Balwyn North

An assessment of population growth drivers in Balwyn North reveals an overall ranking slightly below national averages considering recent, and medium term trends

The population of the Balwyn North statistical area (Lv2) is estimated at around 22,585 as of November 2025. This reflects an increase of 1,283 people since the 2021 Census, which reported a population of 21,302 people in the Balwyn North (SA2). The change is inferred from AreaSearch's resident population estimate of 22,511 following examination of the latest ERP data release by the ABS in June 2024 and an additional 82 validated new addresses since the Census date. This level of population equates to a density ratio of 2,484 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. Population growth for the area 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. For areas not covered, AreaSearch utilises VIC State Government's Regional/LGA projections released in 2023 with adjustments made employing weighted aggregation from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Anticipating future population dynamics, lower quartile growth is anticipated, with the area expected to grow by 1,005 persons to 2041 based on aggregated SA2-level projections, reflecting an increase of 4.1% in total over the 17 years.

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

Balwyn North recorded approximately 125 residential properties granted approval per year based on AreaSearch analysis. Over the past five financial years, from FY-21 to FY-25, around 625 homes were approved, with an additional 72 approved in FY-26 so far. On average, each dwelling constructed attracted about 0.6 new residents annually over these five years.

This indicates that new supply is meeting or exceeding demand, providing ample buyer choice and capacity for population growth beyond current forecasts. The average construction cost value of new properties was approximately $1,462,000, suggesting a focus on the premium market with high-end developments.

In FY-26, commercial approvals totaled $7.5 million, indicating limited commercial development activity. Building activity showed 71.0% detached houses and 29.0% townhouses or apartments, reflecting the area's suburban identity dominated by family homes. The population density was approximately 158 people per dwelling approval, indicating a low-density market. According to AreaSearch's latest quarterly estimate, Balwyn North is expected to grow by 936 residents by 2041. Given current development patterns, new housing supply should readily meet demand, offering favorable conditions for buyers and potentially facilitating population growth beyond current projections.

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

AreaSearch has identified 12 infrastructure projects that could impact the area significantly. Notable ones include: North Balwyn Village Upgrade, 2 Sylvander Street Townhouses, Verdure Balwyn North, and North East Link - Doncaster Interchange Upgrades. The following list details those likely to be 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.

The employment environment in Balwyn North shows above-average strength when compared nationally

Balwyn North has a highly educated workforce with professional services being prominent. The unemployment rate is 3.0% and there was an estimated 2.5% employment growth in the past year, according to AreaSearch data aggregation.

As of September 2025, 11,944 residents are employed, with an unemployment rate of 1.6% below Greater Melbourne's rate of 4.7%. Workforce participation is lower at 61.0%, compared to Greater Melbourne's 64.1%. Key industries include health care & social assistance, professional & technical services, and retail trade. The area specializes in professional & technical services with an employment share 1.4 times the regional level.

Construction has limited presence at 6.3% compared to 9.7% regionally. Employment opportunities locally appear limited based on Census working population vs resident population data. In the past year, employment increased by 2.5% while labour force grew by 2.8%, raising unemployment by 0.2 percentage points. This compares to Greater Melbourne's 3.0% employment growth and 0.3 percentage point unemployment rate rise. State-level data from 25-Nov shows Victoria's employment grew by 1.13% year-on-year, with an unemployment rate of 4.7%. National forecasts project overall employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Balwyn North's industry mix suggests local employment should increase by 7.2% over five years and 14.6% over ten years, though this is a simplified extrapolation for illustrative purposes only.

The economic profile demonstrates above-average performance, with income metrics exceeding national benchmarks based on AreaSearch comparative assessment

AreaSearch's aggregation of latest postcode level ATO data for financial year ending June 2023 shows Balwyn North had a median taxpayer income of $52,448 and an average income of $93,767. These figures are among the highest in Australia, compared to Melbourne's median of $57,688 and average of $75,164. Based on Wage Price Index growth of 8.25% since June 2023, current estimates for Balwyn North would be approximately $56,775 (median) and $101,503 (average) as of September 2025. According to the 2021 Census, household incomes in Balwyn North rank at the 85th percentile with a weekly income of $2,346. The largest income bracket comprises 27.8% earning over $4,000 weekly (6,278 residents). In contrast, the region has a predominant category of 32.8% earning between $1,500 and $2,999 weekly. Balwyn North's affluence is evident with 40.0% earning over $3,000 per week, supporting premium retail and service offerings. Housing accounts for 14.7% of income, with strong earnings placing residents within the 85th percentile for disposable income. The area's SEIFA income ranking places it in the 9th decile.

Balwyn North is characterized by a predominantly suburban housing profile, with strong rates of outright home ownership

Balwyn North's dwelling structure, as per the latest Census evaluation, consisted of 83.0% houses and 17.0% other dwellings. Home ownership stood at 46.9%, with 33.2% of dwellings mortgaged and 19.9% rented. The median monthly mortgage repayment was $3,078, and the median weekly rent figure was $554. Nationally, Balwyn North's mortgage repayments were significantly higher than the Australian average of $1,863, and rents were substantially above the national figure of $375.

Balwyn North features high concentrations of family households, with a median household size of 2.9 people

Family households comprise 81.3% of all households, including 47.6% couples with children, 21.2% couples without children, and 11.6% single parent families. Non-family households account for the remaining 18.7%, with lone person households at 16.9% and group households making up 1.8% of the total. The median household size is 2.9 people.

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

Balwyn North has a notably high level of educational attainment among residents aged 15 and above, with 50.7% holding university qualifications compared to the Australian average of 30.4% and the Victorian average of 33.4%. This higher-than-average educational attainment positions Balwyn North favourably for knowledge-based opportunities. Bachelor degrees are the most common qualification at 32.7%, followed by postgraduate qualifications (13.7%) and graduate diplomas (4.3%). Vocational pathways account for 17.4% of qualifications, with advanced diplomas making up 9.7% and certificates 7.7%.

Educational participation is particularly high in Balwyn North, with 34.1% of residents currently enrolled in formal education. This includes 11.7% in secondary education, 9.6% in primary education, and 8.5% pursuing tertiary education.

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

Balwyn North has 108 active public transport stops. These include lightrail and bus services. There are 26 different routes operating in total, serving 6,564 weekly passenger trips.

The average distance from residents to the nearest stop is 216 meters. On average, there are 937 trips per day across all routes, which equates to around 60 weekly trips per individual stop.

Balwyn North's residents boast exceedingly positive health performance metrics with very low prevalence of common health conditions across all age groups

Health outcomes data shows excellent results in Balwyn North, with very low prevalence of common health conditions across all age groups. Approximately 64% of the total population of 14,400 has private health cover, compared to the national average of 55.7%.

The most prevalent medical conditions are arthritis and asthma, affecting 5.6% and 5.5% of residents respectively. A significant majority, 77.7%, report being completely free from medical ailments, contrasting with 0% in Greater Melbourne. Balwyn North has 18.9% of residents aged 65 and over, totaling 4,268 people. Health outcomes among seniors align closely with the general population's health profile.

Balwyn North 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 North has a high cultural diversity, with 44.4% of its population born overseas and 48.8% speaking a language other than English at home. Christianity is the main religion in Balwyn North, accounting for 45.0% of people. Buddhism is overrepresented compared to Greater Melbourne, making up 6.0% of Balwyn North's population.

The top three ancestry groups are Chinese (25.8%), English (14.7%), and Australian (11.6%). Notably, Greek (6.5%), Italian (7.3%), and Sri Lankan (0.8%) ethnicities are overrepresented in Balwyn North compared to the regional average.

Balwyn North's median age exceeds the national pattern

The median age in Balwyn North is 42 years, which is significantly higher than Greater Melbourne's average of 37 years and Australia's national average of 38 years. The 15-24 age group comprises 17.3% of the population in Balwyn North, compared to Greater Melbourne. The 25-34 age cohort makes up 8.5% of the population. According to post-2021 Census data, the 15-24 age group has increased from 15.7% to 17.3%. Conversely, the 45-54 age group has declined from 15.9% to 14.5%, and the 5-14 age group has decreased from 14.4% to 13.3%. Population forecasts for 2041 indicate substantial demographic changes in Balwyn North. The 85+ age group is expected to grow by 76%, reaching 1,192 people from 677. Notably, the combined 65+ age groups will account for 81% of total population growth, reflecting the area's aging demographic profile. In contrast, the 0-4 and 5-14 age cohorts are expected to experience population declines.