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

As of Feb 2026, the estimated population of the suburb of Elizabeth Bay is around 5,302, reflecting an increase of 424 people since the 2021 Census. The population in 2021 was reported as 4,878. This growth is inferred from AreaSearch's estimation of the resident population at 5,301, based on their examination of the latest ERP data release by the ABS in June 2024 and address validation since the Census date. The population density ratio is 21,208 persons per square kilometer, placing Elizabeth Bay in the top 10% of national locations assessed by AreaSearch. This growth rate exceeds the state's 7.8%, marking Elizabeth Bay as a growth leader regionally. Overseas migration was the primary driver of this population increase.

AreaSearch adopts 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 for areas not covered by this data, released in 2022 with 2021 as the base year. Growth rates by age group are applied to all areas until 2041. By 2041, Elizabeth Bay is forecasted to increase its population significantly, gaining an additional 2,273 persons, reflecting a total growth of 42.9% 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 shows Elizabeth Bay had approximately 5 new homes approved annually. Between FY-21 and FY-25, around 27 homes were approved, with an additional 10 approved in FY-26. Despite a falling population, housing supply has been adequate relative to demand, indicating a balanced market with good buyer choice.

Developers focus on the premium market, with new dwellings averaging $1,870,000. In FY-26, there were $8.1 million in commercial approvals, reflecting Elizabeth Bay's primarily residential nature. Compared to Greater Sydney, Elizabeth Bay has significantly lower construction levels (81.0% below average per person), which typically strengthens demand and prices for existing properties. This level is also lower than the national average, suggesting market maturity and possible development constraints. Recent development has been entirely medium or high-density housing, appealing to downsizers, investors, and entry-level buyers. With around 5167 people per approval, Elizabeth Bay is a mature, established area.

By 2041, AreaSearch estimates the population will grow by 2,272 residents. If current construction levels persist, housing supply may lag behind population growth, intensifying buyer competition and supporting price growth.

Elizabeth Bay has very high levels of nearby infrastructure activity, ranking in the top 20% nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch identified 26 projects likely affecting the region. Notable ones are The Potts Point Hotel Redevelopment (Queensgate), Minerva Theatre Restoration, 45-53 Macleay Street Mixed-Use Development (The Chimes), and Opal Next Generation Ticketing System. Below is a list of those most relevant.

Professional plan users can use the search below to filter and access additional projects.

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Employment performance in Elizabeth Bay has been below expectations when compared to most other areas nationally

Elizabeth Bay has a highly educated workforce with notable representation in the technology sector. The unemployment rate is 5.7%, according to AreaSearch's aggregation of statistical area data. As of December 2025, there are 3,448 residents employed, with an unemployment rate of 1.5% above Greater Sydney's rate of 4.2%.

Workforce participation is similar to Greater Sydney's at 70.2%. Census responses indicate that 64.0% of residents work from home, although Covid-19 lockdown impacts should be considered. Employment among residents is concentrated in professional & technical, finance & insurance, and health care & social assistance sectors. The area shows strong specialization in professional & technical services with an employment share of 2.0 times the regional level.

Conversely, construction employs just 3.0% of local workers compared to Greater Sydney's 8.6%. Many residents commute elsewhere for work based on Census data comparing working population to local population. Over a 12-month period ending December 2025, labour force decreased by 0.5% and employment declined by 1.4%, leading to an unemployment rate increase of 0.9 percentage points in Elizabeth Bay. This contrasts with Greater Sydney where employment rose by 2.2%. Jobs and Skills Australia's national employment forecasts from May-25 project a 6.6% expansion over five years and 13.7% over ten years nationally. Applying these projections to Elizabeth Bay's employment mix suggests local employment should increase by 7.5% over five years and 14.8% over ten years, based on simple weighting extrapolation for illustrative purposes only.

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

AreaSearch's data for financial year 2023 shows median income in Elizabeth Bay was $80,877 and average income was $149,951. This compares to Greater Sydney's median of $60,817 and average of $83,003. By September 2025, estimates suggest median income will be approximately $88,043 and average income $163,237, based on an 8.86% Wage Price Index growth since financial year 2023. The 2021 Census records individual earnings at the 99th percentile nationally ($1,676 weekly) for Elizabeth Bay residents, with household income at the 73rd percentile. In terms of earnings profile, 29.6% (1,569 people) fall into the $1,500 - 2,999 category, similar to the metropolitan region's 30.9%. Notably, 35.9% earn above $3,000 weekly. Housing costs consume 19.1% of income, but strong earnings place disposable income at the 68th percentile. 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 a higher proportion of rental properties than the broader region

Elizabeth Bay's dwelling structure, as per the latest Census, had 0.3% houses and 99.7% other dwellings (semi-detached, apartments, 'other' dwellings), contrasting with Sydney metro's 55.9% houses and 44.1% other dwellings. Home ownership in Elizabeth Bay was at 22.7%, with mortgaged dwellings at 17.0% and rented ones at 60.4%. The median monthly mortgage repayment was $2,582, exceeding Sydney metro's average of $2,427. The median weekly rent in Elizabeth Bay was $500, compared to Sydney metro's $470. Nationally, Elizabeth Bay's mortgage repayments were higher at $2,582 versus Australia's 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, consisting of 4.9% couples with children, 25.9% couples without children, and 2.4% single parent families. Non-family households make up the remaining 66.4%, with lone person households at 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 2.7.

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 educational attainment than broader averages. Among residents aged 15 and above, 64.7% have university qualifications, compared to 30.4% nationally and 32.2% in NSW. This high level of achievement is led by bachelor degrees (40.4%), followed by 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 and university attendance makes up 17.2% of the community, including 8.2% in tertiary education, 2.2% in primary education, and 1.3% pursuing secondary education.

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

Elizabeth Bay has ten active public transport stops operating within its boundaries, all of which are bus stops. These stops are served by one route collectively, providing 656 weekly passenger trips. Transport accessibility is rated as excellent, with residents typically located 99 meters from the nearest stop. The area is primarily residential, with most residents commuting outward. Cars remain the dominant mode of transport at 35%, followed by walking at 28% and train at 21%. Vehicle ownership averages 0.2 per dwelling, below the regional average.

According to the 2021 Census, a high 64.0% of residents work from home, which may reflect COVID-19 conditions. Service frequency averages 93 trips per day across all routes, equating to approximately 65 weekly trips per individual stop.

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

Elizabeth Bay's health outcomes show excellent results based on AreaSearch's assessment of mortality rates and chronic condition prevalence. The area has a very low prevalence of common health conditions across all age groups. Private health cover is exceptionally high at approximately 86% of the total population (4,553 people), compared to 59.9% in Greater Sydney and a national average of 55.7%.

The most prevalent medical conditions are mental health issues affecting 9.5% of residents and asthma impacting 6.8%. Notably, 69.8% of residents declare themselves completely clear of medical ailments, compared to 74.6% in Greater Sydney. Working-age residents have low chronic condition prevalence. The area has 22.4% of residents aged 65 and over (1,187 people), higher than the 15.4% in Greater Sydney. Health outcomes among seniors are strong, with national rankings broadly in line with the general population.

The level of cultural diversity witnessed in Elizabeth Bay was found to be above average when compared nationally for a number of language and cultural background related metrics

Elizabeth Bay's cultural diversity was notable, with 16.2% speaking a language other than English at home as of 2016. Overseas-born residents comprised 36.7%. Christianity dominated religious affiliations at 34.3%, but Judaism was overrepresented at 2.9%, compared to Greater Sydney's 0.8%.

In terms of ancestry, the top groups were English (27.0%), Australian (15.5%), and Other (12.0%). French (1.8%) Hungarian (0.7%) and Polish (1.5%) ethnicities were notably higher than regional averages.

Elizabeth Bay hosts a notably older demographic compared to the national average

The median age in Elizabeth Bay is 43 years, notably higher than Greater Sydney's average of 37 and the national average of 38. The age profile shows that individuals aged 25-34 are particularly prominent, comprising 23.5% of the population, compared to the national average of 14.4%. Meanwhile, those aged 5-14 make up only 1.9%, which is smaller than the Greater Sydney proportion. Between 2021 and present, the 15-24 age group has grown from 4.4% to 6.1%, while the 75-84 cohort has increased from 6.1% to 7.5%. Conversely, the 45-54 age group has declined from 14.0% to 12.6%, and the 25-34 group has decreased slightly from 24.7% to 23.5%. Looking ahead to 2041, demographic projections indicate a significant increase in the 25-34 age cohort, with an expected rise of 387 people (31%) from 1,245 to 1,633.