South Yarra

Population growth drivers in South Yarra are slightly above average based on AreaSearch's ranking of recent, and medium term trends

Based on analysis of ABS population updates for the broader area, as of Nov 2025, South Yarra's estimated population is around 29,495. This reflects an increase of 4,467 people since the 2021 Census, which reported a population of 25,028. The change is inferred from AreaSearch's estimate of 28,418 residents following examination of ABS's latest ERP data release (June 2024) and an additional 744 validated new addresses since the Census date. This level of population equates to a density ratio of 8,308 persons per square kilometer, placing South Yarra in the top 10% of national locations assessed by AreaSearch. The area's 17.8% growth since the 2021 census exceeded both national (9.7%) and state averages, marking it as a growth leader in the region. Overseas migration contributed approximately 93.0% of overall population gains during recent periods.

AreaSearch is adopting 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 utilises VIC State Government's Regional/LGA projections released in 2023, adjusted employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Examining future trends, South Yarra is forecasted to experience significant population increase, with an expected growth of 9,544 persons to 2041 based on aggregated SA2-level projections, reflecting a total increase of 28.8% over the 17 years.

AreaSearch assessment of residential development activity positions South Yarra among the top 25% of areas assessed nationwide

AreaSearch analysis of ABS building approval numbers indicates South Yarra has received approximately 397 dwelling approvals per year on average over the past five financial years. This totals an estimated 1,985 homes from FY-20 to FY-24. As of FY-26194 approvals have been recorded. The annual average population growth associated with these dwellings is zero people per dwelling built between FY-21 and FY-25.

This suggests supply has met or exceeded demand, offering more buyer choices while supporting potential population growth above projections. The average expected construction cost of new properties is $736,000, indicating a focus on the premium segment with upmarket properties. In FY-26, commercial development approvals totalled $72.1 million, reflecting high local commercial activity.

New building activity comprises 2.0% detached houses and 98.0% medium to high-density housing. This emphasis on higher-density living creates more affordable entry points for downsizers, investors, and first-home buyers. South Yarra has an average of around 62 people per approval, reflecting a developing area. According to AreaSearch's latest quarterly estimate, South Yarra is projected to gain 8,481 residents by 2041. If current development rates continue, housing supply may not keep pace with population growth, potentially increasing buyer competition and supporting stronger price growth.

South Yarra has very high levels of nearby infrastructure activity, ranking in the top 10% nationally

Area infrastructure performance is significantly influenced by local changes. AreaSearch identified 89 projects likely impacting the area. Notable ones are 671 Chapel Street, The Jam Factory, One Toorak Place (Orchard Piper Carters Avenue), and Holckner Family Senior Living and Community Precinct - St Kilda Road Stage 2. Below is a list of those most relevant.

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Employment conditions in South Yarra demonstrate strong performance, ranking among the top 35% of areas assessed nationally

South Yarra has a highly educated workforce with notable representation in the technology sector. Its unemployment rate is 3.6%, lower than Greater Melbourne's 4.7%.

Over the past year, employment grew by an estimated 4.5%. As of September 2025, 20,730 residents are employed, with an unemployment rate of 1.1% below Greater Melbourne's and a workforce participation rate of 72.9%, compared to Greater Melbourne's 64.1%. The leading employment industries among residents are professional & technical, health care & social assistance, and retail trade. South Yarra has a particular specialization in professional & technical services, with an employment share twice the regional level, while construction has limited presence at 4.9% compared to 9.7% regionally.

The ratio of workers per resident is 0.9, indicating substantial local employment opportunities. Between September 2024 and September 2025, employment increased by 4.5%, labour force grew by 4.9%, leading to a rise in unemployment rate by 0.4 percentage points. In contrast, Greater Melbourne recorded employment growth of 3.0% over the same period. State-level data from 25-Nov-25 shows Victoria's employment grew by 1.13% year-on-year, with an unemployment rate of 4.7%. Nationally, employment grew by 0.14%, and the unemployment rate was 4.3%. Jobs and Skills Australia forecasts national employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to South Yarra's employment mix suggests local employment should increase by 7.4% over five years and 14.8% over ten years, though this is a simple extrapolation for illustrative purposes.

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

AreaSearch released postcode level ATO data for financial year 2023 on September 14, 2023. In South Yarra, the median income among taxpayers was $70,666, with an average of $127,210. Nationally, this is exceptionally high compared to Greater Melbourne's median of $57,688 and average of $75,164. By September 2025, estimates based on Wage Price Index growth of 8.25% suggest the median income will be approximately $76,496 and the average will be around $137,705. According to the 2021 Census, individual earnings in South Yarra rank at the 96th percentile nationally ($1,395 weekly), while household income ranks at the 69th percentile. Distribution data shows that 33.5% of locals (9,880 people) earn between $1,500 and $2,999 weekly, similar to the surrounding region where 32.8% fall into this range. Economic strength is evident with 31.6% of households earning more than $3,000 weekly, supporting elevated consumer spending. High housing costs consume 17.1% of income, but strong earnings place disposable income at the 67th percentile nationally. The area's SEIFA income ranking places it in the 9th decile.

South Yarra features a more urban dwelling mix with significant apartment living, with a predominantly rental market

South Yarra's dwelling structure, as per the latest Census, consisted of 7.4% houses and 92.6% other dwellings. Home ownership in South Yarra stood at 18.3%, with 18.2% of dwellings mortgaged and 63.5% rented. The median monthly mortgage repayment was $2,100, and the median weekly rent was $415. Nationally, South Yarra's mortgage repayments were higher than the Australian average of $1,863, and rents were substantially above the national figure of $375.

South Yarra features high concentrations of lone person households and group households, with a median household size of 1.7 people

Family households constitute 42.3% of all households, including 8.9% couples with children, 27.2% couples without children, and 4.5% single parent families. Non-family households account for the remaining 57.7%, with lone person households at 49.3% and group households comprising 8.4%. The median household size is 1.7 people.

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

South Yarra's educational attainment is notably higher than national averages. Among residents aged 15+, 64.3% have university qualifications, compared to Australia's 30.4% and Victoria's 33.4%. Bachelor degrees are the most common at 40.8%, followed by postgraduate qualifications (19.0%) and graduate diplomas (4.5%). Vocational pathways account for 16.9%, with advanced diplomas at 9.4% and certificates at 7.5%.

Educational participation is high, with 25.9% of residents currently enrolled in formal education. This includes 12.9% in tertiary education, 3.6% in primary education, and 3.4% pursuing secondary education.

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

South Yarra has 78 active public transport stops. These include train, light rail, and bus services. There are 13 individual routes operating in total.

Each week, these routes facilitate 11,389 passenger trips. Residents have excellent access to transport, with an average distance of 147 meters to the nearest stop. Daily service frequency averages 1,627 trips across all routes, resulting in about 146 weekly trips per individual stop.

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

South Yarra shows excellent health outcomes, with very low prevalence of common health conditions across all ages. Private health cover is high at approximately 77% of the total population of 22,649 people, compared to the national average of 55.7%.

Mental health issues and asthma are the most common medical conditions in South Yarra, affecting 9.6 and 8.1% of residents respectively. A significant majority, 74.0%, report being completely free of medical ailments, contrasting with 0% across Greater Melbourne. As of 2021, 11.6% of South Yarra's population is aged 65 and over (3,421 people). Health outcomes among seniors align closely with the general population's health profile in the area.

South Yarra 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

South Yarra has a high level of cultural diversity, with 26.3% of its population speaking a language other than English at home and 40.3% born overseas. Christianity is the main religion in South Yarra, comprising 33.4% of people. Judaism is overrepresented in South Yarra at 2.2%, compared to none across Greater Melbourne.

The top three ancestry groups are English (23.6%), Australian (15.5%), and Other (12.2%). Notably, French (1.1%) Russian (0.8%), and Polish (1.2%) ethnicities are overrepresented in South Yarra compared to the regional average of none for each group.

South Yarra's young demographic places it in the bottom 15% of areas nationwide

South Yarra's median age is 32 years, which is younger than Greater Melbourne's average of 37 and lower than Australia's national average of 38 years. Compared to Greater Melbourne, South Yarra has a higher proportion of residents aged 25-34 (35.5%) but fewer residents aged 5-14 (3.7%). This concentration of 25-34 year-olds is significantly higher than the national average of 14.5%. Post-2021 Census data indicates that the 15 to 24 age group has increased from 11.7% to 13.2%, while the 25 to 34 cohort has risen from 34.1% to 35.5%. Conversely, the 45 to 54 age group has decreased from 9.8% to 8.4%. Demographic modeling projects significant changes in South Yarra's age profile by 2041. The 25 to 34 cohort is expected to grow strongly at a rate of 22%, adding 2,319 residents to reach a total of 12,790.