Southbank - East

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

As of May 2026, Southbank - East's population is approximately 19,552, showing a 21.4% increase from the 2021 Census figure of 16,101 people. This growth is inferred from an estimated resident population of 19,552 in June 2025 and 681 new addresses validated since the Census date. The area's population density is around 24,440 persons per square kilometer, placing it in the top 10% nationally according to AreaSearch. Southbank - East's growth exceeded both state (9.3%) and national averages since the 2021 census, driven primarily by overseas migration contributing approximately 91.5% of overall population gains. AreaSearch uses ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022. For areas not covered, they utilise VIC State Government's Regional/LGA projections from 2023, adjusting using weighted aggregation methods to SA2 levels.

Growth rates by age group are applied across all areas for years 2032 to 2041. Based on these projections, Southbank - East is expected to experience significant growth by 2041, with an increase of 9,391 persons projected, reflecting a total gain of 48.0% over the 16-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 seen approximately 386 new homes approved annually over the past five financial years, with a total of 1931 homes approved between FY21 and FY25. No new homes have been approved in FY26 to date. On average, 1.4 new residents per year have moved into these new homes since FY21.

The average construction value of these properties is $457,000, slightly above the regional average. This financial year has seen $16.7 million in commercial approvals registered, indicating steady investment activity. Compared to Greater Melbourne, Southbank - East records 57% more development activity per person, suggesting robust developer interest and ample choice for buyers. All recent developments have been townhouses or apartments, offering affordable entry pathways and attracting downsizers, investors, and first-time purchasers. By 2041, the population is forecasted to grow by 9391 residents.

If current development rates continue, housing supply may not keep pace with population growth, potentially increasing competition among buyers and supporting stronger price growth.

Southbank - East has strong levels of nearby infrastructure activity, ranking in the top 40% nationally

Changes in local infrastructure significantly affect an area's performance. AreaSearch has identified 43 projects that may impact this region. Notable projects include Ian Potter State Theatre Refurbishment, The Fox: NGV Contemporary, Melbourne Arts Precinct Transformation, 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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Employment conditions in Southbank - East rank among the top 10% of areas assessed nationally

Southbank - East has an educated workforce with strong professional services representation. Its unemployment rate is 2.4%, lower than Greater Melbourne's 4.8%. Employment growth over the past year was estimated at 4.3%.

As of December 2025, 15,657 residents are employed, with a participation rate of 86.2% compared to Greater Melbourne's 69.9%. A high 45.0% work from home, potentially influenced by Covid-19 lockdowns. Key employment sectors include professional & technical, accommodation & food, and finance & insurance. The area specializes in professional & technical jobs, with a share 1.9 times the regional level, but has fewer health care & social assistance roles (8.5% vs Greater Melbourne's 14.2%).

The worker-to-resident ratio is 0.8, indicating ample local employment opportunities. Between December 2024 and 2025, employment increased by 4.3%, labour force by 4.7%, leading to a 0.4 percentage point unemployment rise. In comparison, Greater Melbourne saw employment grow by 2.4%, labour force by 2.8%, with unemployment rising by 0.3 percentage points. National employment forecasts from Jobs and Skills Australia (May-25) project growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Southbank - East's employment mix suggests local employment should increase by 7.0% over five years and 13.9% over ten years, though this is a simple extrapolation for illustrative purposes only.

The economic profile demonstrates above-average performance, with income metrics exceeding national benchmarks based on AreaSearch comparative assessment

AreaSearch's data for financial year 2023 shows Southbank - East SA2 has above average national incomes. The median income is $58,169 and the average is $75,640. Greater Melbourne's median income is $57,688 with an average of $75,164. Based on a 9.62% Wage Price Index growth since financial year 2023, estimated incomes as of March 2026 would be approximately $63,765 (median) and $82,917 (average). According to the 2021 Census, individual earnings rank at the 88th percentile nationally ($1,152 weekly), but household income ranks lower at the 57th percentile. The predominant earnings cohort is 39.1% of locals (7,644 people) in the $1,500 - 2,999 category, similar to regional patterns where 32.8% occupy this range. High housing costs consume 19.3% of income, but strong earnings place disposable income at the 54th percentile. The area's SEIFA income ranking places it 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 structures, as per the latest Census, consisted of 0.0% houses and 99.9% other dwellings such as semi-detached homes, apartments, and others. This contrasts with Melbourne metro's 67.9% houses and 32.1% other dwellings. Home ownership in Southbank - East was at 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 $2,000 but close to the national average of $1,863. Median weekly rent in Southbank - East was $408, higher than Melbourne metro's $390 and the national figure of $375.

Southbank - East features high concentrations of group households and lone person households, with a lower-than-average 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 is smaller than the Greater Melbourne average of 2.6.

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 has a notably high level of educational attainment among its residents aged 15 and above. Specifically, 65.4% hold university qualifications, which is significantly higher than the national average of 30.4% and the Victorian average of 33.4%. This indicates a substantial educational advantage for the area, positioning it favourably for knowledge-based opportunities. The distribution of these university qualifications shows that 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% of qualifications among those aged 15 and above, with advanced diplomas making up 10.4% and certificates comprising 7.1%. Educational participation in Southbank - East is also notably high, with 31.0% of residents currently enrolled in formal education. This includes 16.4% pursuing tertiary education, 2.1% in primary education, and 1.3% engaged in secondary education.

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 lightrail and bus services. These stops are served by 15 routes, facilitating 16,221 weekly passenger trips. Residents enjoy excellent transport accessibility, with an average distance of 142 meters to the nearest stop. Predominantly residential, most commuters travel outward. Cars remain the primary mode at 32%, followed by walking (24%) and train (15%). Average vehicle ownership is 0.2 per dwelling, lower than the regional norm.

According to the 2021 Census, 45% of residents work from home, potentially influenced by COVID-19 conditions. Daily service frequency averages 2,317 trips across all routes, equating to approximately 811 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's health outcomes show excellent results based on AreaSearch's assessment of mortality rates and chronic condition prevalence.

The area has a very low prevalence of common health conditions across all age groups. Approximately 57% (~11,066 people) of the total population have private health cover, which is very high. Mental health issues and asthma are the most prevalent medical conditions in the area, affecting 7.2 and 6.1% of residents respectively. About 82.4% of residents declare themselves completely clear of medical ailments compared to 72.6% across Greater Melbourne. The area has 5.1% (993 people) of residents aged 65 and over, which is lower than the 15.0% in Greater Melbourne. Health outcomes among seniors are particularly strong, with national rankings broadly in line with the general population.

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, a culturally diverse area in the country, has 52.6% of its population speaking languages other than English at home. Born overseas, 65.8% of Southbank-East's residents were born outside Australia. Christianity is the predominant religion in Southbank-East, with 30.0%.

Hinduism stands out with 8.9%, higher than Greater Melbourne's 4.4%. In terms of ancestry, 'Other' leads at 19.8%, significantly more than the regional average of 14.6%. Chinese ancestry is also high at 17.6% (regional average: 6.5%), while English ancestry is notably lower at 14.9% (regional average: 20.1%). Spanish, Korean, and Indian ethnic groups are overrepresented in Southbank-East: Spanish at 1.2%, Korean at 1.9%, and Indian at 8.2%.

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

Southbank-East's median age is 31 years, which is lower than Greater Melbourne's average of 37 and Australia's median of 38. Compared to Greater Melbourne, Southbank-East has a higher proportion of residents aged 25-34 (42.3%) but fewer residents aged 5-14 (2.5%). This concentration of 25-34 year-olds is significantly higher than the national average of 14.6%. Between 2021 and present, the proportion of Southbank-East's population aged 35-44 has increased from 18.5% to 19.8%, while the proportion of those aged 25-34 has decreased from 43.5% to 42.3%. By 2041, demographic projections indicate significant changes in Southbank-East's age profile. The number of residents aged 25-34 is projected to increase by 2,768 people (33%), from 8,270 to 11,039.