Elizabeth Bay

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

Elizabeth Bay's population, as of November 2025, is estimated at around 5,298 people. This reflects an increase of 420 people since the 2021 Census, which reported a population of 4,878 people. The change is inferred from AreaSearch's estimation of the resident population at 5,314 following examination of the latest ERP data release by the ABS in June 2024 and an additional 27 validated new addresses since the Census date. This level of population results in a density ratio of 21,192 persons per square kilometer, placing Elizabeth Bay in the top 10% of national locations assessed by AreaSearch. The suburb's population growth of 8.6% since the 2021 census exceeded both the state (6.7%) and metropolitan area averages, making it a growth leader in the region. Overseas migration was the primary driver of this population increase.

AreaSearch is using ABS/Geoscience Australia projections for each SA2 area released in 2024 with 2022 as the base year, and NSW State Government's SA2 level projections released in 2022 with 2021 as the base year for areas not covered by this data. Growth rates by age group from these aggregations are applied to all areas for years 2032 to 2041. Future population dynamics anticipate a significant increase in the top quartile of statistical areas, with Elizabeth Bay expected to expand by 2,232 persons to 2041 based on aggregated SA2-level projections, reflecting a gain of 41.3% in total over the 17 years.

The level of residential development activity in Elizabeth Bay is very low in comparison to the average area assessed nationally by AreaSearch

AreaSearch analysis of ABS building approval numbers in Elizabeth Bay shows approximately two new homes approved annually. Between FY-21 and FY-25, around ten homes were approved, with four more approved so far in FY-26. Despite population decline, housing supply has remained adequate relative to demand, indicating a balanced market with good buyer choice.

The average expected construction cost of new dwellings is $1,870,000, suggesting developers focus on the premium market with high-end developments. This year, there have been $85,000 in commercial approvals, reflecting Elizabeth Bay's residential nature. Compared to Greater Sydney, Elizabeth Bay has significantly lower construction levels (93.0% below regional average per person), which typically strengthens demand and prices for existing properties. Recent building activity has intensified but remains below national averages, suggesting possible planning constraints. All recent development consists of attached dwellings, promoting higher-density living suitable for downsizers, investors, and first-home buyers. With approximately 2065 people per dwelling approval, Elizabeth Bay exhibits a highly mature market.

According to AreaSearch's latest quarterly estimate, the area is projected to add 2,186 residents by 2041. If current development rates persist, housing supply may not keep pace with population growth, potentially increasing buyer competition and supporting stronger price growth.

Elizabeth Bay 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 26 projects that could affect this region. Notable ones are The Potts Point Hotel Redevelopment (Queensgate), 45-53 Macleay Street Mixed-Use Development (The Chimes), Opal Next Generation Ticketing System, and Barncleuth Square, Elizabeth Bay. 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 Elizabeth Bay shows performance that lags behind national averages across key labour market indicators

Elizabeth Bay has a highly educated workforce. The technology sector is particularly well-represented.

As of June 2025, the unemployment rate was 5.4%. Employment stability in the area has been relatively consistent over the past year, according to AreaSearch's aggregation of statistical area data. In June 2025, 3,551 residents were employed, with an unemployment rate of 1.2% higher than Greater Sydney's rate of 4.2%. Workforce participation in Elizabeth Bay was 69.5%, compared to Greater Sydney's 60.0%.

Employment is concentrated in professional & technical (2.0 times the regional level), finance & insurance, and health care & social assistance sectors. However, only 3.0% of local workers are employed in construction, below Greater Sydney's 8.6%. Many residents commute elsewhere for work, based on the count of Census working population to local population. Over the 12 months to June 2025, labour force levels increased by 0.3%, while employment decreased by 0.3%, causing unemployment to rise by 0.6 percentage points in Elizabeth Bay. In contrast, Greater Sydney saw employment rise by 2.6% and the labour force grow by 2.9%. Jobs and Skills Australia's national employment forecasts from Sep-22 suggest that national employment will expand by 6.6% over five years and 14.8% over ten years. Applying these projections to Elizabeth Bay's employment mix indicates local employment should increase by 7.5% over five years and 14.8% over ten years, though this is a simple weighting extrapolation for illustrative purposes and does not account for localised population projections.

Income metrics indicate excellent economic conditions, with the area achieving higher performance than 75% of national locations assessed by AreaSearch

AreaSearch's latest postcode level ATO data for financial year 2022 shows that income in Elizabeth Bay is exceptionally high nationally. The median income is $80,877 while the average income stands at $149,951. This contrasts with Greater Sydney's figures of a median income of $56,994 and an average income of $80,856. Based on Wage Price Index growth of 12.61% since financial year 2022, current estimates would be approximately $91,076 (median) and $168,860 (average) as of September 2025. According to 2021 Census figures, individual earnings rank at the 99th percentile nationally ($1,676 weekly), though household income ranks lower at the 73rd percentile. The predominant earnings cohort spans 29.6% of locals (1,568 people) in the $1,500 - $2,999 category, reflecting metropolitan patterns where 30.9% similarly occupy this range. A significant 35.9% earn above $3,000 weekly. High housing costs consume 19.1% of income, yet strong earnings place disposable income at the 68th percentile and the area's SEIFA income ranking places it in the 10th decile.

Elizabeth Bay features a more urban dwelling mix with significant apartment living, with above-average rates of outright home ownership

Elizabeth Bay's dwelling structures, as per the latest Census, consisted of 0.3% houses and 99.7% other dwellings (semi-detached, apartments, 'other' dwellings), contrasting with Sydney metro's 2.3% houses and 97.7% other dwellings. Home ownership in Elizabeth Bay stood at 22.7%, with mortgaged dwellings at 17.0% and rented ones at 60.4%. The median monthly mortgage repayment was $2,582, lower than Sydney metro's average of $2,705. Median weekly rent in Elizabeth Bay was $500, compared to Sydney metro's $550. Nationally, Elizabeth Bay's mortgage repayments were higher at $2,582 versus the Australian average of $1,863, and rents were substantially above the national figure of $375.

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

Family households account for 33.6% of all households, including 4.9% couples with children, 25.9% couples without children, and 2.4% single parent families. Non-family households constitute the remaining 66.4%, with lone person households making up 61.9% and group households comprising 4.6%. The median household size is 1.5 people, which is smaller than the Greater Sydney average of 1.9.

Elizabeth Bay demonstrates exceptional educational outcomes, ranking among the top 5% of areas nationally based on AreaSearch's comprehensive analysis of qualification and performance metrics

Elizabeth Bay has a notably higher level of educational attainment than broader averages. 64.7% of residents aged 15 and above hold university qualifications, compared to Australia's 30.4% and NSW's 32.2%. This is largely due to bachelor degrees (40.4%), postgraduate qualifications (20.2%), and graduate diplomas (4.1%). Vocational pathways account for 19.2%, with advanced diplomas at 11.0% and certificates at 8.2%.

School attendance comprises 17.2% of the community, including tertiary education (8.2%), primary education (2.2%), and secondary education (1.3%). Educational facilities seem to be located outside Elizabeth Bay's immediate boundaries, requiring residents to access schools in neighboring areas for their educational needs.

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

The analysis of public transport in Elizabeth Bay shows six active transport stops currently operating, all offering bus services. These stops are served by a single route collectively transporting 857 passengers weekly. Transport accessibility is rated excellent with residents typically located within 100 meters of the nearest stop.

The service frequency averages 122 trips per day across all routes, equating to approximately 142 weekly trips per individual stop.

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

Elizabeth Bay shows superior health outcomes for both young and elderly cohorts, with low prevalence of common conditions. Approximately 86% of its total population (4,550 people) has private health cover, significantly higher than Greater Sydney's 69.7%. Nationally, the average is 55.3%.

Mental health issues affect 9.5% and asthma impacts 6.8% of residents, while 69.8% report no medical ailments, compared to 77.4% in Greater Sydney. The area has 21.7% (1,149 people) aged 65 and over, higher than Greater Sydney's 9.7%. Seniors' health outcomes are notably strong, outperforming the general population in health metrics.

Elizabeth Bay was found to be more culturally diverse than the vast majority of local markets in Australia, upon assessment of a range of language and cultural background related metrics

Elizabeth Bay's population showed higher cultural diversity than most nearby areas, with 16.2% speaking a language other than English at home and 36.7% born overseas. Christianity was the predominant religion in Elizabeth Bay, making up 34.3%. However, Judaism had notable overrepresentation at 2.9%, compared to Greater Sydney's 1.1%.

In terms of ancestry, the top three groups were English (27.0%), Australian (15.5%), and Other (12.0%). Some ethnic groups showed significant differences: French was higher at 1.8% in Elizabeth Bay versus 1.1% regionally, Hungarian at 0.7% versus 0.4%, and Polish at 1.5% versus 0.9%.

Elizabeth Bay hosts an older demographic, ranking in the top quartile nationwide

The median age in Elizabeth Bay is 43 years, which is higher than Greater Sydney's average of 37 and exceeds the national average of 38 years. The age profile shows that individuals aged 25-34 are particularly prominent at 24.1%, while those aged 5-14 make up only 2.0% of the population, which is smaller than in Greater Sydney. This concentration of 25-34 year-olds is significantly higher than the national average of 14.5%. Between 2021 and present, the proportion of individuals aged 15 to 24 has increased from 4.4% to 6.3%, while the 45 to 54 age group has declined from 14.0% to 12.7% and the 55 to 64 age group has dropped from 13.4% to 12.3%. Looking ahead to 2041, demographic projections indicate a significant increase in the number of individuals aged 85 and above, with this cohort expected to grow by 388 people (an increase of 170%) from 227 to 616.