Spence (ACT)

Spence has shown very soft population growth performance across periods assessed by AreaSearch

As of February 2026, the estimated population of the suburb of Spence (ACT) is around 2,521 people. This reflects a decrease from the 2021 Census figure of 2,587 people, indicating a drop of 66 individuals or approximately 2.6%. AreaSearch's estimation, based on examination of the latest ERP data release by the ABS in June 2024 and validation of two new addresses since the Census date, supports this population figure. This results in a population density ratio of 1,658 persons per square kilometer, which is above the average seen across national locations assessed by AreaSearch. Natural growth contributed approximately 59.0% of overall population gains during recent periods.

AreaSearch adopts ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered and years post-2032, age group growth rates from the ACT Government's SA2 area projections are used, also with a base year of 2022. According to these projections, over the period up to 2041, the suburb's population is expected to decline by 280 persons. However, specific age cohorts like those aged 85 and over are projected to grow, with an increase of 25 people anticipated in this group.

The level of residential development activity in Spence is very low in comparison to the average area assessed nationally by AreaSearch

Based on AreaSearch analysis of ABS building approval numbers allocated from statistical area data, Spence has averaged around 2 new dwelling approvals annually. Over the past five financial years, between FY-21 and FY-25, an estimated 11 homes were approved, with no approvals so far in FY-26.

The population decline over recent years suggests that new supply has likely kept up with demand, offering good choice to buyers. New properties are constructed at an average value of $209,000, under regional levels, indicating more accessible housing choices for buyers. Compared to the Australian Capital Territory, Spence shows substantially reduced construction, 85.0% below the regional average per person. This limited new supply generally supports stronger demand and values for established homes, which is also under the national average, suggesting the area's established nature and potential planning limitations. New development consists of 50.0% standalone homes and 50.0% medium and high-density housing, creating more affordable entry points and suiting downsizers, investors, and first-home buyers. This shows a considerable change from the current housing mix, which is currently 92.0% houses, reflecting reduced availability of development sites and addressing shifting lifestyle demands and affordability requirements. With around 1265 people per dwelling approval, Spence reflects a highly mature market.

Population projections showing stability or decline suggest that Spence should see reduced housing demand pressures, benefiting potential buyers.

Spence has moderate levels of nearby infrastructure activity, ranking in the 49thth percentile nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified one major project likely affecting this region: Ginninderry Stage 3 - The Valley Release. Other notable projects include Gold Creek Country Club Build-to-Rent (Gold Creek Golf Club Redevelopment) and New Northside Hospital (North Canberra Hospital Redevelopment).

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

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The employment landscape in Spence shows performance that lags behind national averages across key labour market indicators

Spence has an educated workforce with significant representation in essential services sectors. The unemployment rate was 4.8% in the past year, with estimated employment growth of 2.2%. As of September 2025, 1,319 residents were employed and the unemployment rate was 1.3% higher than the Australian Capital Territory's rate of 3.6%.

Workforce participation was lower at 67.7%, compared to the Australian Capital Territory's 72.5%. According to Census responses, only 12.8% of residents worked from home. The dominant employment sectors were public administration & safety, health care & social assistance, and education & training. Spence showed strong specialization in construction with an employment share of 1.6 times the regional level.

However, public administration & safety had lower representation at 25.6% compared to the regional average of 30.4%. The area appeared to offer limited local employment opportunities based on Census data. Between September 2024 and September 2025, employment increased by 2.2%, while labour force grew by 0.7%, reducing the unemployment rate by 1.4 percentage points. In comparison, Australian Capital Territory saw employment growth of 1.4% and a reduction in unemployment of 0.2 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 projected overall employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Spence's employment mix suggested local employment should increase by 6.5% over five years and 13.3% over ten years, though this was a simple weighting extrapolation for illustrative purposes.

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

Spence suburb's median income among taxpayers was $66,021 in financial year 2023. The average income stood at $74,628 during the same period. For Australian Capital Territory, these figures were $72,206 and $85,981 respectively. By September 2025, estimated median income would be approximately $72,135, and average income around $81,539, based on a 9.26% growth in Wage Price Index since financial year 2023. According to the 2021 Census, Spence's incomes rank highly nationally, between the 86th and 87th percentiles for household, family, and personal incomes. Income distribution shows that 32.6% of residents (821 people) earn within the $1,500 - 2,999 weekly bracket. Notably, 36.0% of Spence's population earns above $3,000 weekly. After housing costs, residents retain 87.2% of their income, reflecting strong purchasing power. The suburb's SEIFA income ranking places it in the 7th decile.

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

Dwelling structure in Spence, as per the latest Census, comprised 92.5% houses and 7.5% other dwellings. In comparison, Australian Capital Territory had 63.3% houses and 36.7% other dwellings. Home ownership in Spence was 33.2%, with mortgaged dwellings at 46.1% and rented ones at 20.7%. The median monthly mortgage repayment in the area was $2,120, higher than Australian Capital Territory's average of $2,080. Median weekly rent in Spence was $375, compared to Australian Capital Territory's $450. Nationally, Spence's mortgage repayments were significantly higher at $2,120 compared to the Australian average of $1,863, while rents were comparable at $375.

Spence has a typical household mix, with a higher-than-average median household size

Family households account for 75.6% of all households, including 35.6% couples with children, 27.2% couples without children, and 11.0% single parent families. Non-family households constitute the remaining 24.4%, with lone person households at 21.1% and group households comprising 2.8%. The median household size is 2.7 people, which is larger than the Australian Capital Territory average of 2.5 people.

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

The area's university qualification rate is 34.6%, significantly lower than the SA4 region average of 46.8%. Bachelor degrees are most common at 20.7%, followed by postgraduate qualifications (8.6%) and graduate diplomas (5.3%). Vocational credentials are held by 31.8% of residents aged 15+, with advanced diplomas at 11.6% and certificates at 20.2%. Educational participation is high, with 31.2% currently enrolled in formal education.

This includes 10.1% in primary education, 8.6% in secondary education, and 5.6% pursuing tertiary education.

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

Spence has 27 operational public transport stops, all serving buses. These stops are covered by 98 unique routes, facilitating a total of 7,199 weekly passenger trips. The area's transport accessibility is excellent, with residents typically residing within 150 meters of the nearest stop. Primarily residential, most Spence residents commute outward using cars as the dominant mode (90%), followed by buses at 6%. On average, there are 1.6 vehicles per dwelling, exceeding the regional norm. According to the 2021 Census, only 12.8% of residents work from home, which may be influenced by COVID-19 conditions.

Across all routes, service frequency averages 1,028 trips daily, equating to approximately 266 weekly trips per individual stop.

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

Spence faces significant health challenges based on AreaSearch's assessment. Mortality rates and chronic condition prevalence are high for common health conditions across both younger and older age cohorts.

Private health cover is very high at approximately 57% of the total population (~1,428 people), compared to 62.4% in the Australian Capital Territory. The most common medical conditions are mental health issues impacting 10.9% of residents and asthma affecting 9.4%. However, 63.0% of residents declare themselves completely clear of medical ailments, compared to 70.2% across the Australian Capital Territory. The working-age population faces notable health challenges with elevated chronic condition rates. The area has 17.9% of residents aged 65 and over (451 people), higher than the 14.3% in the Australian Capital Territory. Health outcomes among seniors present some challenges, with national rankings broadly in line with the general population.

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

Spence's cultural diversity was found to be below average, with 83.3% of its population born in Australia as of the last recorded date. This is accompanied by a citizenship percentage of 93.5%, and an English-only speaking population at home of 88.5%. Christianity emerged as the predominant religion in Spence, accounting for 47.5% of the population.

However, Buddhism stood out with an overrepresentation of 1.5%, compared to the Australian Capital Territory's average of 3.0%. In terms of ancestry, the top three represented groups were Australian at 28.5%, English at 26.7%, and Irish at 10.2% as of the recorded data. Notably, Welsh was overrepresented at 0.7% compared to the regional average of 0.6%, Polish at 0.9% versus 0.8%, and Spanish at 0.6% against a regional average of 0.5%.

Spence's population aligns closely with national norms in age terms

Spence's median age is 38 years, which is higher than the Australian Capital Territory average of 35 but equivalent to the Australian median of 38. Compared to the Australian Capital Territory, Spence has a higher proportion of residents aged 75-84 (7.7%) but fewer residents aged 25-34 (10.6%). Between the 2021 Census and the present day, the percentage of Spence's population aged 75 to 84 has increased from 5.1% to 7.7%, while the percentage of residents aged 15 to 24 has risen from 12.2% to 14.2%. Conversely, the proportion of residents aged 65 to 74 has declined from 11.6% to 8.7%, and the percentage of residents aged 5 to 14 has dropped from 14.0% to 11.7%. Demographic modeling indicates that Spence's age profile will change significantly by 2041. The 85+ cohort is projected to grow by 56%, adding 21 residents to reach a total of 59. Residents aged 65 and above will drive 83% of population growth, highlighting demographic aging trends. Meanwhile, the 45 to 54 and 75 to 84 age cohorts are expected to experience population declines.