Banksia

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

As of May 2026, Banksia's population is estimated at around 3,714, reflecting an increase of 437 people since the 2021 Census. This growth represents a 13.3% rise from the previous population count of 3,277. The change was inferred by AreaSearch following examination of the latest ERP data release by the ABS in June 2025 and validation of two new addresses since the Census date. With this level of population, Banksia has a density ratio of 3,868 persons per square kilometer, placing it within the top 10% of national locations assessed by AreaSearch. This high density makes land in the area a highly-sought resource. Banksia's growth rate since the 2021 Census exceeded both its SA4 region (6.5%) and the state level, marking it as a growth leader.

Overseas migration contributed approximately 88.0% of overall population gains during recent periods. AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, released in 2024 with 2022 as the base year. For areas not covered by this data, AreaSearch utilises NSW State Government's SA2 level projections, released in 2022 with 2021 as the base year. Growth rates by age group from these aggregations are applied to all areas for years 2032 to 2041. Based on aggregated SA2-level projections, Banksia is expected to grow by 764 persons to 2041, reflecting a total increase of 20.6% over the 16-year period.

Residential development activity is slightly higher than average within Banksia when compared nationally

AreaSearch analysis of ABS building approval numbers allocated from statistical area data shows Banksia has recorded around 7 residential properties granted approval per year. Over the past 5 financial years, between FY-21 and FY-25, approximately 36 homes were approved, with an additional 2 so far in FY-26. This results in an average of 7.6 new residents per year for every home built during this period.

Demand is significantly outpacing supply, which typically puts upward pressure on prices and increases competition among buyers. New properties are constructed at an average value of $410,000. Additionally, $5.5 million in commercial development approvals have been recorded this financial year, demonstrating the area's primarily residential nature. Relative to Greater Sydney, Banksia has significantly less development activity, 63.0% below regional average per person. This constrained new construction usually reinforces demand and pricing for existing dwellings, though development activity has picked up in recent periods. Compared nationally, development activity is also lower, reflecting market maturity and possible development constraints. New building activity shows 12.0% detached dwellings and 88.0% townhouses or apartments.

This trend toward denser development provides accessible entry options and appeals to downsizers, investors, and entry-level buyers. This marks a significant departure from existing housing patterns, currently 78.0% houses, suggesting diminishing developable land availability and responding to evolving lifestyle preferences and housing affordability needs. Banksia reflects a transitioning market with around 337 people per approval. Future projections show Banksia adding 764 residents by 2041 (from the latest AreaSearch quarterly estimate). Should current construction levels persist, housing supply could lag population growth, likely intensifying buyer competition and underpinning price growth.

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

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified 24 projects likely affecting the region. Notable projects include Fox Lane Rockdale, 588-592 Princes Highway Mixed-Use Development, 570 Princes Highway Co-Living Development, and Rockdale Community and Cultural Centre. 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 analysis of employment trends sees Banksia performing better than 90% of local markets assessed across Australia

Banksia has an educated workforce with strong professional services representation. Its unemployment rate is 1.3%. In the past year, there was a 5.2% employment growth, according to AreaSearch's statistical area data aggregation.

As of December 2025, 2,234 residents are employed, with an unemployment rate of 2.9%, lower than Greater Sydney's 4.2%. Workforce participation is 72.5%, compared to Greater Sydney's 68.8%. A high 38.8% of residents work from home, potentially influenced by Covid-19 lockdowns. Key industries include health care & social assistance, professional & technical services, and retail trade.

Transport, postal & warehousing shows notable concentration, with employment levels at 1.6 times the regional average. Conversely, manufacturing has lower representation at 4.1% versus the regional average of 5.7%. The area offers limited local employment opportunities, as indicated by Census data on working population versus resident population. Between December 2024 and December 2025, employment levels increased by 5.2%, labour force grew by 5.0%, reducing the unemployment rate by 0.2 percentage points. In Greater Sydney, employment grew by 2.2% over the same period, with a marginal rise in unemployment. Jobs and Skills Australia's national employment forecasts from May-25 suggest Banksia's employment should increase by 6.7% over five years and 13.6% over ten years, based on industry-specific projections applied to Banksia's employment mix.

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

The suburb of Banksia had an income level below the national average according to ATO data aggregated by AreaSearch for the financial year ended June 2023. The median income among taxpayers in Banksia was $47,942 and the average income stood at $60,651, compared to figures of $60,817 and $83,003 respectively for Greater Sydney. Based on Wage Price Index growth of 10.32% since June 2023, current estimates would be approximately $52,890 (median) and $66,910 (average) as of March 2026. According to the Census conducted in August 2021, household income ranked at the 66th percentile with a weekly income of $2,018, while personal income was at the 41st percentile. The largest segment comprised 30.9% earning between $1,500 and $2,999 weekly, with 1,147 residents falling into this bracket, mirroring regional levels where 30.9% occupied this bracket. High housing costs consumed 16.5% of income, but strong earnings still placed disposable income at the 65th percentile. The suburb's SEIFA income ranking placed it in the 6th decile.

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

The dwelling structure in Banksia, as per the latest Census evaluation, consisted of 77.8% houses and 22.2% other dwellings (semi-detached, apartments, 'other' dwellings). In comparison, Sydney metro had 55.9% houses and 44.1% other dwellings. Home ownership in Banksia stood at 39.1%, with the remaining dwellings either mortgaged (38.1%) or rented (22.8%). The median monthly mortgage repayment in Banksia was $2,500, surpassing Sydney metro's average of $2,427. Meanwhile, the median weekly rent figure in Banksia was $500, higher than Sydney metro's $470. Nationally, Banksia's mortgage repayments were significantly higher than the Australian average of $1,863, while rents were substantially above the national figure of $375.

Banksia features high concentrations of group households and family households, with a higher-than-average median household size

Family households constitute 77.5% of all households, including 37.3% couples with children, 25.2% couples without children, and 13.6% single parent families. Non-family households comprise the remaining 22.5%, with lone person households at 17.4% and group households at 4.7%. The median household size is 2.8 people, larger than the Greater Sydney average of 2.7.

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

Banksia Trail residents aged 15 and above have lower university degree holders compared to the SA3 area, at 30.4% versus 38.7%. Bachelor degrees are most common among these residents at 22.1%, followed by postgraduate qualifications at 7.1% and graduate diplomas at 1.2%. Vocational credentials are held by 28.1% of residents aged 15 and above, with advanced diplomas at 10.1% and certificates at 18.0%. Educational participation is high, with 28.9% of residents currently enrolled in formal education: 9.1% in primary, 6.9% in secondary, and 5.8% in tertiary education.

Educational participation is notably high, with 28.9% of residents currently enrolled in formal education. This includes 9.1% in primary education, 6.9% in secondary education, and 5.8% pursuing tertiary education.

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

Banksia has 16 active public transport stops offering a mix of train and bus services. These stops are served by 8 different routes, collectively facilitating 2011 weekly passenger trips. Transport accessibility is considered good, with residents typically located 229 meters from the nearest stop. As a predominantly residential area, most residents commute outward. Car remains the primary mode of transport at 75%, while train usage stands at 16%. The average vehicle ownership per dwelling is 1.2.

According to the 2021 Census, 38.8% of residents work from home, which may reflect COVID-19 conditions. Service frequency averages 287 trips per day across all routes, equating to approximately 125 weekly trips per individual stop.

Banksia's residents are extremely healthy with both young and old age cohorts seeing low prevalence of common health conditions

Analysis of health metrics shows strong performance throughout Banksia. AreaSearch's assessment found low prevalence of common health conditions across both young and old age cohorts.

The rate of private health cover was relatively low at approximately 51% of the total population (~1,892 people), compared to 59.9% across Greater Sydney. The most common medical conditions in the area were arthritis and asthma, impacting 6.3 and 6.1% of residents respectively. 74.3% of residents declared themselves completely clear of medical ailments, compared to 74.6% across Greater Sydney. Working-age residents showed notably healthy outcomes with low chronic condition prevalence. The area has 18.9% of residents aged 65 and over (701 people), higher than the 15.5% in Greater Sydney. Health outcomes among seniors are particularly strong, with national rankings broadly in line with the general population.

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

Banksia has a high level of cultural diversity, with 45.2% of its population born overseas and 52.4% speaking a language other than English at home. Christianity is the predominant religion in Banksia, comprising 55.7% of the population. Islam is overrepresented compared to Greater Sydney, making up 11.0% of Banksia's population versus 6.8%.

The top three ancestry groups are Other (16.8%), English (12.8%), and Australian (11.9%). Notably, Macedonian (9.5%), Lebanese (6.0%), and Greek (5.6%) ethnicities are overrepresented in Banksia compared to regional averages of 0.4%, 2.6%, and 1.9% respectively.

Banksia's median age exceeds the national pattern

Banksia has a median age of 40, which is slightly higher than Greater Sydney's figure of 37 and Australia's median age of 38. Compared to the Greater Sydney average, Banksia has a notably higher proportion of people aged 65-74 (9.8% locally) and a lower proportion of those aged 25-34 (13.9%). Between 2021 and present, the population aged 15-24 has increased from 10.8% to 12.7%, while the 45-54 age group has decreased from 14.2% to 13.0%. By 2041, demographic modeling projects significant changes in Banksia's age profile. The 45-54 cohort is expected to grow by 164 people (34%), increasing from 482 to 647 individuals. Notably, the combined population aged 65 and above will account for half of the total population growth, reflecting the area's aging demographic trend. The 0-4 age group is projected to have more modest growth, adding only 3 residents.