Surrey Hills

Surrey Hills is positioned among the lower quartile of areas assessed nationally for population growth based on AreaSearch's assessment of recent, and medium term trends

The population of the Surrey Hills statistical area (Lv2) is estimated at approximately 13,829 as of November 2025. This figure represents an increase of 174 people since the 2021 Census, which reported a population of 13,655. The change is inferred from AreaSearch's estimation of the resident population at 13,792 in June 2024, based on examination of the latest ERP data release by the ABS, and an additional 93 validated new addresses since the Census date. This results in a population density ratio of 3,121 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. Overseas migration was the primary driver of population growth in the area during recent periods.

AreaSearch is adopting 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 utilises the VIC State Government's Regional/LGA projections released in 2023, making adjustments using 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. Based on aggregated SA2-level projections, the Surrey Hills (SA2) is expected to experience a population increase just below the median of statistical areas across the nation by 2041. The area is projected to expand by 754 persons over this period, reflecting an overall increase of approximately 7.4%.

Residential development activity is lower than average in Surrey Hills according to AreaSearch's national comparison of local real estate markets

AreaSearch analysis of ABS building approval numbers allocated from statistical area data indicates Surrey Hills has experienced approximately 49 dwelling approvals annually. Between FY21 and FY25, around 245 homes were approved, with an additional 12 approved in FY26 to date. Despite population decline in recent years, development activity has been relatively adequate, favouring buyers.

The average expected construction cost of new properties is $1,620,000, reflecting a focus on the premium segment. This financial year has seen $11.3 million in commercial approvals, indicating steady commercial investment activity.

New developments consist of 55% detached houses and 45% attached dwellings, offering choices across price ranges. With around 356 people per dwelling approval, Surrey Hills demonstrates a developed market. AreaSearch's latest quarterly estimate projects an increase of 1,023 residents by 2041. Current construction levels are expected to meet demand adequately, creating favourable conditions for buyers and potentially enabling growth exceeding current forecasts.

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

Twenty-eight projects have been identified by AreaSearch as potentially impacting the area's performance. These include Tunstall Village, 359-365 Canterbury Road Retail Development, 426-430 Canterbury Road Development, and 560-566 Whitehorse Road Development. The following list details those projects likely to be most relevant.

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

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Surrey Hills ranks among the top 25% of areas assessed nationally for overall employment performance

Surrey Hills has a highly educated workforce with professional services being strongly represented. The unemployment rate was 2.5% in the past year, with an estimated employment growth of 2.6%.

As of September 2025, 8,252 residents were employed, while the unemployment rate was 2.2% lower than Greater Melbourne's rate of 4.7%. Workforce participation was fairly standard at 66.3%, compared to Greater Melbourne's 64.1%. The key industries of employment among residents are professional & technical, health care & social assistance, and education & training. Surrey Hills has a particular specialization in professional & technical employment, with an employment share 1.6 times the regional level.

However, construction has limited presence, with only 5.8% employment compared to the regional average of 9.7%. The area appears to offer limited local employment opportunities, as indicated by the count of Census working population versus resident population. Between September 2024 and September 2025, employment increased by 2.6%, while labour force increased by 2.4%, resulting in a fall in unemployment by 0.2 percentage points. In comparison, Greater Melbourne saw employment grow by 3.0% and the labour force expand by 3.3%, with unemployment rising by 0.3 percentage points. State-level data from 25-Nov shows VIC employment grew by 1.13% year-on-year, adding 41,950 jobs, with the state unemployment rate at 4.7%. National employment forecasts from May-25 suggest national employment will expand by 6.6% over five years and 13.7% over ten years. Applying these projections to Surrey Hills's employment mix suggests local employment should increase by 7.3% over five years and 14.8% over ten years, though 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 Surrey Hills had a median taxpayer income of $63,722 and an average income of $116,893 in the latest postcode level ATO data aggregated by AreaSearch for the financial year 2023. This places it among the top percentile nationally, contrasting with Greater Melbourne's median income of $57,688 and average income of $75,164. Based on Wage Price Index growth of 8.25% from financial year 2023 to September 2025, current estimates would be approximately $68,979 (median) and $126,537 (average). According to the 2021 Census, household, family, and personal incomes in Surrey Hills rank highly nationally, between the 85th and 90th percentiles. Distribution data shows that 32.8% of residents earn over $4,000 per week, which is higher than the surrounding region where the dominant income bracket is $1,500 - $2,999 at 32.8%. This affluence supports premium retail and service offerings in the locality. Housing accounts for 13.8% of income, with strong earnings placing residents within the 91st percentile for disposable income. The area's SEIFA income ranking places it in the 10th decile.

Surrey Hills displays a diverse mix of dwelling types, with strong rates of outright home ownership

The dwelling structure in Surrey Hills, as evaluated at the latest Census, consisted of 67.0% houses and 33.0% other dwellings including semi-detached properties, apartments, and 'other' dwellings. The home ownership level was 42.7%, with 35.3% of dwellings mortgaged and 22.0% rented. The median monthly mortgage repayment in the area was $3,000, while the median weekly rent figure was recorded at $462. Nationally, Surrey Hills' mortgage repayments were significantly higher than the Australian average of $1,863, as reported in 2021, while rents were substantially above the national figure of $375, also as per the 2021 data.

Surrey Hills has a typical household mix, with a median household size of 2.6 people

Family households constitute 74.0% of all households, including 38.9% couples with children, 25.6% couples without children, and 8.5% single parent families. Non-family households make up the remaining 26.0%, with lone person households at 23.2% and group households comprising 2.7%. The median household size is 2.6 people.

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

Surrey Hills' educational attainment exceeds national benchmarks significantly. Among residents aged 15+, 55.9% hold university qualifications, compared to Australia's 30.4% and Victoria's 33.4%. Bachelor degrees are the most common at 33.7%, followed by postgraduate qualifications (16.3%) and graduate diplomas (5.9%). Vocational pathways account for 17.4%, with advanced diplomas at 9.6% and certificates at 7.8%.

Educational participation is high, with 32.2% currently enrolled in formal education. This includes 10.3% in secondary, 8.7% in tertiary, and 8.6% pursuing primary education.

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

The transport analysis indicates that Surrey Hills has 52 operational transport stops, offering a combination of train, light rail, and bus services. These stops are served by 13 distinct routes, collectively facilitating 6,053 weekly passenger trips. The accessibility to these services is rated as good, with residents on average being located approximately 244 meters from the nearest stop.

Across all routes, service frequency averages at 864 trips per day, which translates to roughly 116 weekly trips per individual stop.

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

Surrey Hills shows excellent health outcomes, with a very low prevalence of common health conditions across all age groups. Private health cover is exceptionally high at approximately 73% of the total population (10,063 people), compared to the national average of 55.7%.

The most prevalent medical conditions are asthma and mental health issues, affecting 7.1% and 6.9% of residents respectively. A significant majority, 73.2%, report being completely free from medical ailments, compared to 0% in Greater Melbourne. As of the latest data (2021), 20.4% of Surrey Hills' population is aged 65 and over (2,821 people). Health outcomes among seniors align closely with those of the general population.

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

Surrey Hills has a higher cultural diversity than most local areas, with 27.5% of its population born overseas and 20.9% speaking a language other than English at home. Christianity is the predominant religion in Surrey Hills, making up 45.5% of the population. However, Judaism is significantly overrepresented compared to Greater Melbourne figures, comprising 0.3%.

The top three ancestry groups are English (25.4%), Australian (20.5%), and Chinese (10.5%). Notably, Hungarian (0.4%), Welsh (0.7%), and Sri Lankan (0.5%) ethnicities are overrepresented in Surrey Hills compared to regional figures.

Surrey Hills's median age exceeds the national pattern

The median age in Surrey Hills is 42 years, which is significantly higher than Greater Melbourne's average of 37 years and Australia's average of 38 years. The 15-24 age group makes up 16.6% of the population in Surrey Hills, compared to Greater Melbourne. However, the 25-34 age cohort is less prevalent at 9.2%. According to post-2021 Census data, the 15-24 age group has increased from 14.5% to 16.6%, while the 75-84 age group has grown from 5.3% to 7.0%. Conversely, the 45-54 age cohort has declined from 15.7% to 14.7%. Population forecasts for 2041 indicate substantial demographic changes in Surrey Hills. The 75-84 age group is expected to grow by 50%, reaching 1,453 people from 968. Notably, the combined 65+ age groups will account for 77% of total population growth, reflecting the area's aging demographic profile. In contrast, the 0-4 and 35-44 age cohorts are expected to experience population declines.