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

The estimated population of Neutral Bay as of February 2026 is around 10,790. This figure reflects an increase of 700 people since the 2021 Census, which reported a population of 10,090. The change was inferred from AreaSearch's estimation of the resident population at 10,671 in June 2024, based on examination of the latest ERP data release by the ABS, and an additional 164 validated new addresses since the Census date. This results in a population density ratio of 8,496 persons per square kilometer, placing Neutral Bay among the top 10% of national locations assessed by AreaSearch. The suburb's growth rate of 6.9% since the 2021 census exceeded both its SA3 area (5.6%) and SA4 region, indicating it as a growth leader in the region. Overseas migration contributed approximately 88.0% of overall 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, 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 aggregated SA2-level projections, the suburb is expected to increase by 1 person to reach a population of 10,791 by 2041, reflecting an overall decline of 1.1% over the 17-year period.

AreaSearch assessment of residential development drivers sees a low level of activity in Neutral Bay, placing the area among the bottom 25% of areas assessed nationally

Neutral Bay has seen approximately 18 new homes approved annually based on AreaSearch analysis of ABS building approval numbers. Around 94 homes were approved between financial years FY21 to FY25, with an additional 19 approved in FY26 so far. Despite a population decline during this period, housing supply has remained adequate relative to demand, resulting in a balanced market with good buyer choice.

The average value of new homes being built is $875,000, indicating developers are targeting the premium market segment. In terms of commercial development, $33.1 million in approvals have been recorded this financial year, reflecting strong momentum. Compared to Greater Sydney, Neutral Bay has 14.0% less new development per person and ranks among the 40th percentile nationally, suggesting more limited housing choices for buyers but supporting demand for existing homes. Recent construction comprises 5.0% detached houses and 95.0% medium and high-density housing, creating affordable entry points for downsizers, investors, and first-home buyers. Neutral Bay indicates a mature market with around 423 people per approval.

With population projections showing stability or decline, housing demand pressures are expected to remain low, benefiting potential buyers in the area.

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 likely to impact the area. Notable ones 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 relevant.

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

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AreaSearch analysis indicates Neutral Bay maintains employment conditions that align with national benchmarks

Neutral Bay's workforce is highly educated with a notable presence in the technology sector. The unemployment rate was 4.6% as of an unspecified past year. Employment grew by an estimated 1.1% during this period.

As of December 2025, 6755 residents were employed with an unemployment rate of 4.6%, which is 0.4% higher than Greater Sydney's rate of 4.2%. Workforce participation was 75.2%, slightly higher than Greater Sydney's 70.2%. A significant 64.8% of residents worked from home, potentially influenced by Covid-19 lockdowns. Employment is concentrated in professional & technical (1.9 times the regional level), finance & insurance, and health care & social assistance sectors.

However, construction employment is lower at 5.0%, compared to the regional average of 8.6%. Many residents commute elsewhere for work. Over a 12-month period ending unspecified, employment increased by 1.1% alongside labour force growth of 1.1%, keeping unemployment broadly stable. In contrast, Greater Sydney saw employment grow by 2.2% and labour force expand by 2.3%. National employment forecasts from May-25 project a 6.6% increase 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, though this is a simple extrapolation for illustrative purposes and does not account for localised 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 was $79,490 in financial year 2023. The average income was $138,944. Nationally, these figures are exceptionally high compared to Greater Sydney's median of $60,817 and average of $83,030. By September 2025, estimated median income would be approximately $86,533 and average income $151,254 based on an 8.86% increase since financial year 2023. Neutral Bay's household, family, and personal incomes ranked highly nationally in 2021 Census figures, between the 89th and 98th percentiles. Income analysis revealed that 31.1% of individuals earned between $1,500 and $2,999 weekly, consistent with regional trends showing 30.9% in the same category. High earners made up 42.4%, indicating strong economic capacity. Housing costs consumed 18.0% of income, but disposable income remained at the 86th percentile nationally. Neutral Bay's SEIFA income ranking placed 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, had 8.3% houses and 91.8% other dwellings (semi-detached, apartments, 'other' dwellings). In comparison, Sydney metro had 55.9% houses and 44.1% other dwellings. Home ownership in Neutral Bay was 24.8%, with the rest either mortgaged (21.9%) or rented (53.3%). The median monthly mortgage repayment was $2,895, above Sydney metro's average of $2,427. Median weekly rent in Neutral Bay was $550, compared to Sydney metro's $470. 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 comprise 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 account for 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 2.7.

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. Among residents aged 15 and above, 61.2% have university qualifications, compared to 30.4% nationally and 32.2% in NSW. University graduates make up the majority at 39.7%, followed by postgraduates (17.4%) and graduate diplomas (4.1%). Vocational qualifications 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: 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 operational public transport stops offering a mix of ferry and bus services. These stops are served by 69 different routes, collectively facilitating 13,625 weekly passenger trips. Transport accessibility is rated excellent with residents located an average of 130 meters from the nearest stop. As primarily residential, most commutes are outward-bound: cars remain dominant at 57%, followed by bus at 16% and walking at 14%. Vehicle ownership averages 0.6 per dwelling, below the regional norm. According to the 2021 Census, 64.8% of residents work from home, potentially due to COVID-19 conditions.

Service frequency across all routes averages 1,946 trips daily, equating 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's health outcomes data shows excellent results, with AreaSearch finding very low prevalence of common health conditions across all age groups. The rate of private health cover is exceptionally high at approximately 82% of the total population (8,802 people), compared to Greater Sydney's 59.9%, and the national average of 55.7%. Mental health issues and asthma were found to be the most common medical conditions in the area, affecting 6.8% and 6.6% of residents respectively.

A total of 76.3% of residents declared themselves completely clear of medical ailments, compared to Greater Sydney's 74.6%. Neutral Bay has a higher percentage of residents aged 65 and over at 19.0% (2,050 people), compared to Greater Sydney's 15.4%. Health outcomes among seniors in the area are particularly strong, broadly aligning with national rankings for 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's population was found to be more culturally diverse than most local markets, with 22.0% speaking a language other than English at home and 39.3% born overseas. Christianity is the predominant religion in Neutral Bay, comprising 43.2% of its population. Judaism is notably overrepresented compared to Greater Sydney, making up 1.1% of Neutral Bay's population versus 0.8% regionally.

The top three ancestry groups are English (25.5%), Australian (17.5%), and Other (12.4%). Some ethnic groups show notable divergences: French is overrepresented at 1.2%, Spanish at 0.9%, and Russian at 0.7%.

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

The median age in Neutral Bay is 38 years, close to Greater Sydney's average of 37 and equivalent to Australia's median of 38. Compared to Greater Sydney, Neutral Bay has a higher proportion of residents aged 25-34 (21.1%), but fewer residents aged 5-14 (7.4%). This concentration of 25-34 year-olds is significantly higher than the national average of 14.4%. Between the 2021 Census and now, the proportion of residents aged 15 to 24 has grown from 8.4% to 10.6%, while those aged 75 to 84 increased from 5.1% to 6.6%. Conversely, the proportion of residents aged 35 to 44 has declined from 18.1% to 16.8%. By 2041, Neutral Bay's age composition is expected to shift notably. The 85+ group is projected to grow by 87%, reaching 625 people from 334. This growth is led by the aging population dynamic, with those aged 65 and above comprising 86% of the projected growth. Conversely, population declines are projected for residents aged 45-54 and 15-24 years old.