Speers Point

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

Based on analysis of ABS population updates for the broader area, and new addresses validated by AreaSearch, Speers Point's population is estimated at around 3,940 as of Feb 2026. This reflects an increase of 540 people (15.9%) since the 2021 Census, which reported a population of 3,400 people. The change is inferred from the resident population of 3,729 estimated by AreaSearch following examination of the latest ERP data release by the ABS in June 2024 and an additional 111 validated new addresses since the Census date. This level of population equates to a density ratio of 1,287 persons per square kilometer, which is above the average seen across national locations assessed by AreaSearch. Speers Point's 15.9% growth since the 2021 census exceeded the SA3 area (4.1%) and the Rest of NSW, marking it as a growth leader in the region. Population growth for the suburb was primarily driven by interstate migration that contributed approximately 62.0% of overall population gains during recent periods, although all drivers including overseas migration and natural growth were positive factors.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, as released in 2024 with 2022 as the base year. For any SA2 areas not covered by this data, AreaSearch is utilising the NSW State Government's SA2 level projections, as released in 2022 with 2021 as the base year. Growth rates by age group from these aggregations are also applied to all areas for years 2032 to 2041. Moving forward with demographic trends, an above median population growth of regional areas across the nation is projected, with Speers Point expected to increase by 636 persons to 2041 based on aggregated SA2-level projections, reflecting a gain of 10.8% in total over the 17 years.

Recent residential development output has been above average within Speers Point when compared nationally

Speers Point has seen approximately 59 new homes approved annually based on AreaSearch analysis of ABS building approval numbers. Over the past five financial years, from FY21 to FY25, around 296 homes were approved, with an additional 28 approved so far in FY26. The average population growth per dwelling built over these years is 0.9 people annually.

This indicates that new construction is keeping pace with demand or exceeding it, offering buyers more options and potentially driving population growth beyond current expectations. The average expected construction cost value of new homes is $608,000, suggesting developers are targeting the premium market segment. In FY26, $47.3 million in commercial approvals have been registered, indicating robust local business investment. Compared to the Rest of NSW, Speers Point has 316.0% more building activity per person, providing buyers with ample choice, although construction activity has recently eased. This high level of activity reflects strong developer confidence in the area.

New development in Speers Point consists of 68.0% detached houses and 32.0% townhouses or apartments, offering a blend of housing types that caters to various price ranges, from spacious family homes to more affordable compact options. With around 126 people per dwelling approval, Speers Point exhibits characteristics of a growth area. According to the latest AreaSearch quarterly estimate, Speers Point is projected to add 425 residents by 2041. At current development rates, new housing supply should comfortably meet demand, creating favorable conditions for buyers and potentially supporting population growth beyond current projections.

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

Six projects identified by AreaSearch are expected to impact the area significantly. These include Speers Point Transport Improvements, Weemala at the Lake, Munibung Road Boolaroo Residential Precinct (Cockle Creek TOD), and McCloy Group Brush Creek Estate.

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The labour market in Speers Point demonstrates typical performance when compared to similar areas across Australia

Speers Point has a skilled workforce with prominent representation in essential services sectors. The unemployment rate was 3.0% in the past year, showing an estimated employment growth of 0.8%. As of December 2025, 1,878 residents were employed while the unemployment rate was 0.9% lower than Regional NSW's rate of 3.9%, and workforce participation was similar at 61.3%.

According to Census responses, 28.8% of residents worked from home, with Covid-19 lockdown impacts considered. The key industries for employment among residents were health care & social assistance, construction, and education & training, while agriculture, forestry & fishing showed lower representation at 0.4% compared to the regional average of 5.3%. The predominantly residential area appeared to offer limited local employment opportunities, as indicated by the count of Census working population versus resident population.

In the 12-month period ending December 2025, employment increased by 0.8% alongside a labour force increase of 1.7%, causing the unemployment rate to rise by 0.9 percentage points. This contrasted with Regional NSW, where employment fell by 1.2%, labour force contracted by 0.8%, and unemployment rose by 0.4 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 provided further insight into potential future demand within Speers Point. These projections, covering five and ten-year periods, suggested that national employment would expand by 6.6% over five years and 13.7% over ten years, with growth rates differing significantly between industry sectors. Applying these industry-specific projections to Speers Point's employment mix indicated that local employment should increase by 6.9% over five years and 14.3% over ten years, though it was noted that this was a simple weighting extrapolation for illustrative purposes and did not take into account localised population projections.

Income analysis reveals strong economic positioning, with the area outperforming 60% of locations assessed nationally by AreaSearch

AreaSearch's latest postcode level ATO data for financial year ending June 30, 2023 shows median income in Speers Point suburb is $57,768 and average income is $76,592. This contrasts with Regional NSW's median income of $52,390 and average income of $65,215 for the same period. Based on Wage Price Index growth of 8.86% between financial years 2022-23 and 2023-24, estimated incomes as of September 2025 would be approximately $62,886 (median) and $83,378 (average). According to the 2021 Census, household, family and personal incomes in Speers Point are around the 55th percentile nationally. The earnings profile indicates that 29.5% of individuals earn between $1,500 - $2,999, reflecting a similar pattern seen in the broader area where 29.9% fall within this range. High housing costs consume 15.6% of income, yet strong earnings place disposable income at the 52nd percentile nationally. The area's SEIFA income ranking places it in the 6th decile.

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

Speers Point's dwelling structures, as per the latest Census, consisted of 80.0% houses and 20.0% other dwellings (semi-detached, apartments, 'other' dwellings), compared to Regional NSW's 82.6% houses and 17.4% other dwellings. Home ownership in Speers Point was 39.8%, similar to Regional NSW, with mortgaged dwellings at 36.8% and rented dwellings at 23.4%. The median monthly mortgage repayment was $2,167, higher than the Regional NSW average of $1,733. The median weekly rent was $393, compared to Regional NSW's $330. Nationally, Speers Point's median monthly mortgage repayment exceeded the Australian average of $1,863, while its median weekly rent surpassed the national figure of $375.

Speers Point has a typical household mix, with a fairly typical median household size

Family households constitute 69.9% of all households, including 28.1% couples with children, 29.4% couples without children, and 11.9% single parent families. Non-family households account for the remaining 30.1%, with lone person households at 27.9% and group households comprising 2.2%. The median household size is 2.4 people, which aligns with the Regional NSW average.

Educational attainment in Speers Point aligns closely with national averages, showing typical qualification patterns and performance metrics

Speers Point trails regional benchmarks in educational qualifications, with 26.0% of residents aged 15+ holding university degrees compared to 32.2% in NSW. This gap suggests potential for educational development and skill enhancement. Bachelor degrees are the most common at 18.3%, followed by postgraduate qualifications (5.6%) and graduate diplomas (2.1%). Trade and technical skills are prominent, with 40.0% of residents aged 15+ holding vocational credentials – advanced diplomas at 12.6% and certificates at 27.4%.

Educational participation is notably high, with 26.4% of residents currently enrolled in formal education. This includes 9.0% in primary education, 7.1% in secondary education, and 4.7% pursuing tertiary education.

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

Speers Point has 30 active public transport stops, all of which are bus stops. These stops are served by 15 different routes that together offer 258 weekly passenger trips. The area's transport accessibility is rated as excellent, with residents typically located 173 meters from the nearest stop. Most residents commute outward due to its residential nature. Cars remain the primary mode of transport at 96%. On average, there are 1.5 vehicles per dwelling.

According to the 2021 Census, 28.8% of residents work from home, which may be influenced by COVID-19 conditions. The service frequency averages 36 trips per day across all routes, equating to approximately 8 weekly trips per individual stop.

Health performance in Speers Point is lower than average with common health conditions somewhat prevalent across both younger and older age cohorts

Speers Point faces significant health challenges based on AreaSearch's assessment. Mortality rates and chronic condition prevalence are high, with common health conditions prevalent across both younger and older age cohorts.

Private health cover is very high at approximately 57% of the total population (~2,252 people), compared to 51.9% across Regional NSW. The most common medical conditions are arthritis and mental health issues, impacting 10.6 and 9.9% of residents respectively. However, 62.4% of residents declare themselves completely clear of medical ailments, compared to 63.3% across Regional NSW. Working-age residents show above average prevalence of chronic health conditions. The area has 22.9% of residents aged 65 and over (902 people). Health outcomes among seniors present some challenges, with national rankings broadly in line with the general population.

Speers Point ranks below the Australian average when compared to other local markets across a number of language and cultural background related metrics

Speers Point, as per the census data from June 2016, had a lower cultural diversity with 87.6% of its population born in Australia and 93.1% being citizens. English was spoken at home by 93.3%. Christianity was the predominant religion, practiced by 55.7%, slightly below the Regional NSW average of 55.9%.

The top three ancestry groups were English (30.9%), Australian (28.9%), and Irish (9.6%). Notably, Welsh (0.9% vs regional 0.5%) and Scottish (8.9% vs regional 8.0%) populations were higher than the Regional NSW averages, while Russian was slightly overrepresented at 0.4%.

Speers Point hosts a notably older demographic compared to the national average

Speers Point's median age is 44 years, similar to Regional NSW's 43 years and above the national average of 38 years. Compared to Regional NSW, Speers Point has a higher percentage of residents aged 45-54 (13.1%) but fewer residents aged 25-34 (10.2%). Between the 2021 Census and present, the 25-34 age group has increased from 9.1% to 10.2%. Conversely, the 55-64 age group has decreased from 14.7% to 13.0%. By 2041, Speers Point's age composition is expected to change significantly. The 25-34 age group is projected to grow by 24%, reaching 499 people from the current 401. Meanwhile, the 55-64 and 15-24 age groups are expected to experience population declines.