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 Nov 2025, the estimated population of the Elizabeth Bay statistical area (Lv2) is around 5,302. This reflects an increase of 424 people since the 2021 Census, which reported a population of 4,878. The change was inferred from AreaSearch's resident population estimate of 5,301 following examination of ABS' latest ERP data release (June 2024) and an additional 27 validated new addresses since the Census date. This level of population equates to a density ratio of 21,208 persons per square kilometer, placing Elizabeth Bay in the top 10% nationally assessed by AreaSearch. The area's 8.7% growth since the 2021 census exceeded the state average of 7.6%. Population growth was primarily driven by overseas migration during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered, NSW State Government's SA2 level projections are used, 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. By 2041, the area is forecasted to increase its population by 2,231 persons, reflecting a gain of 41.1% 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

Based on AreaSearch analysis, ABS building approval numbers allocated from statistical area data show approximately five new homes approved annually in Elizabeth Bay. Over the past five financial years, from FY-21 to FY-25, around 28 homes were approved, with three more approved so far in FY-26. Despite population decline during this period, housing supply has remained adequate relative to demand, indicating a balanced market with good buyer choice.

New dwellings are developed at an average expected construction cost value of $1,870,000, suggesting developers focus on the premium market with high-end developments. This year, there have been $8.1 million in commercial approvals, reflecting the area's primarily residential nature. Compared to Greater Sydney, Elizabeth Bay has significantly reduced construction levels, at 80.0% below the regional average per person. This scarcity typically strengthens demand and prices for existing properties. Nationally, this level is lower, indicating market maturity and potential development constraints. Recent development consists entirely of medium and high-density housing, offering accessible entry options appealing to downsizers, investors, and entry-level buyers.

With around 5164 people per approval, Elizabeth Bay demonstrates a mature, established area. By 2041, AreaSearch's latest quarterly estimate projects Elizabeth Bay's population growth by 2,181 residents. If current construction levels persist, housing supply may lag population growth, potentially 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 that could affect the region. Notable initiatives include 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 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.

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. Its unemployment rate is 5.7%, according to AreaSearch's aggregation of statistical area data.

As of September 2025, 3439 residents are employed while the unemployment rate is 1.5% higher than Greater Sydney's rate of 4.2%. Workforce participation in Elizabeth Bay stands at 69.5%, exceeding Greater Sydney's 60.0%. Employment among residents is concentrated in professional & technical (with a share 2.0 times the regional level), finance & insurance, and health care & social assistance sectors. However, construction employs only 3.0% of local workers, lower than Greater Sydney's 8.6%.

Many residents commute elsewhere for work, as indicated by the count of Census working population to local population. In the 12-month period ending in September 2025, Elizabeth Bay's labour force decreased by 1.5%, with employment declining by 2.2%, leading to a rise in unemployment rate by 0.7 percentage points. This contrasts with Greater Sydney where employment rose by 2.1% and unemployment increased by only 0.2 percentage points. State-level data from NSW as of 25-Nov-25 shows employment contracted by 0.03%, with the state unemployment rate at 3.9%. National employment forecasts from Jobs and Skills Australia, published in May-25, project national 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, based on a simple weighting extrapolation for illustrative purposes.

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 8.86% since financial year 2023, current estimates would be approximately $88,043 for the median and $163,237 for the 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 earnings profile shows that 29.6% of locals (1,569 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 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). This contrasts with Sydney metro's figures of 2.3% houses and 97.7% other dwellings. Home ownership in Elizabeth Bay stood at 22.7%, while mortgaged dwellings accounted for 17.0% and rented ones for 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 $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 constitute 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 comprise the remaining 66.4%, with lone person households at 61.9% and group households at 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 educational attainment than national and state averages. Specifically, 64.7% of residents aged 15 years and above possess university qualifications, compared to Australia's 30.4% and New South Wales' (NSW) 32.2%. This high level of educational attainment is predominantly composed of Bachelor degrees (40.4%), followed by postgraduate qualifications (20.2%) and graduate diplomas (4.1%). Vocational pathways account for 19.2% of qualifications among those aged 15 years and above, with advanced diplomas at 11.0% and certificates at 8.2%.

School attendance in the area encompasses 17.2% of the community, including tertiary education (8.2%), primary education (2.2%), and secondary education (1.3%).

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. These stops are served exclusively by bus routes, offering a total of 656 weekly passenger trips collectively. The average distance from residents to the nearest transport stop is 99 meters, indicating excellent accessibility.

On average, buses depart every 1 hour and 30 minutes across all routes, resulting in approximately 65 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 younger and older age groups, with low prevalence of common health conditions. Approximately 86% of its total population (4,553 people) has private health cover, compared to Greater Sydney's 68.5%. Nationally, this figure stands at 55.7%.

Mental health issues and asthma are the most prevalent medical conditions in the area, affecting 9.5% and 6.8% of residents respectively. A total of 69.8% of residents report no medical ailments, compared to Greater Sydney's 77.4%. The area has a higher proportion of seniors aged 65 and over at 21.8% (1,155 people), compared to Greater Sydney's 9.7%. Health outcomes among seniors in Elizabeth Bay are particularly strong, outperforming the general population in health metrics.

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 had a higher cultural diversity than most local areas, with 16.2% speaking languages other than English at home and 36.7% born overseas. Christianity was the predominant religion, comprising 34.3%. Judaism was overrepresented at 2.9%, compared to Greater Sydney's 1.1%.

The top three ancestral groups were English (27.0%), Australian (15.5%), and Other (12.0%). Notably, French (1.8%) Hungarian (0.7%) and Polish (1.5%) ethnicities were overrepresented in Elizabeth Bay compared to regional averages of 1.1%, 0.4% and 0.9% respectively.

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

The median age in Elizabeth Bay is 43 years, which is higher than Greater Sydney's average of 37 and the national average of 38 years. The age profile shows that those aged 25-34 are prominent at 24.1%, while those aged 5-14 make up only 2.0% of the population, both figures differing from Greater Sydney's statistics. Nationally, the 25-34 age group comprises 14.5%. Between 2021 and present, the 15-24 age group has increased from 4.4% to 6.2%, while the 75-84 cohort has risen from 6.1% to 7.2%. Conversely, the 45-54 age group has decreased from 14.0% to 12.7%, and the 55-64 group has dropped from 13.4% to 12.3%. By 2041, demographic projections indicate a significant increase in the 85+ age cohort, with an expected growth of 394 people (173%), from 227 to 622 individuals.