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 Nov 2025, the estimated population of the Neutral Bay statistical area (Lv2) is around 10,734. This figure reflects an increase of 644 people since the 2021 Census, which reported a population of 10,090. The change was inferred from AreaSearch's estimate of 10,671 residents as of Jun 2024, based on examination of the latest ERP data release by the ABS, and an additional 81 validated new addresses since the Census date. This results in a population density ratio of 8,452 persons per square kilometer, placing Neutral Bay (SA2) within the top 10% of national locations assessed by AreaSearch. The growth rate of 6.4% since the 2021 Census exceeded that of both the SA3 area (5.4%) and the SA4 region, indicating Neutral Bay's position as a growth leader in the region. Overseas migration contributed approximately 88.0% of overall population gains during recent periods.

For demographic projections, 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, NSW State Government's SA2 level projections are used, released in 2022 with 2021 as the base year. Growth rates by age group from these aggregations are applied to all areas for years 2032 to 2041. According to these projections, the Neutral Bay (SA2) population is expected to decline by 7 persons by 2041. However, specific age cohorts are anticipated to grow, notably the 85 and over age group, which is projected to expand by 335 people.

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

Neutral Bay recorded approximately 15 residential properties approved annually over the past five financial years ending June 2021. This totals an estimated 79 homes. So far in FY-26, which began on July 1, 2021, and ends June 30, 2022, 18 approvals have been recorded. The average construction cost value of new properties is around $875,000.

Neutral Bay has seen commercial development approvals totaling $33.1 million in the current financial year. When compared to Greater Sydney, Neutral Bay records about three-quarters the building activity per person. Nationally, it places among the 30th percentile of areas assessed for residential development activity. New development consists of 6.0% detached houses and 94.0% townhouses or apartments. Neutral Bay has around 557 people per approval, indicating a mature, established area with stable or declining population expected in the future.

With population expected to remain stable or decline, Neutral Bay should see reduced pressure on housing, potentially creating opportunities for buyers.

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

Changes in local infrastructure significantly affect an area's performance. AreaSearch has identified 39 projects that could impact this region. Notable projects 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 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.

The employment landscape in Neutral Bay shows performance that lags behind national averages across key labour market indicators

Neutral Bay has a highly educated workforce with notable representation in the technology sector. As of September 2025, its unemployment rate was 5.4%, showing relative employment stability over the past year based on AreaSearch's statistical area data aggregation.

In September 2025, 6,735 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 at 71.9%, surpassing Greater Sydney's 60.0%. The key industries employing Neutral Bay residents are professional & technical, finance & insurance, and health care & social assistance. Neutral Bay specializes particularly in professional & technical employment, with a share of jobs that is 1.9 times the regional level.

Conversely, construction employs only 5.0% of local workers, lower than Greater Sydney's 8.6%. During the year to September 2025, Neutral Bay's labour force increased by 0.6%, while employment declined by 0.5%, leading to a rise in unemployment of 1.0 percentage points. In contrast, Greater Sydney saw employment grow by 2.1% and the labour force increase by 2.4%, with unemployment rising by only 0.2 percentage points. As of 25-November-25, NSW's employment had contracted by 0.03% (losing 2,260 jobs), with a state unemployment rate of 3.9%. This compares favourably to the national unemployment rate of 4.3%. 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 Neutral Bay's employment mix suggests local employment should increase by 7.6% over five years and 15.0% over ten years, based on a simple weighting extrapolation for illustrative purposes.

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

AreaSearch released postcode level ATO data for Neutral Bay in financial year 2023. The suburb's median income among taxpayers was $79,490 and the average was $138,944. Nationally, these figures are exceptionally high compared to Greater Sydney's median of $60,817 and average of $83,003. Based on Wage Price Index growth since financial year 2023, current estimates for Neutral Bay would be approximately $86,533 (median) and $151,254 (average) as of September 2025. According to Census 2021 income data, Neutral Bay's household, family, and personal incomes rank highly nationally, between the 89th and 98th percentiles. The earnings profile shows that 31.1% of residents (3,338 people) fall into the $1,500 - $2,999 weekly income bracket. This is similar to the surrounding region where 30.9% occupy this range. Neutral Bay demonstrates affluence with 42.4% earning over $3,000 per week, supporting premium retail and service offerings. High housing costs consume 18.0% of income, but strong earnings place disposable income at the 86th percentile nationally. The area'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). This compares to Sydney metro's figures of 17.9% houses and 82.1% other dwellings. Home ownership in Neutral Bay stood at 24.8%, with mortgaged dwellings at 21.9% and rented dwellings at 53.3%. The median monthly mortgage repayment was $2,895, below the Sydney metro average of $3,085. Median weekly rent in Neutral Bay was $550, compared to Sydney metro's $582. Nationally, Neutral Bay's mortgage repayments were higher at $1,863 and 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 make up the remaining 45.7%, with lone person households at 39.7% and group households comprising 6.1% of the total. 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 notably exceeds national and state averages. Among residents aged 15+, 61.2% hold university qualifications, compared to Australia's 30.4% and NSW's 32.2%. Bachelor degrees are the most prevalent (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%.

Currently, 24.7% of Neutral Bay's population is engaged in formal education, including 7.4% in tertiary, 6.7% in primary, and 4.4% in secondary education.

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

Neutral Bay has 53 active public transport stops. These are a mix of ferry and bus stops. They are served by 69 different routes.

Together, these provide 13,625 weekly passenger trips. Residents have excellent transport accessibility. On average, they live 130 meters from the nearest stop. Service frequency is high, with an average of 1,946 trips per day across all routes. This equates to approximately 257 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, with very low prevalence of common health conditions across all age groups. The private health cover rate stands at approximately 82% (8,756 people), compared to Greater Sydney's 84.7%. Nationally, this figure is 55.7%.

Mental health issues and asthma are the most prevalent conditions in Neutral Bay, affecting 6.8 and 6.6% of residents respectively. A total of 76.3% of residents report no medical ailments, compared to Greater Sydney's 75.2%. Neutral Bay has a lower proportion of seniors aged 65 and over at 17.7% (1,899 people), compared to Greater Sydney's 20.1%. Senior health outcomes align with the general population's profile in Neutral Bay.

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 and 39.3% born overseas as of the latest data. Christianity was the predominant religion in Neutral Bay, comprising 43.2% of its population. Judaism, however, showed an overrepresentation compared to Greater Sydney, making up 1.1% versus 1.0%.

The top three ancestry groups were English at 25.5%, Australian at 17.5%, and Other at 12.4%. Notably, French (1.2%), Spanish (0.9%), and Russian (0.7%) ethnicities had higher representations in Neutral Bay compared to regional averages.

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

The median age in Neutral Bay is close to Greater Sydney's average of 37 years at 38 years. This figure is also equivalent to Australia's median age. Compared to Greater Sydney, Neutral Bay has a higher concentration of residents aged 25-34 years (22.0%) but fewer residents aged 5-14 years (7.4%). The concentration of residents aged 25-34 in Neutral Bay is well above the national average of 14.5%. Between the 2021 Census and now, the population aged 15 to 24 has grown from 8.4% to 10.4%, while the population aged 35 to 44 has declined from 18.1% to 17.2%. By 2041, Neutral Bay is expected to experience significant shifts in its age composition. The group of residents aged 85 and above is projected to grow by 104%, reaching 612 people from the current 300. This growth will contribute significantly to the overall population increase, with those aged 65 and above comprising 87% of the projected growth. Conversely, population declines are projected for the groups aged 45-54 and 15-24 years.