Southbank - East
Statistical Area - sa2

Southbank - East lies within the top 10% of areas nationally in terms of population growth performance according to AreaSearch analysis of short and medium-term trends

Southbank - East's population was around 21,436 as of November 2025. This showed an increase of 5,335 people, a 33.1% rise since the 2021 Census which reported a population of 16,101. The change was inferred from ABS's estimated resident population of 19,428 in June 2024 and an additional 1,114 validated new addresses since the Census date. This resulted in a population density ratio of 26,795 persons per square kilometer, placing Southbank - East in the top 10% of national locations assessed by AreaSearch, indicating high demand for land in the area. The area's growth exceeded both national (8.9%) and state averages since the 2021 census, positioning it as a growth leader. Overseas migration contributed approximately 86.3% of overall population gains during recent periods, although all drivers were positive factors.

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 uses VIC State Government's Regional/LGA projections from 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. Future projections anticipate exceptional growth, with the area expected to increase by 10,824 persons to 2041 based on latest numbers, marking a 41.1% total increase over the 17-year period.

The level of residential development activity in Southbank - East was found to be higher than 90% of real estate markets across the country

Southbank - East has recorded approximately 386 residential properties granted approval each year. Over the past five financial years, from FY-21 to FY-25, a total of 1931 homes were approved, with no approvals yet in FY-26 as of current data. On average, around 1.4 people have moved to the area annually for each dwelling built during these years, indicating a balanced supply and demand market that supports stable conditions.

The average construction cost value of new homes is $457,000, which is somewhat higher than regional norms, reflecting quality-focused development. This financial year has seen $16.7 million in commercial approvals, suggesting balanced commercial development activity. Compared to Greater Melbourne, Southbank - East has 61.0% more construction activity per person, offering greater choice for buyers and indicating strong developer confidence in the location. All recent development has been comprised of townhouses or apartments, focusing on higher-density living which creates more affordable entry points and caters to downsizers, investors, and first-home buyers. By 2041, Southbank - East is projected to grow by 8816 residents.

If current construction levels persist, housing supply may lag population growth, potentially intensifying buyer competition and supporting price growth.

Southbank - East has very high levels of nearby infrastructure activity, ranking in the top 20% nationally

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified 44 projects that may impact this area. Notable projects include Arts Centre Melbourne State Theatre Upgrades, Melbourne Arts Precinct Transformation, The Fox: NGV Contemporary, and Moray House. Below is a list detailing those likely most relevant.

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

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AreaSearch analysis of employment trends sees Southbank - East performing better than 90% of local markets assessed across Australia

Southbank - East has a highly educated workforce with professional services being strongly represented. The unemployment rate in the area was 2.3% as of June 2025, which is below Greater Melbourne's rate of 4.6%.

Employment growth over the past year was estimated at 6.6%. There were 15,788 residents employed in June 2025 with an unemployment rate of 2.3%, and workforce participation was 78.9% compared to Greater Melbourne's 64.1%. The key industries of employment among residents are professional & technical, accommodation & food, and finance & insurance. Southbank - East has a particular specialization in professional & technical services with an employment share of 1.9 times the regional level.

However, health care & social assistance employs only 8.5% of local workers compared to Greater Melbourne's 14.2%. The ratio of 0.8 workers for each resident indicates a higher level of local employment opportunities than usual. Between June 2024 and June 2025, employment levels increased by 6.6% while the labour force grew by 7.2%, causing the unemployment rate to rise by 0.6 percentage points. In contrast, Greater Melbourne experienced employment growth of 3.5% with a labour force growth of 4.0% and an unemployment rate increase of 0.5 percentage points. Jobs and Skills Australia's national employment forecasts from May 2025 suggest that Southbank - East's employment could grow by approximately 7.0% over five years and 13.9% over ten years, based on a simple weighting extrapolation using the local employment mix.

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

AreaSearch's aggregation of ATO data for financial year 2022 shows Southbank - East had a median taxpayer income of $56,352 and an average of $76,236. Nationally, these figures are high compared to the Greater Melbourne levels of $54,892 and $73,761 respectively. By September 2025, adjusted for Wage Price Index growth of 12.16%, median income is estimated at approximately $63,204 and average at $85,506. The 2021 Census records individual earnings at the 88th percentile nationally ($1,152 weekly) and household income at the 58th percentile. Income distribution shows that 39.1% of residents (8,381 people) fall within the $1,500 - 2,999 bracket, similar to the surrounding region's 32.8%. Housing costs consume 19.3% of income, but strong earnings place disposable income at the 54th percentile. The area's SEIFA income ranking is in the 9th decile.

Southbank - East features a more urban dwelling mix with significant apartment living, with a higher proportion of rental properties than the broader region

Southbank - East's dwelling structure, as per the latest Census, had 0.0% houses and 99.9% other dwellings (semi-detached, apartments, 'other' dwellings). Melbourne metro, in comparison, had 2.2% houses and 97.8% other dwellings. Home ownership in Southbank - East was 11.7%, with mortgaged dwellings at 17.8% and rented ones at 70.5%. The median monthly mortgage repayment was $1,820, lower than Melbourne metro's $1,962 but close to the Australian average of $1,863. Median weekly rent in Southbank - East was $408, higher than Melbourne metro's $396 and national figure of $375.

Southbank - East features high concentrations of group households and lone person households, with a fairly typical median household size

Family households constitute 43.3% of all households, including 7.2% couples with children, 30.1% couples without children, and 3.8% single parent families. Non-family households account for the remaining 56.7%, with lone person households at 42.6% and group households comprising 14.0%. The median household size is 1.8 people, which aligns with the Greater Melbourne average.

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

Southbank-East's educational attainment is notably higher than national averages. 65.4% of its residents aged 15+ hold university qualifications, compared to Australia's 30.4% and Victoria's 33.4%. Bachelor degrees are most prevalent at 39.1%, followed by postgraduate qualifications (22.7%) and graduate diplomas (3.6%). Vocational pathways account for 17.5%, with advanced diplomas at 10.4% and certificates at 7.1%.

Educational participation is high, with 31.0% of residents currently enrolled in formal education. This includes tertiary education (16.4%), primary education (2.1%), and secondary education (1.3%). The Victorian College Of The Arts Secondary School serves Southbank-East, with an enrollment of 340 students as of the latest data. The school has a high academic achievement index (ICSEA: 1140). There is one secondary school in the area, while primary students typically attend schools in neighboring catchments due to limited local capacity (1.6 places per 100 residents vs regional average of 6.9).

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

Southbank - East has 20 active public transport stops offering a mix of lightrail and bus services. These stops are served by 15 different routes that collectively facilitate 8,124 weekly passenger trips. The area's transport accessibility is rated excellent, with residents located an average of 141 meters from the nearest stop.

Service frequency across all routes averages 1,160 trips per day, equating to approximately 406 weekly trips per individual stop.

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

Southbank - East shows excellent health outcomes, with very low prevalence of common health conditions across all age groups.

Approximately 58% of its total population (12,390 people) has private health cover, which is exceptionally high. Mental health issues and asthma are the most prevalent medical conditions in the area, affecting 7.2% and 6.1% of residents respectively. A majority, 82.4%, report being completely free from medical ailments compared to 79.8% across Greater Melbourne. The area has a lower proportion of seniors aged 65 and over at 4.9% (1,058 people), compared to Greater Melbourne's 6.8%. Despite this, health outcomes among seniors are strong and align with the general population's health profile.

Southbank - East is among the most culturally diverse areas in the country based on AreaSearch assessment of a range of language and cultural background related metrics

Southbank-East has high cultural diversity, with 52.6% speaking a language other than English at home and 65.8% born overseas. Christianity is the main religion, at 30.0%. Hinduism is overrepresented at 8.9%, compared to Greater Melbourne's 6.8%.

Top ancestry groups are Other (19.8%), Chinese (17.6%), and English (14.9%). Spanish (1.2%) Korean (1.9%) and Indian (8.2%) ethnicities are notably overrepresented in Southbank-East compared to regional averages of 0.7%, 1.5% and 5.5% respectively.

Southbank - East hosts a very young demographic, ranking in the bottom 10% of areas nationwide

Southbank-East has a median age of 31 years, which is lower than the Greater Melbourne average of 37 and the Australian median of 38. Compared to Greater Melbourne, Southbank-East has a higher proportion of residents aged 25-34 (41.7%), but fewer residents aged 5-14 (2.4%). This concentration of 25-34 year-olds is significantly higher than the national average of 14.5%. Between 2021 and present, the proportion of residents aged 15-24 has increased from 16.1% to 17.3%, while the proportion of those aged 25-34 has decreased from 43.5% to 41.7%. By 2041, demographic modeling projects significant changes in Southbank-East's age profile. The number of residents aged 25-34 is projected to grow by 2,204 people (25%), reaching a total of 11,143 from the current 8,938.