Ocean Reef

An assessment of population growth drivers in Ocean Reef reveals an overall ranking slightly below national averages considering recent, and medium term trends

According to evaluations of ABS demographic revisions for the surrounding region, alongside new addresses validated by AreaSearch since the Census, the suburb of Ocean Reef has an estimated population of 9,002 as of May 2026. This represents a rise of 877 people (10.8%) relative to the 2021 Census, which documented a population of 8,125 people. This shift is calculated from a resident population of 8,985, which AreaSearch estimated using the most recent ABS ERP statistics (June 2025) and an extra 22 validated new addresses since the Census date. Such a population size translates to a density of 1,711 persons per square kilometer, exceeding the average across domestic areas analyzed by AreaSearch. The 10.8% expansion in the suburb of Ocean Reef since the 2021 census outperformed the national average (9.3%), positioning it as a regional growth leader. Population increases in the area were mostly driven by incoming overseas migration, which made up roughly 85.0% of the overall population rise in recent times.

AreaSearch incorporates projections from the ABS and Geoscience Australia for every SA2 region, which were published in 2024 using 2022 as the baseline. For any SA2 regions lacking this coverage, and to calculate growth across all localities past the year 2032, AreaSearch applies the growth rates by age bracket supplied by the ABS in its most recent Greater Capital Region projections (published in 2023, utilizing 2022 data). Looking at upcoming demographic shifts, a population growth rate exceeding the median of Australian statistical areas is anticipated for the suburb of Ocean Reef, with the area projected to expand by 1,098 persons to 2041 using combined SA2-level forecasts, representing an overall increase of 12.0% across the 16 years.

AreaSearch analysis of residential development drivers sees Ocean Reef recording a relatively average level of approval activity when compared to local markets analysed countrywide

According to AreaSearch's evaluation of ABS building permit statistics allocated from statistical area records, Ocean Reef has averaged approximately 14 residential property approvals annually, matching an estimated 72 homes over the last 5 financial years. Thus far in FY-26, 8 approvals have been registered. With an average of 9.7 new residents per year for every home built over the past 5 financial years (between FY-21 and FY-25), demand is outstripping supply by a wide margin, which generally pushes prices higher and intensifies rivalry among buyers, while new homes are being built at an average value of $823,000, indicating that developers are targeting the premium market with high-end developments. Furthermore, $10.9 million in commercial approvals have been registered this financial year, suggesting balanced commercial development activity.

Relative to Greater Perth, Ocean Reef exhibits roughly half the building activity per capita, placing it in the 21st percentile of localities assessed across the country, which implies rather restricted options for buyers while bolstering demand for existing housing. This volume is also below average nationally, indicating the area's maturity and hinting at potential planning limitations. Additionally, recent construction has consisted entirely of standalone homes, preserving the area's suburban identity with a concentration of family homes suited to buyers seeking space. At around 773 people per approval, Ocean Reef shows a mature, established area.

Demographic projections indicate Ocean Reef will add 1,081 residents through to 2041 (from the latest AreaSearch quarterly estimate). If current building rates continue, housing supply may trail population expansion, which would likely heighten buyer rivalry and support price growth.

Ocean Reef has moderate levels of nearby infrastructure activity, ranking in the top 50% nationally

Few elements impact local market performance as significantly as updates to community infrastructure, major developments, and urban planning schemes. AreaSearch has identified a total of 10 initiatives that are likely to influence this locality. Prominent projects include the Ocean Reef Primary School Expansion, the Ocean Reef Marina Redevelopment, the Ocean Reef Marina Redevelopment, and the 82 Marina Boulevard Commercial Development, with the subsequent list outlining the items of greatest significance.

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The exceptional employment performance in Ocean Reef places it among Australia's strongest labour markets

Ocean Reef possesses a highly educated workforce, with strong representation in essential service industries, an unemployment rate of only 2.2%, and an estimated job growth rate of 3.3% over the prior year, according to AreaSearch's compilation of statistical area records. As of March 2026, 5,220 residents are employed, and the unemployment rate is 2.0% lower than the Greater Perth rate of 4.2%, while labor force participation is broad-ranging and comparable to Greater Perth's 70.2%. Based on Census responses, a low 11.6% of residents were found to work from home, though Covid-19 lockdown impacts should be considered.

The leading employment industries for residents are health care & social assistance, construction, and education & training. The area exhibits a particularly high concentration in construction, where employment rates are 1.4 times the regional average. Conversely, transport, postal & warehousing is underrepresented, employing only 3.0% of the Ocean Reef workforce compared to 4.7% in Greater Perth. The mostly residential locality appears to offer limited employment opportunities locally, as indicated by the count of Census working population vs resident population.

Based on AreaSearch analysis of SALM and ABS data, aggregated from broader statistical areas, over the 12 months to March 2026, employment increased by 3.3% while labour force increased by 3.9%, causing the unemployment rate to rise by 0.5 percentage points. This compares to Greater Perth, where employment grew by 2.0%, labour force expanded by 2.5%, and unemployment rose 0.4 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 can offer further insight into potential future demand within Ocean Reef. These projections, covering five and ten-year periods, have been mapped against the local employment profile to estimate growth patterns. While national employment is forecast to expand by 6.6% over five years and 13.7% over ten years, growth rates differ significantly between industry sectors. Applying these industry-specific projections to Ocean Reef's employment mix suggests local employment should increase by 6.4% over five years and 13.4% over ten years (please note this is a simple weighting extrapolation for illustrative purposes and does not take into account localised population projections).

Income metrics indicate excellent economic conditions, with the area achieving higher performance than 75% of national locations assessed by AreaSearch

The suburb of Ocean Reef's income level is very high nationally according to the latest ATO data aggregated by AreaSearch for financial year 2023. The suburb of Ocean Reef's median income among taxpayers is $58,121 and the average income stands at $74,792, which compares to figures for Greater Perth's of $60,748 and $80,248 respectively. Based on Wage Price Index growth of 10.93% since financial year 2023, current estimates would be approximately $64,474 (median) and $82,967 (average) as of March 2026. According to 2021 Census figures, household incomes rank exceptionally at the 90th percentile ($2,480 weekly). Income analysis reveals the $1,500 - 2,999 earnings band captures 28.7% of the community (2,583 individuals), aligning with the surrounding region where this cohort likewise represents 32.0%. Higher earners represent a substantial presence with 40.9% exceeding $3,000 weekly, indicating strong purchasing power within the community. After housing costs, residents retain 87.8% of income, reflecting strong purchasing power and the area's SEIFA income ranking places it in the 8th decile.

Ocean Reef is characterized by a predominantly suburban housing profile, with above-average rates of outright home ownership

Dwelling structure within Ocean Reef, as evaluated at the latest Census, comprised 95.9% houses and 4.2% other dwellings (semi-detached, apartments, 'other' dwellings), in comparison to Perth metro's 77.8% houses and 22.1% other dwellings. Meanwhile, the level of home ownership within Ocean Reef was well beyond that of Perth metro, at 42.1%, with the remainder of dwellings either mortgaged (45.7%) or rented (12.2%). The median monthly mortgage repayment in the area was well above the Perth metro average at $2,253, while the median weekly rent figure was recorded at $525, compared to Perth metro's $1,907 and $350. Nationally, Ocean Reef's mortgage repayments are significantly higher than the Australian average of $1,863, while rents are substantially above the national figure of $375.

Ocean Reef features high concentrations of family households, with a higher-than-average median household size

Homes occupied by families represent the vast majority at 85.9% of all households, consisting of couples with children at 45.1%, childless couples at 31.8%, and single parents at 8.5%. Non-family living arrangements account for the remaining 14.1%, which includes single-person households at 12.4% and group shared homes at 1.8%. The median household size of 2.9 people is larger than the Greater Perth average of 2.6.

Ocean Reef shows strong educational performance, ranking in the upper quartile nationally when assessed across multiple qualification and achievement indicators

Higher education qualifications are held by 28.9% of residents aged 15+ in Ocean Reef. Bachelor degrees constitute the largest share at 20.5%, followed by postgraduate degrees (5.7%) and graduate diplomas (2.7%). Practical and technical capabilities are widely distributed, with 38.0% of the population aged 15+ holding a vocational qualification, consisting of advanced diplomas (13.1%) and certificates (24.9%).

School and university enrollment is exceptionally strong, with 29.7% of the local population currently engaged in study. Within this group, secondary schooling accounts for 10.2%, primary education makes up 9.4%, and tertiary studies comprise 5.3%.

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

Public transport analysis reveals 46 active transport stops operating within Ocean Reef comprising a mix of buses. These stops are serviced by 4 individual routes, collectively providing 738 weekly passenger trips. Transport accessibility is rated as good, with residents typically located 227 meters from the nearest transport stop. As a primarily residential area, most residents commute outward - car remains the dominant mode at 81%, with 13% by train. Vehicle ownership averages 2.0 per dwelling, above the regional average. A relatively low 11.6% of residents work from home (2021 Census; may reflect COVID-19 conditions).

Vehicular frequencies average 105 daily trips across all designated routes, translating to roughly 16 weekly services per individual stop.

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

Data on medical wellness reveals exceptional patterns across Ocean Reef, derived from AreaSearch's evaluation of mortality indices and the incidence of chronic ailments, which shows a very low rate of common medical conditions in every age bracket, while private health insurance coverage is highly prevalent at approximately 57% of the entire population (~5,121 people). This compares to 59.0% across Greater Perth.

The most frequent medical diagnoses in this locality were arthritis and mental health challenges, affecting 7.8 and 6.4% of the population, respectively, while 72.9% of individuals reported having no medical issues at all, compared to 71.9% throughout Greater Perth. Citizens of working age demonstrate excellent health, with a low prevalence of long-term diseases. Seniors aged 65 and older represent 20.6% of the population (1,854 people), exceeding the 16.1% average for Greater Perth. Health profiles among this older demographic are particularly robust, matching the favorable national standings observed in the broader population.

The level of cultural diversity witnessed in Ocean Reef was found to be above average when compared nationally for a number of language and cultural background related metrics

Ocean Reef displays higher cultural diversity than the vast majority of local markets, with 10.8% of residents speaking a language other than English in their homes and 44.9% of the population born abroad. The leading religious affiliation is Christianity, which is practiced by 52.9% of the local population. However, the most disproportionately represented group is Judaism, comprising 0.1% of the population, compared to 0.3% across Greater Perth.

Looking at ancestral origins, the three most common backgrounds reported in Ocean Reef are English at 34.6% of the population, which is considerably higher than the regional average of 28.0%, Australian at 19.1% of the population, and Irish at 9.1% of the population. Furthermore, there are distinct differences in the concentration of other heritages: South Australian is notably overrepresented at 2.3% in Ocean Reef (compared to 1.0% across the region), Welsh at 1.1% (compared to 0.7% regionally), and French at 0.9% (compared to 0.5% regionally).

Ocean Reef hosts a notably older demographic compared to the national average

With a median age of 44, the suburb of Ocean Reef is notably exceeding the Greater Perth figure of 37 and is substantially exceeding the national norm of 38. The 55 - 64 age group shows strong representation at 15.3% compared to Greater Perth, whereas the 25 - 34 cohort is less prevalent at 6.8%. Following the 2021 Census, the 75 to 84 age group has grown from 4.4% to 6.5% of the population, while the 15 to 24 cohort increased from 13.7% to 15.0%. Conversely, the 45 to 54 cohort has declined from 16.0% to 13.9%. Demographic modeling suggests Ocean Reef's age profile will evolve significantly by 2041. Leading the demographic shift, the 75 to 84 group will grow by 80% (470 people), reaching 1,056 from 585. The aging population dynamic is clear, with those 65+ comprising 66% of projected growth. Meanwhile, the 0 to 4 and 5 to 14 cohorts are expected to experience population declines.