Spence

Spence has shown very soft population growth performance across periods assessed by AreaSearch

Spence's population was 2,587 as of May 2021. As of May 2026, it is around 2,537, reflecting a decrease of 50 people since the 2021 Census. This decrease is inferred from ABS estimates showing an estimated resident population of 2,535 in June 2025 and two additional validated new addresses since May 2021. The population density is approximately 1,669 persons per square kilometer, above the average seen across national locations assessed by AreaSearch. Overseas migration contributed around 51.9% of overall population gains during recent periods.

AreaSearch uses ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered and years post-2032, age group growth rates from ACT Government's SA2 area projections are adopted, using 2022 as the base year. Population projections indicate a decline by 273 persons by 2041, with the 85 and over age group projected to increase by 26 people.

The level of residential development activity in Spence is very low in comparison to the average area assessed nationally by AreaSearch

Spence has averaged approximately two new dwelling approvals annually over the past five financial years, with 11 homes approved between FY21 and FY25. No dwellings have been approved in FY26 to date.

The population decline in recent years suggests that new supply has likely kept pace with demand, providing good options for buyers. New properties are constructed at an average expected construction cost value of $224,000. Compared to the Australian Capital Territory, Spence has significantly less development activity, 85.0% below the regional average per person. This limited new supply generally supports stronger demand and values for established homes, reflecting the area's maturity and possible planning constraints. New development consists of 50.0% standalone homes and 50.0% medium and high-density housing, creating more affordable entry points and suiting downsizers, investors, and first-home buyers. This represents a considerable shift from the current housing mix, which is currently 92.0% houses, likely due to reduced availability of development sites and shifting lifestyle demands and affordability requirements. Spence reflects a highly mature market with around 1690 people per dwelling approval.

Given stable or declining population forecasts, Spence may experience less housing pressure in the future, creating favourable conditions for buyers.

Spence has limited levels of nearby infrastructure activity, ranking in the 17thth percentile nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch identified one major project expected to affect the region: Ginninderry Masterplanned Community - Strathnairn & Macnamara. Other notable projects include Gold Creek Country Club Build-to-Rent (Gold Creek Golf Club Redevelopment), New Northside Hospital, and Canberra Light Rail Stage 3: Belconnen to City.

Professional plan users can use the search below to filter and access additional projects.

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AreaSearch analysis reveals Spence recording weaker employment conditions than most comparable areas nationwide

Spence has an educated workforce with significant representation in essential services sectors. The unemployment rate was 5.4% over the past year, with an estimated employment growth of 1.1%. As of December 2025, 1,313 residents were employed, and the unemployment rate was 1.6% higher than the Australian Capital Territory's rate of 3.8%.

Workforce participation was lower at 67.7%, compared to the Australian Capital Territory's 70.5%. According to Census responses, 12.8% of residents worked from home. Dominant employment sectors include public administration & safety, health care & social assistance, and education & training. Spence shows strong specialization in construction with an employment share 1.6 times the regional level.

Conversely, public administration & safety had lower representation at 25.6%, compared to the regional average of 30.4%. The area offers limited local employment opportunities, as indicated by the Census working population vs resident population count. Over the year to December 2025, employment increased by 1.1% while labour force increased by 1.0%, leaving unemployment broadly flat. In comparison, Australian Capital Territory saw employment growth of 0.9%, labour force expansion of 1.2%, and a 0.3 percentage point rise in unemployment. Jobs and Skills Australia's national employment forecasts from May-25 project national employment to expand by 6.6% over five years and 13.7% over ten years, with varying growth rates between industry sectors. Applying these projections to Spence's employment mix suggests local employment should increase by 6.5% over five years and 13.3% over ten years.

The economic profile demonstrates exceptional strength, placing the area among the top 10% nationally based on comprehensive AreaSearch income analysis

The Spence SA2's median income among taxpayers was $69,559 in financial year 2023. The average income stood at $76,762 during the same period. This compares to figures for Australian Capital Territory of $72,206 and $85,981 respectively. Based on Wage Price Index growth of 10.44% since financial year 2023, current estimates would be approximately $76,821 (median) and $84,776 (average) as of March 2026. According to the 2021 Census, household, family and personal incomes in Spence rank highly nationally, between the 86th and 87th percentiles. Distribution data shows that 32.6% of residents (827 people) fall within the $1,500 - 2,999 weekly income bracket. Notably, 36.0% earn above $3,000 weekly. After housing costs, residents retain 87.2% of their income. The area's SEIFA income ranking places it in the 7th decile.

Spence is characterized by a predominantly suburban housing profile, with above-average rates of outright home ownership

Dwelling structure in Spence, as evaluated at the latest Census, comprised 92.5% houses and 7.5% other dwellings. In comparison, Australian Capital Territory had 63.3% houses and 36.7% other dwellings. Home ownership in Spence was 33.2%, with mortgaged dwellings at 46.1% and rented dwellings at 20.7%. The median monthly mortgage repayment in Spence was $2,120, higher than the Australian Capital Territory average of $2,080. Median weekly rent in Spence was $375, compared to the Australian Capital Territory figure of $450. Nationally, Spence's mortgage repayments were significantly higher at $2,120 versus the Australian average of $1,863, while rents were comparable at $375.

Spence has a typical household mix, with a higher-than-average median household size

Family households comprise 75.6% of all households, including 35.6% couples with children, 27.2% couples without children, and 11.0% single parent families. Non-family households make up the remaining 24.4%, with lone person households at 21.1% and group households comprising 2.8%. The median household size is 2.7 people, larger than the Australian Capital Territory average of 2.5.

Spence shows strong educational performance, ranking in the upper quartile nationally when assessed across multiple qualification and achievement indicators

The area's university qualification rate is 34.6%, significantly lower than the SA4 region average of 46.8%. Bachelor degrees are the most common at 20.7%, followed by postgraduate qualifications (8.6%) and graduate diplomas (5.3%). Vocational credentials are held by 31.8% of residents aged 15+, with advanced diplomas at 11.6% and certificates at 20.2%. Educational participation is high, with 31.2% currently enrolled in formal education.

This includes 10.1% in primary education, 8.6% in secondary education, and 5.6% pursuing tertiary education.

Transport servicing is high compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Transport analysis shows 27 active public transport stops in Spence, all serving buses. These stops are covered by 98 unique routes, offering a total of 7,199 weekly passenger trips. Transport access is rated excellent, with residents typically living within 150 meters of the nearest stop. Most residents commute outward due to its residential nature. Car remains the dominant transport mode at 90%, while bus accounts for 6%. Average vehicle ownership per dwelling is 1.6, higher than the regional average.

According to the 2021 Census, only 12.8% of residents work from home, which might be influenced by COVID-19 conditions. Service frequency averages 1,028 trips daily across all routes, equating to approximately 266 weekly trips per individual stop.

Health performance in Spence is lower than average with common health conditions somewhat prevalent across both younger and older age cohorts

Spence faces significant health challenges according to AreaSearch's assessment of mortality rates and chronic condition prevalence, with common health conditions somewhat prevalent across both younger and older age cohorts. The rate of private health cover is very high at approximately 57% of the total population (~1,446 people), compared to 62.4% across Australian Capital Territory.

The most common medical conditions in the area are mental health issues and asthma, impacting 10.9 and 9.4% of residents respectively, while 63.0% declared themselves as completely clear of medical ailments, compared to 70.2% across Australian Capital Territory. The working-age population faces notable health challenges with elevated chronic condition rates. The area has 18.3% of residents aged 65 and over (463 people), which is higher than the 14.3% in Australian Capital Territory. Health outcomes among seniors present some challenges, with national rankings broadly in line with the general population.

Spence ranks below the Australian average when compared to other local markets across a number of language and cultural background related metrics

Spence had a below average cultural diversity, with 83.3% born in Australia, 93.5% being citizens, and 88.5% speaking English only at home as of 2016 Census data. Christianity was the main religion, comprising 47.5%. Buddhism, at 1.5%, was overrepresented compared to Australian Capital Territory's 3.0%.

Top ancestry groups were Australian (28.5%), English (26.7%), and Irish (10.2%). Scottish (8.9%) and Polish (0.9%) were notably overrepresented, while Welsh (0.7%) had a slightly higher representation than the regional average of 0.6%.

Spence's population is slightly younger than the national pattern

Spence's median age is 38 years, which is higher than the Australian Capital Territory average of 35 but equivalent to the Australian median of 38. Compared to the Australian Capital Territory, Spence has a higher concentration of residents aged 75-84 (7.7%) but fewer residents aged 25-34 (10.9%). Between the 2021 Census and the present, the percentage of residents aged 75 to 84 has grown from 5.1% to 7.7%, while the 0 to 4 age group increased from 6.0% to 7.4%. Conversely, the 65 to 74 age group has declined from 11.6% to 8.6%, and the 5 to 14 age group dropped from 14.0% to 11.7%. By 2041, demographic modeling suggests Spence's age profile will change significantly. The 85+ cohort is projected to grow by 52%, adding 24 residents to reach 72. Residents aged 65 and above will drive 84% of population growth, indicating demographic aging trends. Meanwhile, the 45 to 54 and 75 to 84 age cohorts are expected to experience population declines.