cent down to $27,950,500 over 39 sales. Kambah recorded the highest total value of sales at $140,483,572.