Belmont (Vic.)

Population growth drivers in Belmont are above average based on AreaSearch's ranking of recent, and medium to long-term trends

Belmont (Vic.) statistical area (Lv2) population estimated at 15,293 as of Nov 2025. This reflects an increase of 227 people since the 2021 Census, which reported a population of 15,066. The change is inferred from resident population of 15,088 estimated by AreaSearch following examination of latest ERP data release by ABS (June 2024) and additional 128 validated new addresses since the Census date. Population density ratio is 1,704 persons per square kilometer, above average seen across national locations assessed by AreaSearch. Overseas migration contributed approximately 74.0% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area released in 2024 with base year 2022. For areas not covered, AreaSearch utilises VIC State Government's Regional/LGA projections released in 2023 with adjustments made employing weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group applied across all areas for years 2032 to 2041. Population projection shows significant increase in top quartile of non-metropolitan areas nationally, with Belmont (Vic.) (SA2) expected to increase by 3,544 persons to 2041, reflecting a gain of 22.0% over the 17 years.

Residential development activity is lower than average in Belmont according to AreaSearch's national comparison of local real estate markets

Based on AreaSearch analysis of ABS building approval numbers, allocated from statistical area data, Belmont has averaged around 51 new dwelling approvals each year. Over the past 5 financial years, between FY-21 and FY-25, an estimated 258 homes were approved, with another 16 so far in FY-26. On average, over these years, 0.7 new residents arrived per new home built, indicating that new construction is matching or outpacing demand.

The average value of new dwellings being developed is $422,000, suggesting developers are targeting the premium market segment with higher-end properties. In FY-26, there have been $13.4 million in commercial approvals, showing moderate levels of commercial development. Compared to Rest of Vic., Belmont has significantly less development activity, at 68.0% below the regional average per person. This scarcity typically strengthens demand and prices for existing properties. New development consists of 33.0% detached dwellings and 67.0% townhouses or apartments, marking a significant shift from existing housing patterns (currently 78.0% houses). With around 547 people per dwelling approval, Belmont shows a developed market. Future projections estimate Belmont adding 3,361 residents by 2041.

Should current construction levels persist, housing supply could lag population growth, likely intensifying buyer competition and underpinning price growth.

Belmont 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 28 projects likely impacting the area. Key projects include Wandana Estate, Coles Belmont Redevelopment, 29 Evans Street Townhouses, and 5-7 Church Street Townhouses. 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.

The employment landscape in Belmont presents a mixed picture: unemployment remains low at 3.9%, yet recent job losses have affected its comparative national standing

Belmont has a well-educated workforce with significant representation in essential services sectors. Its unemployment rate is 3.9%, according to AreaSearch's aggregation of statistical area data.

As of September 2025, 8,068 residents are employed while the unemployment rate is 0.1% higher than Rest of Vic.'s rate of 3.8%. Workforce participation in Belmont is high at 63.0%, compared to Rest of Vic.'s 57.4%. The leading employment industries among residents include health care & social assistance, education & training, and construction.

Agriculture, forestry & fishing has limited presence with only 0.7% employment compared to the regional average of 7.5%. The predominantly residential area offers limited local employment opportunities as indicated by the count of Census working population versus resident population. Over a 12-month period ending in September 2025, Belmont's labour force decreased by 0.6% while employment also declined by 0.6%, maintaining a relatively stable unemployment rate. This contrasts with Rest of Vic., where employment contracted by 0.7%, the labour force fell by 0.6%, and unemployment rose marginally. State-level data as of 25-Nov-25 shows VIC employment grew by 1.13% year-on-year, adding 41,950 jobs, with a state unemployment rate of 4.7%. Jobs and Skills Australia's national employment forecasts from May-25 project overall employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Belmont's employment mix suggests local employment should increase by 6.9% over five years and 14.3% over ten years, though this is a simple extrapolation for illustrative purposes only and does not account for localized population projections.

Income levels sit below national averages according to AreaSearch assessment

The suburb of Belmont's income level aligns with national averages, per latest ATO data aggregated by AreaSearch for financial year 2023. Belmont's median income among taxpayers is $52,122 and average income stands at $67,413, compared to Rest of Vic.'s figures of $50,954 and $62,728 respectively. Based on Wage Price Index growth of 8.25% since financial year 2023, estimated incomes as of September 2025 would be approximately $56,422 (median) and $72,975 (average). According to 2021 Census figures, household, family and personal incomes in Belmont rank modestly, between the 36th and 49th percentiles. The earnings profile shows that 32.3% of residents (4,939 people) fall within the $1,500 - 2,999 income bracket, similar to metropolitan region patterns where 30.3% occupy this range. Housing affordability pressures are severe in Belmont, with only 83.5% of income remaining, ranking at the 36th percentile. The area's SEIFA income ranking places it in the 5th decile.

Belmont is characterized by a predominantly suburban housing profile, with a higher proportion of rental properties than the broader region

Belmont's dwelling structures, as per the latest Census, consisted of 78.0% houses and 22.0% other dwellings (semi-detached, apartments, 'other' dwellings). In comparison, Non-Metro Vic. had 84.6% houses and 15.4% other dwellings. Home ownership in Belmont was at 32.3%, with mortgaged dwellings at 31.8% and rented ones at 35.9%. The median monthly mortgage repayment in the area was $1,703, lower than Non-Metro Vic.'s average of $1,712. The median weekly rent figure in Belmont was recorded at $350, compared to Non-Metro Vic.'s $335. Nationally, Belmont's mortgage repayments were below the Australian average of $1,863, and rents were less than the national figure of $375.

Belmont features high concentrations of lone person households and group households, with a lower-than-average median household size

Family households constitute 60.5% of all households, including 25.0% couples with children, 23.8% couples without children, and 10.4% single parent families. Non-family households comprise the remaining 39.5%, with lone person households at 34.0% and group households accounting for 5.5%. The median household size is 2.3 people, smaller than the Rest of Vic. average of 2.4.

The educational profile of Belmont exceeds national averages, with above-average qualification levels and academic performance metrics

Belmont's educational attainment exceeds broader standards significantly. Among residents aged 15 and over, 34.0% possess university qualifications compared to 21.7% in the rest of Victoria and 27.3% in the SA3 area. This notable advantage positions Belmont favourably for knowledge-based opportunities. Bachelor degrees are most prevalent at 21.5%, followed by postgraduate qualifications (8.6%) and graduate diplomas (3.9%). Vocational credentials are also prominent, with 33.5% of residents aged 15 and over holding them – advanced diplomas account for 11.4% and certificates for 22.1%.

Educational participation is notably high in Belmont, with 28.6% of residents currently enrolled in formal education. This includes 8.7% in primary education, 6.9% in tertiary education, and 6.5% pursuing secondary education.

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

Belmont has 62 active public transport stops, all serving buses. These are covered by 22 different routes that together facilitate 2,201 weekly passenger trips. The transport system is deemed good, with residents on average being 236 meters from the nearest stop.

Daily service frequency averages 314 trips across all routes, translating to about 35 weekly trips per individual stop.

Health performance in Belmont is lower than average with common health conditions somewhat prevalent across both younger and older age cohorts

Belmont faces significant health challenges.

Common health conditions are somewhat prevalent among both younger and older age cohorts. The rate of private health cover is approximately 53%, covering about 8,180 people, which leads that of the average SA2 area. Mental health issues impact 10.8% of residents, while asthma affects 8.7%. About 66.3% of residents declare themselves completely clear of medical ailments, compared to 65.9% across Rest of Vic. The area has 16.8% of residents aged 65 and over, totaling 2,569 people. This figure is broadly in line with the general population's health profile.

In terms of cultural diversity, Belmont records figures broadly comparable to the national average, as found in AreaSearch's assessment of a number of language and cultural background related metrics

Belmont's cultural diversity is largely comparable to the broader regional average. Specifically, 87.0% of Belmont residents are citizens, 82.3% were born in Australia, and 88.5% speak English exclusively at home. Christianity is the predominant religion in Belmont, with 41.3% adherents.

Notably, Judaism's representation stands at 0.1%, slightly higher than the regional average of 0.1%. The top three ancestral groups are English (28.9%), Australian (25.8%), and Irish (10.8%). Some ethnicities show significant variation: Dutch residents comprise 1.9% in Belmont compared to 2.0% regionally, Scottish residents account for 9.0% versus the regional average of 8.3%, and Welsh residents make up 0.6% against a regional average of 0.5%.

Belmont's population is slightly younger than the national pattern

The median age in Belmont is 36 years, which is significantly lower than Rest of Vic.'s average of 43 years and somewhat younger than Australia's median age of 38 years. The 25-34 age group constitutes 21.1% of Belmont's population, higher than Rest of Vic.'s percentage but below the national average of 14.5%. The 65-74 cohort makes up 8.4% of Belmont's population, less prevalent compared to Rest of Vic. According to post-2021 Census data, Belmont has become younger with a median age drop from 37 years to 36 years. The 25-34 age group grew from 17.4% to 21.1%, while the 35-44 cohort increased from 13.1% to 14.8%. Conversely, the 45-54 cohort declined from 11.3% to 9.8%, and the 55-64 group decreased from 10.3% to 9.2%. By 2041, Belmont's age composition is expected to shift notably. The 25-34 age cohort is projected to grow by 1,608 people (50%) from 3,226 to 4,835. Conversely, population declines are projected for the 65-74 and 55-64 cohorts.