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

Neutral Bay's population was estimated at around 10,790 as of February 2026. This reflected an increase of 700 people since the 2021 Census, which reported a population of 10,090. The change was inferred from AreaSearch's resident population estimate of 10,671 following examination of ABS's latest ERP data release in June 2024 and an additional 164 validated new addresses since the Census date. This level of population resulted in a density ratio of 8,496 persons per square kilometer, placing Neutral Bay in 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 was a growth leader. Overseas migration contributed approximately 88.0% of overall population gains during recent periods in Neutral Bay.

AreaSearch adopted ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022. For areas not covered by this data, AreaSearch utilised the NSW State Government's SA2 level projections released in 2022 with a base year of 2021. Growth rates by age group from these aggregations were applied to all areas for years 2032 to 2041. According to aggregated SA2-level projections, Neutral Bay is expected to increase by 12 persons to 2041, reflecting a decline of 1.5% in total over the 17-year 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 has seen approximately 15 new homes approved annually based on AreaSearch analysis of ABS building approval numbers. Around 79 homes were approved in the past five financial years, from FY21 to FY25, with 18 already approved in FY26. Despite population decline during this period, housing supply remained adequate relative to demand, resulting in a balanced market with good buyer choice.

The average expected construction cost value of new homes is $875,000, indicating developers target the premium market segment with higher-end properties. In FY26, Neutral Bay has recorded $33.1 million in commercial development approvals, demonstrating strong commercial development momentum. Compared to Greater Sydney, Neutral Bay has about three-quarters the rate of new dwelling approvals per person and ranks among the 30th percentile nationally for housing choices, suggesting more limited options for buyers and supporting demand for existing homes. However, building activity has accelerated in recent years, indicating potential planning limitations in the established area. Recent construction comprises 6.0% detached houses and 94.0% medium to high-density housing, creating affordable entry points suitable for downsizers, investors, and first-home buyers.

Neutral Bay shows a mature, established character with around 557 people per approval. With population projections indicating stability or decline, Neutral Bay should experience reduced housing demand pressures, benefiting potential buyers.

Neutral Bay has very high levels of nearby infrastructure activity, ranking in the top 10% 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. The technology sector is particularly well-represented. As of September 2025, the unemployment rate was 5.3%, based on AreaSearch's aggregation of statistical area data.

In terms of employment, 6,719 residents were in work while the unemployment rate was 1.2% higher than Greater Sydney's rate of 4.2%. Workforce participation was high at 75.3%, compared to Greater Sydney's 70.0%. According to Census responses, a significant proportion of residents worked from home, with 64.8% doing so. Employment is concentrated in professional & technical services, finance & insurance, and health care & social assistance sectors.

Neutral Bay has a strong specialization in professional & technical jobs, with an employment share nearly double the regional level at 1.9 times. Conversely, construction shows lower representation at 5.0%, compared to the regional average of 8.6%. Many residents commute elsewhere for work, suggesting local employment opportunities may not fully meet demand. In the 12-month period ending in September 2025, Neutral Bay's labour force increased by 0.5% while employment decreased by 0.5%, leading to a rise in unemployment of 1.0 percentage points. This contrasts with Greater Sydney, where employment grew by 2.1% and unemployment rose by only 0.2 percentage points during the same period. 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, though these are simple extrapolations for illustrative purposes and do not account for potential changes in local population size.

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

In Neutral Bay, NSW, based on AreaSearch's financial year 2023 postcode level ATO data, median income among taxpayers is $79,490, with an average of $138,944. Nationally, these figures are exceptionally high, compared to Greater Sydney's median of $60,817 and average of $83,003. By September 2025, estimated incomes would be approximately $86,533 (median) and $151,254 (average), accounting for Wage Price Index growth of 8.86%. According to the 2021 Census, Neutral Bay's household, family, and personal incomes rank highly nationally, between the 89th and 98th percentiles. Income analysis shows that 31.1% of residents earn between $1,500 - 2,999 weekly, consistent with broader regional trends at 30.9%. Notably, 42.4% of Neutral Bay residents earn above $3,000 per week, indicating strong economic capacity. Despite high housing costs consuming 18.0% of income, disposable income ranks 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, had 8.3% houses and 91.8% other dwellings (semi-detached, apartments, 'other' dwellings), contrasting with Sydney metro's 55.9% houses and 44.1% other dwellings. Home ownership in Neutral Bay stood at 24.8%, with mortgaged dwellings at 21.9% and rented ones at 53.3%. The median monthly mortgage repayment was $2,895, higher than Sydney metro's $2,427. Median weekly rent in Neutral Bay was $550, compared to Sydney metro's $470. Nationally, Neutral Bay's mortgage repayments were significantly higher at $1,863 and rents 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 constitute 54.3% of all households, consisting of 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+, 61.2% possess 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 the population is engaged in formal education. This includes 7.4% in tertiary education, 6.7% in primary education, and 4.4% pursuing 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 offering a mix of ferry and bus services. These are served by 69 routes, facilitating 13,625 weekly passenger trips in total. Transport accessibility is rated excellent, with residents typically located 130 meters from the nearest stop. Most residents commute outward due to its residential nature. Cars remain the dominant mode of transport at 57%, followed by bus at 16% and walking at 14%. Vehicle ownership averages 0.6 per dwelling, below the regional average.

According to the 2021 Census, 64.8% of residents work from home, which may reflect COVID-19 conditions. Service frequency across all routes averages 1,946 trips per day, 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 show excellent 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 82% of Neutral Bay's total population (8,802 people) have private health cover, compared to 59.9% in Greater Sydney and the national average of 55.7%.

Mental health issues affect 6.8% of residents, while asthma impacts 6.6%. A total of 76.3% of residents report being completely clear of medical ailments, compared to 74.6% in Greater Sydney. Neutral Bay has 18.8% of residents aged 65 and over (2,028 people), higher than the 15.4% in Greater Sydney. Health outcomes among seniors are generally strong, 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 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. Christianity was the predominant religion, comprising 43.2%. Judaism showed an overrepresentation of 1.1%, compared to Greater Sydney's 0.8%.

The top three ancestral groups were English (25.5%), Australian (17.5%), and Other (12.4%). French (1.2% vs regional 0.5%), Spanish (0.9% vs 0.6%), and Russian (0.7% vs 0.4%) were notably overrepresented.

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

The median age in Neutral Bay is 38 years, closely approximating Greater Sydney's average of 37 years and matching Australia's median of 38 years. Compared to Greater Sydney, Neutral Bay has a higher percentage of residents aged 25-34 (21.2%) but fewer residents aged 5-14 (7.3%). This concentration of 25-34 year-olds is significantly above the national average of 14.4%. Between the 2021 Census and present, the population aged 15 to 24 has increased from 8.4% to 10.5%, while those aged 75 to 84 have risen from 5.1% to 6.5%. Conversely, the percentage of residents aged 35 to 44 has decreased from 18.1% to 17.0%. By 2041, Neutral Bay's age composition is projected to shift notably. The population aged 85 and above is expected to grow by 84%, reaching 615 people from the current figure of 334. This growth will be led by an increase in those aged 65 and above, who are projected to comprise 86% of the demographic shift. Conversely, population declines are forecast for residents aged 45-54 and 15-24 years.