Banksia

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

Banksia's population, as of November 2025, is estimated at around 4,356 people. This reflects a growth of 1,079 people since the 2021 Census, which reported a population of 3,277 people. The increase is inferred from AreaSearch's estimate of 4,353 residents following examination of the ABS's latest ERP data release in June 2024 and an additional validated new address since the Census date. This results in a density ratio of approximately 4,537 persons per square kilometer, placing Banksia within the top 10% of national locations assessed by AreaSearch. The suburb's population growth rate of 32.9% since the 2021 census exceeded both the SA4 region (5.5%) and the state level. Overseas migration contributed approximately 88.0% of overall population gains during recent periods in Banksia.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered by this data, AreaSearch utilises the NSW State Government's SA2 level projections, released in 2022 with a base year of 2021. 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 965 persons to the year 2041, reflecting an increase of approximately 7.1% in total over the 17-year period.

AreaSearch assessment of residential approval activity sees Banksia among the top 30% of areas assessed nationwide

AreaSearch analysis of ABS building approval numbers in Banksia shows an average of around 17 residential properties granted approval per year. Over the past five financial years, from FY21 to FY25, approximately 88 homes were approved, with a further 5 approved so far in FY26.

This translates to an average of about 2.8 new residents per year for each dwelling over these five years, indicating strong demand which supports property values. The average construction cost value of new homes is $410,000, lower than regional levels, suggesting more affordable housing options for buyers in Banksia. Comparatively, Banksia maintains similar construction rates per capita to Greater Sydney, maintaining market balance with the broader area despite a recent acceleration in building activity. Recent construction comprises 9.0% standalone homes and 91.0% medium to high-density housing, reflecting a shift from the area's existing housing stock, which is currently 78.0% houses. This change indicates decreasing availability of developable sites and reflects evolving lifestyles and demand for diverse, affordable housing options.

Currently, there are approximately 89 people per dwelling approval in Banksia, suggesting an expanding market. Looking ahead, AreaSearch's latest quarterly estimate projects a growth of 309 residents in Banksia by 2041. At current development rates, new housing supply should comfortably meet demand, providing favourable conditions for buyers and potentially supporting population growth beyond current projections.

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 a total of 25 projects expected to affect the area. 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 likely to be 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 exceptional employment performance in Banksia places it among Australia's strongest labour markets

Banksia has an educated workforce with strong professional services representation. Its unemployment rate was 1.3% in the past year, with estimated employment growth of 3.2%.

As of June 2025, 2,087 residents are employed, with an unemployment rate of 2.9%, below Greater Sydney's 4.2%. Workforce participation is 57.9%, compared to Greater Sydney's 60.0%. Dominant sectors include health care & social assistance, professional & technical, and retail trade. Transport, postal & warehousing has a high employment share at 1.6 times the regional level.

Manufacturing is under-represented with 4.1% of Banksia's workforce compared to Greater Sydney's 5.7%. Limited local employment opportunities are indicated by Census data. Between June 2024 and June 2025, employment increased by 3.2% while labour force grew by 3.3%, keeping unemployment flat at 1.3%. In contrast, Greater Sydney had employment growth of 2.6% and a 0.3 percentage point rise in unemployment to 4.2%. Jobs and Skills Australia's Sep-22 national employment forecasts project a 6.6% increase over five years and 13.7% over ten years. Applying these projections to Banksia's employment mix suggests local growth of 6.7% over five years and 13.6% over ten years, based on simple weighting extrapolation for illustrative purposes.

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 ended June 2022 shows that median income in Banksia is $47,942 and average income is $60,651. This contrasts with Greater Sydney's median income of $56,994 and average income of $80,856. Based on Wage Price Index growth of 12.61% from July 2022 to September 2025, estimated median income in Banksia would be approximately $53,987 and average income would be around $68,299 by that date. Census data indicates household income ranks at the 66th percentile ($2,018 weekly) and personal income is at the 41st percentile. Income brackets show that 30.9% of locals (1,346 people) fall into the $1,500 - 2,999 category, which aligns with the metropolitan region. High housing costs consume 16.5% of income, but strong earnings place disposable income at the 65th percentile. The area's SEIFA income ranking places it in the 6th decile.

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

In Banksia, as per the latest Census evaluation, 77.8% of dwellings were houses, with the remaining 22.2% comprising semi-detached homes, apartments, and other dwelling types. This contrasts with Sydney metro's figures of 39.8% houses and 60.3% other dwellings. Home ownership in Banksia stood at 39.1%, with mortgaged dwellings at 38.1% and rented ones at 22.8%. The median monthly mortgage repayment in the area was $2,500, exceeding Sydney metro's average of $2,383. Weekly rent median was recorded at $500, compared to Sydney metro's $480. Nationally, Banksia's mortgage repayments were significantly higher than the Australian average of $1,863, and 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 compose 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 constitute the remaining 22.5%, with lone person households at 17.4% and group households comprising 4.7%. The median household size is 2.8 people, larger than the Greater Sydney average of 2.6.

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

Banksia Trail's educational qualifications lag behind regional benchmarks. 30.4% of residents aged 15 and above hold university degrees, compared to the SA3 area's 38.7%. University degree holders lead with 22.1%, followed by postgraduate qualifications at 7.1% and graduate diplomas at 1.2%. Vocational credentials are prominent, with 28.1% of residents aged 15 and above holding such qualifications - advanced diplomas account for 10.1% and certificates for 18.0%.

Educational participation is 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. Educational facilities seem to be located outside Banksia Trail's immediate catchment boundaries, requiring families to access schools in neighboring areas.

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

Banksia has nine active public transport stops, offering a mix of train and bus services. These stops are served by nine different routes, together facilitating 1,859 weekly passenger trips. Transport accessibility is deemed good, with residents located an average of 229 meters from the nearest stop.

Service frequency averages 265 trips per day across all routes, translating to roughly 206 weekly trips per individual stop.

The level of general health in Banksia is notably higher than the national average with both young and old age cohorts seeing low prevalence of common health conditions

Banksia demonstrates above-average health outcomes with both young and old age cohorts seeing low prevalence of common health conditions. The rate of private health cover was found to be relatively low at approximately 51% of the total population (~2,219 people), compared to 53.1% across Greater Sydney.

The most common medical conditions in the area were arthritis and asthma, impacting 6.3 and 6.1% of residents respectively, while 74.3% declared themselves completely clear of medical ailments, compared to 77.5% across Greater Sydney. The area has 19.3% of residents aged 65 and over (840 people), which is higher than the 16.4% in Greater Sydney. Health outcomes among seniors are particularly strong, performing even better than the general population in health metrics.

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's cultural diversity is notable, with 45.2% of its population born overseas and 52.4% speaking a language other than English at home. The predominant religion in Banksia is Christianity, practiced by 55.7% of the population. However, Islam is overrepresented compared to Greater Sydney, comprising 11.0% versus 10.3%.

In terms of ancestry, the top three groups are Other (16.8%), English (12.8%), and Australian (11.9%). Notably, Macedonian (9.5%) and Lebanese (6.0%) ethnicities are overrepresented in Banksia compared to regional averages of 3.8% and 5.2%, respectively. Greek ethnicity is underrepresented at 5.6%, compared to the regional average of 8.8%.

Banksia hosts an older demographic, ranking in the top quartile nationwide

Banksia's median age is 41 years, significantly higher than Greater Sydney's average of 37 and slightly above Australia's median of 38. Compared to Greater Sydney, Banksia has a notably higher proportion of residents aged 75-84 (7.1%) and a lower proportion aged 25-34 (14.0%). Post-2021 Census, the 15-24 age group increased from 10.8% to 12.1%, while the 45-54 cohort decreased from 14.2% to 13.3%. By 2041, demographic modeling projects significant changes in Banksia's age profile. The 75-84 cohort is projected to grow by 39%, adding 119 residents to reach 429. Residents aged 65 and older are expected to represent 65% of the population growth. Conversely, declines are projected for the 5-14 and 0-4 age cohorts.