JUST 20 Melbourne suburbs were responsible for more than $10 billion worth of real estate sales last year.
The suburbs included many of the city’s wealthiest enclaves but also some more affordable areas such as Berwick, Glen Waverley and Reservoir.
Brighton topped the list of the city’s biggest earners, with a whopping $923 million worth of house and apartment sales in the last 12 months, according to new figures from RP Data.
The well-heeled postcode averaged 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 Melbourne’s 16th biggest earner, with a total turnover of $399.35 million.
Reservoir also made the list with $366.8 million.
RP Data spokesman Robert Larocca said 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,” Mr Larocca said.
“It’s a surprise to see the volume and scale of the now reasonably mature high-rise market in Melbourne.”
Jonathon Dixon, of JP Dixon real estate, said Brighton had received strong interest from Chinese buyers.
“Brighton is a beautiful suburb,” he said.
“Once you get a group into a suburb they pass it down the line.”
Berwick’s success was driven by turnover, according to O’Brien real estate director Dean O’Brien.
“It has exceptional turnover, and there are good quality schools and the university and the Tafe — and it’s affordable for first, second and third home buyers,” Mr O’Brien said.
“There’s a constant shift through the levels, to go from a three-bedroom house to a four-bedroom one is not a massive step.”
Suburb / Total spend in 2013
Brighton / $923,112,445
Kew / $644,889,698
Toorak / $642,600,982
South Yarra / $580,958,730
Glen Waverley / $569,249,843
Melbourne / $554,960,425
Richmond / $532,104,142
Hawthorn / $519,206,804
Glen Iris / $498,075,219
Balwyn North / $482,441,861
Camberwell / $486,868,530
Balwyn / $482,441,861
Mt Waverley / $461,262,576
Malvern East $430,794,786
Port Melbourne $421,301,736
Berwick $399,349,346
Southbank $379,076,636
Docklands $377,102,130
Reservoir $366,175,794
Bentleigh East $361,847,970
*Source: RP Data
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