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

The population of Elizabeth Bay is estimated at around 5,366 as of May 2026. This reflects an increase of 488 people since the 2021 Census, which reported a population of 4,878 people. The current population was inferred from AreaSearch's estimate of 5,361 residents following examination of the latest ERP data release by the ABS in June 2025 and address validation since the Census date. This level of population equates to a density ratio of 21,464 persons per square kilometer, placing Elizabeth Bay in the top 10% of national locations assessed by AreaSearch. The suburb's 10.0% growth since the 2021 census exceeded both the state (7.1%) and Greater Sydney levels, marking it as a growth leader in the region. Overseas migration was primarily responsible for this population growth.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, released in 2024 with 2022 as the base year, for covered areas. For uncovers areas, NSW State Government's SA2 level projections released in 2022 with 2021 as the base year are used. Growth rates by age group from these aggregations are applied to all areas for years 2032 to 2041. Future population dynamics forecast a significant increase in Elizabeth Bay, with an expected expansion of 2,073 persons to 2041 based on aggregated SA2-level projections, reflecting a gain of 38.5% over the 16 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 has had around 5 new homes approved annually. Between FY-21 and FY-25, approximately 27 homes were approved, with another 10 approved in FY-26 so far. Despite population decline during this period, housing supply has remained adequate relative to demand, indicating a balanced market with good buyer choice.

The average expected construction cost value for new dwellings is $1,870,000, suggesting developers focus on the premium market. In FY-26, there have been $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 regional average per person), which typically strengthens demand and prices for existing properties. This level is also lower than the national average, potentially indicating market maturity or development constraints. Recent development in Elizabeth Bay has been entirely medium and high-density housing, appealing to downsizers, investors, and entry-level buyers. With around 5223 people per approval, it shows a mature, established area.

By 2041, AreaSearch estimates Elizabeth Bay's population will grow by 2,068 residents. If current construction levels persist, housing supply may lag behind population growth, intensifying buyer competition and potentially driving 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 has identified 26 projects that could affect this 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 the most relevant ones.

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.

Elizabeth Bay has seen below average employment performance when compared to national benchmarks

Elizabeth Bay has an educated workforce with notable representation in the technology sector. Its unemployment rate is 5.7%, according to AreaSearch's aggregation of statistical area data. As of December 2025, 3472 residents are employed while the unemployment rate is 1.5% higher than Greater Sydney's rate of 4.2%.

Workforce participation stands at 71.5%, slightly above Greater Sydney's 68.8%. Census responses indicate that 64.0% of residents work from home, though Covid-19 lockdown impacts are relevant. Employment is concentrated in professional & technical (with a share 2.0 times the regional level), finance & insurance, and health care & social assistance sectors. Construction employs only 3.0% of local workers, below Greater Sydney's 8.6%.

Many residents commute elsewhere for work based on Census data. Over the 12-month period ending December 2025, Elizabeth Bay's labour force decreased by 0.4%, employment declined by 1.2%, leading to a rise in unemployment rate of 0.9 percentage points. In contrast, Greater Sydney saw employment and labour force growth of 2.2% and 2.3% respectively, with marginal unemployment increase. 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 Elizabeth Bay's employment mix suggests local employment should increase by 7.5% over five years and 14.8% over ten years, though note this is a simplified 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 latest postcode level ATO data for financial year 2023 shows that income in Elizabeth Bay is exceptionally high nationally. The median assessed income is $80,877 while the average income stands at $149,951. This contrasts with Greater Sydney's figures of a median income of $60,817 and an average income of $83,003. Based on Wage Price Index growth of 10.32% since financial year 2023, current estimates would be approximately $89,224 (median) and $165,426 (average) as of March 2026. According to the 2021 Census figures, individual earnings rank at the 99th percentile nationally ($1,676 weekly), though household income ranks lower at the 73rd percentile. The earnings profile shows that 29.6% of locals (1,588 people) fall into the $1,500 - $2,999 category, reflecting patterns seen in the metropolitan region where 30.9% similarly occupy this range. A significant 35.9% earn above $3,000 weekly. High housing costs consume 19.1% of income, but strong earnings still 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, consisted of 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 stood 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, higher than Sydney metro's $470. Nationally, Elizabeth Bay's mortgage repayments were significantly higher than 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% that are couples with children, 25.9% that are couples without children, and 2.4% that are 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 Australian figures. Among residents aged 15+, 64.7% have university qualifications compared to the national average of 30.4%. In New South Wales (NSW), this figure stands at 32.2%. The area's educational advantage is evident in its distribution of qualifications: Bachelor degrees are most common at 40.4%, followed by postgraduate qualifications at 20.2% and graduate diplomas at 4.1%.

Vocational pathways account for 19.2% of qualifications among those aged 15+, with advanced diplomas making up 11.0% and certificates 8.2%. School attendance encompasses 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

Transport analysis shows ten active public transport stops in Elizabeth Bay, serving a mix of bus routes. These stops are covered by one route collectively offering 656 weekly passenger trips. Transport accessibility is rated excellent, with residents typically located 99 meters from the nearest stop. Most residents commute outward due to its residential nature. Car remains the dominant mode 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 remarkable 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. Approximately 86% of Elizabeth Bay's total population (4,608 people) have private health cover, which is significantly higher than Greater Sydney's 59.9%.

Nationally, the average is 55.7%. Mental health issues and asthma are the most common medical conditions in Elizabeth Bay, affecting 9.5% and 6.8% of residents respectively. Notably, 69.8% of residents declare themselves completely clear of medical ailments compared to Greater Sydney's 74.6%. Working-age residents exhibit low chronic condition prevalence. Elizabeth Bay has a higher proportion of seniors aged 65 and over at 21.6% (1,159 people) compared to Greater Sydney's 15.5%. Despite this, health outcomes among seniors in Elizabeth Bay are strong and align with national rankings for 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 population showed higher cultural diversity than most local markets, with 16.2% speaking a language other than English at home and 36.7% born overseas. Christianity was the predominant religion in Elizabeth Bay, comprising 34.3%. However, Judaism was significantly overrepresented at 2.9%, compared to Greater Sydney's average of 0.8%.

The top three ancestral groups were English (27.0%), Australian (15.5%), and Other (12.0%). Notably, French ancestry was overrepresented at 1.8% versus the regional average of 0.5%, Hungarian at 0.7% versus 0.3%, and Polish at 1.5% versus 0.6%.

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

The median age in Elizabeth Bay is 42 years, which is significantly higher than Greater Sydney's average of 37 years and Australia's national average of 38 years. The 25-34 age group makes up a strong 24.9% of the population in Elizabeth Bay, compared to Greater Sydney's percentage. However, the 5-14 age group is less prevalent at 1.7%. This concentration of the 25-34 age group is well above the national average of 14.6%. Post-2021 Census data shows that the 15 to 24 age group has grown from 4.4% to 6.5% of the population in Elizabeth Bay. Conversely, the 45 to 54 cohort has declined from 14.0% to 12.1%, and the 55 to 64 age group has dropped from 13.4% to 12.1%. Population forecasts for the year 2041 indicate substantial demographic changes for Elizabeth Bay, with the 25 to 34 age group expected to grow by 28%, reaching 1,706 people from its current figure of 1,336.