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

Based on AreaSearch's analysis, Southbank - East's population is around 20,650 as of Feb 2026. This reflects an increase of 4,549 people (28.3%) since the 2021 Census, which reported a population of 16,101 people. The change is inferred from the estimated resident population of 19,428 from the ABS as of June 2024 and an additional 681 validated new addresses since the Census date. This population level equates to a density ratio of 25,812 persons per square kilometer, which lies in the top 10% of national locations assessed by AreaSearch, making land in the area a highly sought resource. Southbank - East's 28.3% growth since the 2021 census exceeded the national average (9.9%) and the state average, marking it as a growth leader in the region. Population growth for the area was primarily driven by overseas migration, which contributed approximately 86.3% of overall population gains during recent periods, although all drivers, including natural growth and interstate migration, 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 VIC State Government's Regional/LGA projections released in 2023, with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations are also applied across all areas for years 2032 to 2041. Considering the projected demographic shifts, exceptional growth, placing it in the top 10 percent of national areas, is predicted over the period, with the area expected to increase by 10,824 persons by 2041 based on the latest annual ERP population numbers, recording a gain of 46.5% in total over the 17 years.

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 around 386 new homes approved each year, with 1,931 homes approved over the past 5 financial years (between FY-21 and FY-25) and 0 so far in FY-26. At an average of 1.4 new residents per year arriving per new home over the past 5 financial years (between FY-21 and FY-25), the market shows a good balance between supply and demand, supporting stable conditions, while new properties are constructed at an average value of $457,000—slightly above the regional average—suggesting a focus on quality developments. Additionally, $16.7 million in commercial approvals have been registered this financial year, indicating steady commercial investment activity.

Relative to Greater Melbourne, Southbank - East records 61.0% more development activity (per person), which should provide buyers with ample choice. This is significantly above the national average, indicating robust developer interest in the area. Meanwhile, recent development has been entirely comprised of townhouses or apartments. This skew toward compact living offers affordable entry pathways and attracts downsizers, investors, and first-time purchasers.

Population forecasts indicate Southbank - East will gain 9,602 residents through to 2041 (from the latest AreaSearch quarterly estimate). 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

Nothing can influence an area's performance as much as changes to local infrastructure, major projects, and planning initiatives. In total 42 projects have been identified by AreaSearch that are likely to have an impact on the area. Key projects include the Arts Centre Melbourne Ian Potter State Theatre Upgrades, The Fox: NGV Contemporary, the Melbourne Arts Precinct Transformation, and Moray House, with the list below detailing those likely to be of most relevance.

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

Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.

Employment conditions in Southbank - East rank among the top 10% of areas assessed nationally

Southbank - East has a highly educated workforce, with professional services showing strong representation, an unemployment rate of just 2.4%, and 4.3% in estimated employment growth over the past year. As of December 2025, 15,657 residents are in work while the unemployment rate is 2.4% below Greater Melbourne's rate of 4.8%, and workforce participation is well beyond standard (87.0% compared to Greater Melbourne's 71.3%). Based on Census responses, a high 45.0% of residents were found to work from home, though Covid-19 lockdown impacts should be considered.

Employment among residents is concentrated in professional & technical, accommodation & food, and finance & insurance. The area has a particular employment specialization in professional & technical, with an employment share 1.9 times the regional level. On the other hand, health care & social assistance is under-represented, with only 8.5% of Southbank - East's workforce compared to 14.2% in Greater Melbourne. The ratio of 0.8 workers for each resident, as at the Census, indicates a level of local employment opportunities above the norm.

Based on AreaSearch analysis of SALM and ABS data, the 12-month period saw employment increasing by 4.3% alongside the labour force increasing by 4.7%, resulting in unemployment rising by 0.4 percentage points. By comparison, Greater Melbourne recorded employment growth of 2.4% and labour force growth of 2.8%, with unemployment rising 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 can offer further insight into potential future demand within Southbank - East. These projections, covering five and ten-year periods, have been mapped against the local employment profile to estimate growth patterns. While national employment is forecast to expand by 6.6% over five years and 13.7% over ten years, growth rates differ significantly between industry sectors. Applying these industry-specific projections to Southbank - East's employment mix suggests local employment should increase by 7.0% over five years and 13.9% over ten years (please note this is a simple weighting extrapolation for illustrative purposes and does not take into account localised population projections).

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

AreaSearch's latest postcode level ATO data for FY-23 reveals that income in the Southbank - East SA2 is well above the national average, with the median assessed at $58,169 while the average income stands at $75,640. This contrasts with Greater Melbourne's figures of a median income of $57,688 and an average income of $75,164. Based on Wage Price Index growth of 8.25% since FY-23, current estimates would be approximately $62,968 (median) and $81,880 (average) as of September 2025. From the 2021 Census, individual earnings stand out at the 88th percentile nationally ($1,152 weekly), though household income ranks lower at the 57th percentile. The earnings profile shows the predominant cohort spans 39.1% of locals (8,074 people) in the $1,500 - 2,999 category, reflecting patterns seen in the region where 32.8% similarly occupy this range. High housing costs consume 19.3% of income, though strong earnings still place disposable income at the 54th percentile and 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

Dwelling structure within Southbank - East, as evaluated at the latest Census, comprised 0.0% houses and 99.9% other dwellings (semi-detached, apartments, 'other' dwellings), in comparison to Melbourne metro's 67.9% houses and 32.1% other dwellings. Meanwhile, the level of home ownership within Southbank - East was lagging that of Melbourne metro, at 11.7%, with the remainder of dwellings either mortgaged (17.8%) or rented (70.5%). The median monthly mortgage repayment in the area was below the Melbourne metro average at $1,820, while the median weekly rent figure was recorded at $408, compared to Melbourne metro's $2,000 and $390. Nationally, Southbank - East's mortgage repayments are lower than the Australian average of $1,863, while rents are exceeding 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 dominate at 43.3% of all households, comprising 7.2% couples with children, 30.1% couples without children, and 3.8% single parent families. Non-family households make up the remaining 56.7%, with lone person households at 42.6% and group households comprising 14.0% of the total. The median household size of 1.8 people 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

Educational attainment in Southbank - East significantly surpasses broader benchmarks, with 65.4% of residents aged 15+ holding university qualifications compared to 30.4% in Australia and 33.4% in VIC. This substantial educational advantage positions the area strongly for knowledge-based opportunities. Bachelor degrees lead 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+ – advanced diplomas (10.4%) and certificates (7.1%).

Educational participation is notably high, with 31.0% of residents currently enrolled in formal education. This includes 16.4% in tertiary education, 2.1% in primary education, and 1.3% pursuing secondary education.

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

Public transport analysis reveals 20 active transport stops operating within Southbank - East, comprising a mix of light rail and buses. These stops are serviced by 15 individual routes, collectively providing 16,221 weekly passenger trips. Transport accessibility is rated as excellent, with residents typically located 142 meters from the nearest transport stop. As a primarily residential area, most residents commute outward; the car remains the dominant mode at 32%, with 24% walking and 15% by train. Vehicle ownership averages 0.2 per dwelling, below the regional average. A high 45.0% of residents work from home (2021 Census; may reflect COVID-19 conditions).

Service frequency averages 2,317 trips per day 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

Health outcomes data demonstrates outstanding results across Southbank - East, based on AreaSearch's assessment of mortality rates and chronic condition prevalence. There is a very low prevalence of common health conditions across all age groups, and the rate of private health cover is very high at approximately 57% of the total population (~11,687 people).

The most common medical conditions in the area were found to be mental health issues and asthma, impacting 7.2 and 6.1% of residents, respectively, while 82.4% declared themselves as completely clear of medical ailments compared to 72.6% across Greater Melbourne. The area has 5.2% of residents aged 65 and over (1,084 people), which is lower than the 15.1% 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 is among the most culturally diverse areas in the country, with 52.6% of its population speaking a language other than English at home and 65.8% born overseas. The main religion in Southbank - East is Christianity, which makes up 30.0% of the population. However, the most apparent overrepresentation is in Hinduism, which comprises 8.9% of the population, compared to 4.4% across Greater Melbourne.

In terms of ancestry (country of birth of parents), the top three represented groups in Southbank - East are Other, comprising 19.8% of the population, which is substantially higher than the regional average of 14.6%, Chinese, comprising 17.6% of the population, which is substantially higher than the regional average of 6.5%, and English, comprising 14.9% of the population, which is notably lower than the regional average of 20.1%. Additionally, there are notable divergences in the representation of certain other ethnic groups: Spanish is notably overrepresented at 1.2% of Southbank - East (vs 0.4% regionally), Korean at 1.9% (vs 0.3%) and Indian at 8.2% (vs 4.2%).

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

At 32 years, Southbank - East's median age is materially younger than the Greater Melbourne average of 37 and also significantly lower than the 38-year national average. Relative to Greater Melbourne, Southbank - East has a higher concentration of 25 - 34 residents (41.0%) but fewer 5 - 14 year-olds (2.4%). This 25 - 34 concentration is well above the national 14.4%. Post-2021 Census data shows the 35 to 44 age group has grown from 18.5% to 19.7% of the population. Conversely, the 25 to 34 cohort has declined from 43.5% to 41.0%. Demographic modeling suggests Southbank - East's age profile will evolve significantly by 2041. The 25 to 34 cohort shows the strongest projected growth at 32%, adding 2,686 residents to reach 11,143.