Banana

Banana is positioned among the lower quartile of areas assessed nationally for population growth based on AreaSearch's assessment of recent, and medium term trends

Banana's population, as of February 2026, is approximately 9,239 people. This figure represents an increase of 422 individuals, a growth rate of 4.8%, since the 2021 Census which reported a population of 8,817. The change is inferred from the estimated resident population of 9,206 in June 2024 and address validation since the Census date. This results in a population density ratio of 0.30 persons per square kilometer. Banana's growth rate exceeded that of the SA3 area (4.0%), indicating it as a region with notable population increase. Natural growth contributed approximately 51.0% to overall population gains recently, although all drivers including interstate migration and overseas migration were positive factors.

AreaSearch uses ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022. For areas not covered by this data or years post-2032, Queensland State Government's SA2 area projections released in 2023 based on 2021 data are adopted. However, these state projections do not provide age category splits, so AreaSearch applies proportional growth weightings in line with ABS Greater Capital Region projections released in 2023 based on 2022 data for each age cohort. Population projections indicate a decline of 464 persons by 2041 according to this methodology. However, specific age cohorts are expected to grow, notably the 25 to 34 age group projected to increase by 205 people.

AreaSearch analysis of residential development drivers sees Banana recording a relatively average level of approval activity when compared to local markets analysed countrywide

Banana has recorded approximately 13 residential properties granted approval annually. Over the past five financial years, from FY21 to FY25, 67 homes were approved, with a further 8 approved so far in FY26. This results in an average of 8.6 new residents arriving per dwelling constructed each year over this period.

The demand significantly exceeds new supply, leading to price growth and increased buyer competition. New dwellings are developed at an average expected construction cost value of $309,000, which is below the regional average, suggesting more affordable housing options for buyers. In terms of commercial development approvals, Banana has recorded $9.1 million in FY26, indicating its primarily residential nature. Compared to the Rest of Qld, Banana shows moderately higher development activity, with 41.0% above the regional average per person over the five-year period.

This preserves reasonable buyer options while sustaining existing property demand. However, this level is lower than nationally, reflecting market maturity and possible development constraints. New building activity in Banana comprises 90.0% standalone homes and 10.0% attached dwellings, preserving its low-density nature with an emphasis on detached housing that attracts space-seeking buyers. The estimated count of people per dwelling approval is 606, reflecting its quiet, low-activity development environment. Population projections indicate stability or decline in Banana, which should see reduced housing demand pressures, benefiting potential buyers.

Banana has strong levels of nearby infrastructure activity, ranking in the top 40% nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified 37 projects likely to affect the region. Notable projects include Theodore Water Treatment Plant Upgrade, Banana Range Wind Farm, Theodore Wind Farm, and Multiple Dwelling Development. The following list details projects likely most relevant.

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

Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.

Employment performance in Banana exceeds national averages across key labour market indicators

Banana has a balanced workforce with representation from both white and blue collar jobs. Manufacturing and industrial sectors are prominent. The unemployment rate is 3.1%, lower than the national average.

Over the past year, employment stability has been relative. As of September 2025, 5,477 residents are employed, with an unemployment rate of 1.0% below Rest of Qld's rate of 4.1%. Workforce participation is high at 76.8%, compared to Rest of Qld's 65.7%. According to Census data, 23.7% of residents work from home, though Covid-19 lockdown impacts should be considered.

Employment is concentrated in agriculture, forestry & fishing, mining, and health care & social assistance. Banana shows strong specialization in agriculture, forestry & fishing, with an employment share seven times the regional level. However, health care & social assistance employs only 7.2% of local workers, below Rest of Qld's 16.1%. The ratio of 0.7 workers per resident indicates above-average local employment opportunities. Between September 2024 and September 2025, employment increased by 0.4%, while the labour force grew by 1.2%, leading to an unemployment rise of 0.7 percentage points. In contrast, Rest of Qld saw employment rise by 1.7% and unemployment increase by 0.3 percentage points during the same period. National employment forecasts from Jobs and Skills Australia project national employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Banana's employment mix suggests local employment should increase by 4.4% over five years and 10.5% over ten years, though these are simple extrapolations for illustrative purposes and do not account for local population projections.

Income levels align closely with national averages, indicating typical economic conditions for Australian communities according to AreaSearch analysis

AreaSearch's latest postcode level ATO data for financial year 2023 shows that income in Banana SA2 is approximately average nationally, with a median of $54,806 and an average of $67,857. This contrasts with Rest of Qld's figures of a median income of $53,146 and an average of $66,593. Based on Wage Price Index growth of 9.91% since financial year 2023, current estimates would be approximately $60,237 (median) and $74,582 (average) as of September 2025. Census data reveals that household, family, and personal incomes in Banana cluster around the 50th percentile nationally. Income analysis shows that the $1,500 - 2,999 bracket dominates with 33.5% of residents (3,095 people), mirroring regional levels where 31.7% occupy this bracket. After housing costs, residents retain 91.7% of income, reflecting strong purchasing power. The area's SEIFA income ranking places it in the 4th decile.

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

Banana's dwelling structure, as per the latest Census, consisted of 96.6% houses and 3.4% other dwellings (semi-detached, apartments, 'other' dwellings). In comparison, Non-Metro Qld had 76.4% houses and 23.6% other dwellings. Home ownership in Banana stood at 44.2%, with mortgaged dwellings at 27.9% and rented ones at 27.9%. The median monthly mortgage repayment was $1,300, lower than Non-Metro Qld's average of $1,655. Median weekly rent in Banana was $200, compared to Non-Metro Qld's $345. Nationally, Banana's mortgage repayments were significantly lower at $1,863 and rents substantially below the national figure of $375.

Banana has a typical household mix, with a fairly typical median household size

Family households constitute 71.7% of all households, including 31.3% couples with children, 32.4% couples without children, and 7.0% single parent families. Non-family households comprise the remaining 28.3%, with lone person households at 26.5% and group households making up 1.9%. The median household size is 2.5 people, aligning with the Rest of Qld average.

Banana faces educational challenges, with performance metrics placing it in the bottom quartile of areas assessed nationally

The area's university qualification rate is 13.6%, significantly lower than the Australian average of 30.4%. This discrepancy presents both a challenge and an opportunity for targeted educational initiatives. Bachelor degrees are the most common at 11.2%, followed by postgraduate qualifications (1.2%) and graduate diplomas (1.2%). Vocational credentials are prevalent, with 39.1% of residents aged 15 and above holding them, including advanced diplomas (7.2%) and certificates (31.9%).

Educational participation is high, with 31.1% of residents currently enrolled in formal education, comprising 15.3% in primary, 9.4% in secondary, and 1.8% in tertiary education.

No public transport data available for this catchment area.

Banana's residents are healthier than average in comparison to broader Australia with prevalence of common health conditions quite low across both younger and older age cohorts

Health data shows positive outcomes for Banana residents.

Mortality rates and health conditions align with national benchmarks. Common health condition prevalence is low across all age groups. Private health cover rate is 53% (4,859 people), slightly higher than the average SA2 area. The most prevalent medical conditions are arthritis (8.4%) and asthma (8.1%). 70.0% of residents report no medical ailments, compared to 67.6% in Rest of Qld. Health outcomes among working-age residents are typical. Banana has 18.6% seniors (1,721 people), lower than Rest of Qld's 20.4%. Senior health outcomes are above average and align with national rankings.

The latest Census data sees Banana placing among the least culturally diverse areas in the country when compared across a range of language and cultural background related metrics

Banana's cultural diversity was found to be below average, with 86.4% of its population being citizens, 94.8% born in Australia, and 98.2% speaking English only at home. Christianity is the main religion in Banana, comprising 66.6% of people, compared to 52.2% across Rest of Qld. The top three ancestry groups are Australian (37.0%), English (30.3%), and Scottish (7.8%).

Notably, German ancestry is overrepresented at 6.7%, compared to the regional average of 4.7%. Additionally, Australian Aboriginal ancestry is represented at 3.7%, slightly lower than the regional average of 3.9%.

Banana's population is slightly older than the national pattern

Banana's median age is 40, close to Rest of Qld's figure of 41 but exceeding the national norm of 38. The 5-14 age group is strongly represented at 13.6%, compared to Rest of Qld, while the 75-84 cohort is less prevalent at 6.0%. Post the 2021 Census, the 25-34 age group grew from 11.6% to 13.0%, and the 15-24 cohort increased from 10.2% to 11.2%. Conversely, the 55-64 cohort declined from 14.0% to 12.5%. By 2041, demographic modeling suggests Banana's age profile will significantly evolve. Leading this shift, the 25-34 group is projected to grow by 12%, reaching 1,341 from 1,197. The aging population trend is clear, with those aged 65 and above comprising 52% of projected growth. Meanwhile, the 45-54 and 65-74 cohorts are expected to experience population declines.