Neutral Bay

Neutral Bay is positioned among the lower quartile of areas assessed nationally for population growth based on AreaSearch's assessment of recent, and medium term trends

As of November 2025, the estimated population of Neutral Bay is around 10,704, reflecting a growth of 614 people since the 2021 Census. This increase represents a 6.1% change from the previous population count of 10,090. AreaSearch's analysis, based on ABS ERP data released in June 2024 and validated new addresses, indicates a resident population estimate of 10,680 for Neutral Bay. This results in a population density ratio of 8,428 persons per square kilometer, placing the suburb among the top 10% nationally according to AreaSearch's assessments. The suburb's growth rate exceeded that of its SA4 region at 5.4%, marking it as a growth leader. Overseas migration contributed approximately 88.0% of Neutral Bay's population gains during recent periods.

AreaSearch adopts ABS/Geoscience Australia projections for each SA2 area, released in 2024 with 2022 as the base year. For areas not covered by this data, AreaSearch uses NSW State Government's SA2 level projections from 2022 with a 2021 base year. Growth rates by age group are applied to all areas for years 2032 to 2041. Looking ahead, demographic trends suggest an overall population decline in Neutral Bay of 3 persons by 2041. However, specific age cohorts are projected to grow, notably the 85 and over age group, which is expected to expand by 335 people during this period.

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

Neutral Bay averaged approximately 15 new dwelling approvals per year over the past five financial years, from FY20 to FY24 inclusive. This totals an estimated 76 homes. As of FY25, 11 approvals have been recorded. The population has fallen during this period, suggesting that new supply has likely kept pace with demand, providing good choice for buyers.

The average expected construction cost value of new homes is $875,000, indicating developers are targeting the premium market segment with higher-end properties. In FY26, Neutral Bay has registered $69.2 million in commercial approvals, showing strong commercial development momentum. Compared to Greater Sydney, Neutral Bay has around two-thirds the rate of new dwelling approvals per person. Nationally, it ranks at the 28th percentile of areas assessed for new dwelling approvals, suggesting more limited choices for buyers and supporting demand for existing properties. This lower ranking reflects market maturity and possible development constraints.

Recent construction in Neutral Bay comprises approximately 6.0% detached houses and 94.0% townhouses or apartments, indicating a trend towards denser development that caters to downsizers, investors, and entry-level buyers. The location has about 605 people per dwelling approval, demonstrating an established market. With population expected to remain stable or decline, Neutral Bay may see reduced pressure on housing, potentially creating opportunities for buyers.

Neutral Bay 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 39 projects that may impact this region. Notable initiatives include Neutral Bay Town Centre Plaza, Woolworths Neutral Bay Mixed-Use Development, Wirra Neutral Bay, and XO Projects Mixed Use Development. The following list details those likely 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.

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

Neutral Bay has a highly educated workforce with significant representation in the technology sector. Its unemployment rate as of June 2025 was 5.4%, according to AreaSearch's aggregation of statistical area data.

In this month, 6,839 residents were employed while the unemployment rate was 1.2% higher than Greater Sydney's rate of 4.2%. Workforce participation in Neutral Bay was 71.9%, compared to Greater Sydney's 60.0%. The leading employment industries among residents included professional & technical, finance & insurance, and health care & social assistance. Neutral Bay showed particular strength in professional & technical services, with an employment share of 1.9 times the regional level.

However, construction had limited presence, with only 5.0% employment compared to the regional average of 8.6%. While local employment opportunities exist, many residents commute elsewhere for work based on Census working population data. Between June 2024 and June 2025, Neutral Bay's labour force decreased by 0.1%, while employment declined by 1.3%, leading to a rise in unemployment rate of 1.1 percentage points. In contrast, Greater Sydney recorded employment growth of 2.6% and labour force growth of 2.9%, with an increase in unemployment of only 0.3 percentage points during the same period. Jobs and Skills Australia's national employment forecasts from Sep-22 suggest that national employment will expand by 6.6% over five years and 13.7% over ten years. However, growth rates differ significantly between industry sectors. Applying these projections to Neutral Bay's employment mix indicates potential local employment increases of 7.6% over five years and 15.0% over ten years, although these are simple weighted extrapolations for illustrative purposes only and do not consider localized population projections.

The economic profile demonstrates exceptional strength, placing the area among the top 10% nationally based on comprehensive AreaSearch income analysis

Neutral Bay's median income among taxpayers in financial year 2022 was $79,490. The average income was $138,944. This places Neutral Bay in the top percentile nationally. In comparison, Greater Sydney had a median income of $56,994 and an average income of $80,856. Considering a 12.61% growth since financial year 2022 based on Wage Price Index data, estimated incomes for Neutral Bay as of September 2025 would be approximately $89,514 (median) and $156,465 (average). According to Census 2021 income data, Neutral Bay's household, family, and personal incomes rank highly nationally, between the 89th and 98th percentiles. Income distribution shows that 31.1% of locals (3,328 people) fall into the $1,500 - 2,999 income category, similar to regional levels where 30.9% occupy this bracket. Economic strength is evident with 42.4% of households earning high weekly incomes exceeding $3,000, supporting elevated consumer spending. High housing costs consume 18.0% of income, but strong earnings place disposable income at the 86th percentile nationally. Neutral Bay's SEIFA income ranking places it in the 10th decile.

Neutral Bay features a more urban dwelling mix with significant apartment living, with a higher proportion of rental properties than the broader region

Neutral Bay's dwelling structure, as per the latest Census, consisted of 8.3% houses and 91.8% other dwellings (semi-detached, apartments, 'other' dwellings). In comparison, Sydney metro had 17.9% houses and 82.1% other dwellings. Home ownership in Neutral Bay was at 24.8%, with mortgaged dwellings at 21.9% and rented ones at 53.3%. The median monthly mortgage repayment in Neutral Bay was $2,895, below Sydney metro's $3,085. The median weekly rent figure for Neutral Bay was $550, compared to Sydney metro's $582. Nationally, Neutral Bay's mortgage repayments were significantly higher than the Australian average of $1,863, while rents were substantially above the national figure of $375.

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

Family households account for 54.3% of all households, including 18.1% couples with children, 27.5% couples without children, and 7.4% single parent families. Non-family households constitute the remaining 45.7%, with lone person households at 39.7% and group households comprising 6.1%. The median household size is 2.0 people, which is smaller than the Greater Sydney average of 2.1.

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

Neutral Bay's educational attainment is notably higher than national averages. 61.2% of residents aged 15+ have university qualifications, compared to Australia's 30.4% and NSW's 32.2%. Bachelor degrees are the most common (39.7%), followed by postgraduate qualifications (17.4%) and graduate diplomas (4.1%). Vocational pathways account for 20.5%, with advanced diplomas at 11.6% and certificates at 8.9%.

24.7% of the population is actively pursuing education, including 7.4% in tertiary, 6.7% in primary, and 4.4% in secondary levels. Neutral Bay has three educational institutions serving 690 students: Cameragal Montessori School, Neutral Bay Campus, and Neutral Bay Public School. The area's ICSEA score is 1177, indicating high educational advantage nationally. Both local schools focus on primary education, with secondary options available nearby. Local school capacity is limited at 6.5 places per 100 residents compared to the regional average of 19.2, leading many families to travel for schooling.

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

Neutral Bay has 38 active public transport stops, serving a mix of ferry and bus routes. These stops are served by 69 individual routes, collectively providing 11,362 weekly passenger trips. Transport accessibility is rated excellent, with residents typically located 130 meters from the nearest stop.

Service frequency averages 1,623 trips per day across all routes, equating to approximately 299 weekly trips per individual stop.

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

Neutral Bay shows excellent health outcomes across all age groups, with a very low prevalence of common health conditions. Private health cover is exceptionally high at approximately 82%, compared to 86.4% in Greater Sydney and 55.3% nationally (as of the latest data). Mental health issues and asthma are the most common medical conditions, affecting 6.8% and 6.6% respectively.

A total of 76.3% of residents declare themselves completely clear of medical ailments, compared to 75.2% in Greater Sydney. Neutral Bay has 17.7% of residents aged 65 and over (1,894 people), lower than the 20.1% in Greater Sydney. Health outcomes among seniors are strong and broadly align with those of the general population.

Neutral 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

Neutral Bay had a higher cultural diversity than most local areas, with 22.0% speaking a language other than English at home as of 2016 Census data. Overseas-born population was 39.3%. Christianity dominated Neutral Bay's religious makeup at 43.2%, but Judaism was notably overrepresented at 1.1% compared to Greater Sydney's 1.0%.

For ancestry, the top groups were English (25.5%), Australian (17.5%), and Other (12.4%). French (1.2%) Spanish (0.9%) and Russian (0.7%) ethnicities showed notable divergences from regional percentages.

Neutral Bay's population aligns closely with national norms in age terms

The median age in Neutral Bay is 38 years, similar to Greater Sydney's average of 37 years and Australia's median of 38 years. Compared to Greater Sydney, Neutral Bay has a higher proportion of residents aged 25-34 (22.0%) but fewer residents aged 5-14 (7.4%). The concentration of residents aged 25-34 in Neutral Bay is significantly higher than the national average of 14.5%. According to the 2021 Census, the proportion of residents aged 15-24 has increased from 8.4% to 10.4%, while the proportion of those aged 35-44 has decreased from 18.1% to 17.2%. By 2041, Neutral Bay's age composition is expected to change significantly. The number of residents aged 85 and above is projected to grow by 104%, reaching 612 from 299. This growth will be led by the aging population dynamic, with those aged 65 and above comprising 88% of the projected growth. However, population declines are projected for the age groups 45-54 and 15-24.