Balwyn

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

The population of the Balwyn statistical area (Lv2) is estimated to be around 14,376 as of November 2025. This reflects an increase of 881 people since the 2021 Census, which reported a population of 13,495. The change is inferred from AreaSearch's resident population estimate of 14,290 following examination of ABS's latest ERP data release in June 2024 and an additional 90 validated new addresses since the Census date. This level of population equates to a density ratio of 3,282 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. The Balwyn (SA2) saw a growth of 6.5% since census, positioning it within 0.8 percentage points of its SA3 area's growth rate of 7.3%. Population growth was primarily driven by overseas migration during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022, and VIC State Government's Regional/LGA projections released in 2023 with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Future population trends anticipate lower quartile growth, with the area expected to grow by 680 persons to 2041 based on aggregated SA2-level projections, reflecting an increase of 3.2% in total over the 17 years.

Recent residential development output has been above average within Balwyn when compared nationally

AreaSearch analysis of ABS building approval numbers shows Balwyn averaged approximately 97 new dwelling approvals annually over the past five financial years, totalling an estimated 489 homes. As of FY26, 41 approvals have been recorded. Despite population decline in the area, housing supply has remained adequate relative to demand, resulting in a balanced market with good buyer choice. The average expected construction cost value for new homes is $1,367,000, indicating a focus on the premium segment with upmarket properties.

Commercial development approvals this financial year totalled $17.4 million, reflecting steady commercial investment activity. Compared to Greater Melbourne, Balwyn has slightly more development, with 27.0% above the regional average per person over the past five years. This maintains good buyer choice while supporting existing property values. New building activity shows 47.0% detached houses and 53.0% townhouses or apartments, demonstrating a trend towards denser development that appeals to downsizers, investors, and entry-level buyers.

Balwyn has approximately 143 people per dwelling approval, indicating a low density market. According to the latest AreaSearch quarterly estimate, Balwyn is forecasted to gain 458 residents by 2041. With current construction levels, housing supply should adequately meet demand, creating favourable conditions for buyers while potentially enabling growth that exceeds current forecasts.

Balwyn has very high levels of nearby infrastructure activity, ranking in the top 10% nationally

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified 13 projects likely to impact the area. Notable ones are White & Weston Balwyn Village, Koonung Creek Reserve Restoration, Maleela Rise Balwyn, and Parring Collection. The following list details those 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.

AreaSearch assessment positions Balwyn ahead of most Australian regions for employment performance

Balwyn has an educated workforce with strong professional services representation. Its unemployment rate was 2.8% in the past year, with estimated employment growth of 2.3%.

As of September 2025, 7,284 residents were employed, below Greater Melbourne's rate of 4.7%, and participation was lower at 57.7%. Key industries include health care & social assistance, professional & technical services, and retail trade. The area specializes in professional & technical jobs, with an employment share 1.4 times the regional level. Conversely, construction had lower representation at 5.1% versus the regional average of 9.7%.

Employment opportunities appear limited locally based on Census data. In the past year, employment increased by 2.3%, labour force by 2.6%, raising unemployment by 0.3 percentage points. Greater Melbourne recorded similar trends with slightly higher growth rates. State-level data to 25-Nov shows Victoria's employment grew by 1.13% year-on-year, with an unemployment rate of 4.7%. National forecasts from May-25 project total employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Balwyn's employment mix suggests local employment could increase by 7.3% in five years and 14.8% in ten years, based on simple weighting extrapolation for illustrative purposes only.

The area's income profile falls below national averages based on AreaSearch analysis

AreaSearch released postcode level ATO data for financial year 2023. Balwyn's median income among taxpayers was $48,625, with an average of $93,054. Nationally, this is extremely high compared to Greater Melbourne's median of $57,688 and average of $75,164. Based on Wage Price Index growth since financial year 2023, estimates for September 2025 are approximately $52,637 (median) and $100,731 (average). The 2021 Census shows household, family and personal incomes in Balwyn cluster around the 61st percentile nationally. The earnings profile indicates that 26.4% of residents earn between $1,500 - 2,999 weekly (3,795 people), reflecting regional patterns where 32.8% occupy this range. Notably, 33.5% exceed $3,000 weekly, suggesting strong purchasing power within the community. High housing costs consume 16.2% of income, yet disposable income ranks at the 63rd percentile nationally. The area's SEIFA income ranking places it in the 9th decile.

Balwyn displays a diverse mix of dwelling types, with above-average rates of outright home ownership

In Balwyn, as per the latest Census evaluation, 58.7% of dwellings were houses, with the remaining 41.3% being semi-detached, apartments, or other types. This compares to Melbourne metropolitan's figures of 55.5% houses and 44.5% other dwellings. Home ownership in Balwyn stood at 44.1%, with mortgaged dwellings at 28.1% and rented ones at 27.8%. The median monthly mortgage repayment was $3,000, aligning with Melbourne metro's average, while the median weekly rent was $451, also matching Melbourne metro's figure. Nationally, Balwyn's median monthly mortgage repayments were higher than the Australian average of $1,863, and rents were substantially above the national figure of $375.

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

Family households constitute 72.1% of all households, including 36.4% couples with children, 22.9% couples without children, and 11.8% single parent families. Non-family households account for the remaining 27.9%, with lone person households at 25.5% and group households comprising 2.4%. The median household size is 2.6 people, which is larger than the Greater Melbourne average of 2.5.

Educational achievement in Balwyn places it within the top 10% nationally, reflecting strong academic performance and high qualification levels across the community

Balwyn's residents aged 15+ have a higher university qualification rate at 52.7%, compared to Australia's 30.4% and Victoria's 33.4%. Bachelor degrees are the most common at 33.3%, followed by postgraduate qualifications (15.0%) and graduate diplomas (4.4%). Vocational pathways account for 17.9%, with advanced diplomas at 10.5% and certificates at 7.4%. Educational participation is high, with 32.1% currently enrolled in formal education: secondary (9.6%), primary (9.0%), and tertiary (9.0%).

Educational participation is notably high, with 32.1% of residents currently enrolled in formal education. This includes 9.6% in secondary education, 9.0% in primary education, and 9.0% pursuing tertiary education.

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

The analysis indicates 47 active public transport stops within Balwyn. These include a mix of light rail and bus services. The stops are served by 10 individual routes, collectively facilitating 2,843 weekly passenger trips.

Transport accessibility is rated as good, with residents typically situated 221 meters from the nearest stop. Service frequency averages 406 trips per day across all routes, equating to approximately 60 weekly trips per individual stop.

Balwyn's residents are extremely healthy with very low prevalence of common health conditions across all age groups

Analysis of health metrics indicates strong performance throughout Balwyn, with very low prevalence of common health conditions across all age groups. The rate of private health cover was found to be exceptionally high at approximately 63% of the total population (9,125 people), compared to 75.8% across Greater Melbourne and a national average of 55.7%. The most common medical conditions in the area were arthritis and asthma, impacting 6.6 and 6.0% of residents respectively, while 75.0% declared themselves completely clear of medical ailments compared to 73.8% across Greater Melbourne.

Balwyn has 23.2% of residents aged 65 and over (3,335 people), which is higher than the 19.4% in Greater Melbourne. Health outcomes among seniors are particularly strong, broadly in line with the general population's health profile.

Balwyn is among the most culturally diverse areas in the country based on AreaSearch assessment of a range of language and cultural background related metrics

Balwyn has a high level of cultural diversity, with 47.2% of its population speaking a language other than English at home and 46.9% born overseas. Christianity is the predominant religion in Balwyn, comprising 41.0% of people. However, Buddhism is more prevalent in Balwyn at 5.9%, compared to Greater Melbourne's average of 3.5%.

The top three ancestry groups in Balwyn are Chinese (27.6%), English (17.0%), and Australian (13.5%). Notably, Greek (3.4%) and Sri Lankan (0.6%) populations are proportionally higher than the regional averages, while Vietnamese (1.6%) is slightly overrepresented compared to Greater Melbourne's average of 1.2%.

Balwyn hosts a notably older demographic compared to the national average

The median age in Balwyn is 43 years, considerably higher than Greater Melbourne's average of 37 years and substantially exceeding the national average of 38 years. The age profile shows that those aged 65-74 are particularly prominent, making up 11.2% of the population, while those aged 25-34 are comparatively smaller at 10.1%. Between 2021 and present, the 15 to 24 age group has grown from 13.7% to 14.7%, while the 45 to 54 cohort has declined from 14.2% to 13.3%. By 2041, demographic projections reveal significant shifts in Balwyn's age structure. The 85+ age cohort is projected to rise substantially, increasing by 494 people (84%) from 589 to 1,084. Notably, the combined 65+ age groups will account for 86% of total population growth, reflecting the area's aging demographic profile. Conversely, the 0 to 4 and 25 to 34 cohorts are expected to experience population declines.