The number one suburb in Australia for house price growth will surprise you

Move over, Vaucluse. Take a seat, Toorak.

In a surprise result, Mollymook Beach has clocked the highest house price growth of any suburb in Australia over the past five years.

The New South Wales south-coast postcode, with powdery sand and turquoise water, registered a 106 per cent price hike, according to new Domain data.

It proves that buying well does not necessarily mean buying what the market would have traditionally considered as prestige.

The definition of luxury in property is shifting from time-honoured suburbs with cachet to emerging markets where lifestyle in the COVID age is the priority.

The median house price in Mollymook Beach now sits at $1.275 million, which is $315,000 less than Sydney’s median house price, as per Domain data.

Domain’s NSW Spotlight Report highlighted Mollymook Beach’s stellar long-term performance.

Other markets have outperformed it over 12 months, but nothing has trumped the town – population 2,447 – for five year growth.

“Looking into Regional NSW, one suburb that has witnessed exponential growth was Mollymook Beach, on the NSW South Coast, up by 62 per cent annually and 106 per cent over the past five years. This is the strongest rate of annual house price growth across all Australian suburbs,” the report, by Domain’s chief of research and economics Dr Nicola Powell said.

Mollymook Beach is in the City of Shoalhaven. Tourism NSW promotes its surfing events, snorkeling and diving spots around the headlands, and beautiful reef. Dolphins are a regularly seen playing in the waves.

Other house markets which nudged or hit triple-figure growth over five years for houses include Burleigh Waters on the Gold Coast (95 per cent), Cooroibah on the Sunshiune Coast (100 per cent), Avalon Beach in Sydney (95 per cent), Palm Beach on the Gold Coast (104 per cent) and Point Lonsdale in Victoria (100 per cent).

For sale in Mollymook Beach

24 Brookwater Crescent

SOLD - $1,295,000

24 Brookwater Crescent, Mollymook Beach NSW 2539

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8 Fairview Place

SOLD - $1,300,000

8 Fairview Place, Mollymook Beach NSW 2539

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23 Linden Way

SOLD - $1,015,000

23 Linden Way, Mollymook Beach NSW 2539

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76 Tallwood Avenue

SOLD - $1,700,000

76 Tallwood Avenue, Mollymook Beach NSW 2539

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196 Mitchell Parade