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, as of August 2025, is approximately 21,434. This figure represents a growth of 5,333 people, an increase of 33.1% since the 2021 Census which reported a population of 16,101. The change was inferred from the estimated resident population of 19,428 in June 2024 and an additional 1,113 validated new addresses post-Census date. This results in a density ratio of 26,792 persons per square kilometer, placing Southbank - East in the top 10% nationally by AreaSearch's assessment. The area's growth rate exceeds both national (8.6%) and state averages since the Census. Overseas migration contributed approximately 86.3% to overall population gains during recent periods, though natural growth and interstate migration also played positive roles.

AreaSearch employs 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 uses VIC State Government's Regional/LGA projections from 2023, adjusted using weighted aggregation methods to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. By 2041, Southbank - East is projected to experience exceptional growth, increasing its population by 10,824 persons, representing a total increase of 41.1% over the 17-year period based on recent numbers.

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. The Australian Bureau of Statistics produces development approval data on a financial year basis, showing around 1,931 homes approved over the past five financial years, from FY-21 to FY-25, and none yet in FY-26. On average, about 1.4 new residents have arrived per new home each year during these five financial years, indicating a balanced supply and demand scenario that has maintained stable market conditions. The average expected construction cost value of new dwellings is $559,000.

This year has seen around $16.7 million in commercial approvals, suggesting steady commercial development activity. Compared to Greater Melbourne, Southbank - East exhibits 61.0% more construction activity per person, offering greater choice for buyers and reflecting strong developer confidence in the location. All recent developments have consisted of townhouses or apartments, promoting higher-density living that provides affordable entry points for downsizers, investors, and first-home buyers. By 2041, Southbank - East is projected to grow by 8,818 residents. If current construction levels persist, housing supply may lag behind population growth, potentially intensifying buyer competition and supporting price growth.

Looking ahead, Southbank - East is expected to grow by 8,818 residents through to 2041. Should current construction levels persist, housing supply could lag population growth, likely intensifying buyer competition and underpinning 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 47 projects likely to impact the area. Key projects include Arts Centre Melbourne State Theatre Upgrades, The Fox: NGV Contemporary, Melbourne Arts Precinct Transformation - Laak Boorndap Garden, and Moray House. Below is a list of projects likely to be most relevant.

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

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

Southbank - East has an educated workforce with strong professional services representation. Its unemployment rate was 2.3% in June 2025, below Greater Melbourne's 4.6%.

Employment growth over the past year was estimated at 6.6%. As of June 2025, 15,788 residents were employed with a workforce participation rate of 78.9%, higher than Greater Melbourne's 64.1%. Key industries include professional & technical, accommodation & food, and finance & insurance. The area specializes in professional & technical jobs, with an employment share 1.9 times the regional level.

Health care & social assistance employs 8.5% of local workers, below Greater Melbourne's 14.2%. The worker-to-resident ratio is 0.8, indicating above-normal local employment opportunities. Between June 2024 and June 2025, employment levels increased by 6.6%, labour force by 7.2%, raising the unemployment rate by 0.6 percentage points. In contrast, Greater Melbourne had employment growth of 3.5% and a 0.5 percentage point rise in unemployment. State-level data to Sep-25 shows VIC employment grew by 1.08% year-on-year, with an unemployment rate of 4.7%. National forecasts from May 2025 project national employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Southbank - East's industry mix suggests local growth of approximately 7.0% over five years and 13.9% over ten years.

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

According to AreaSearch's aggregation of latest postcode level ATO data released for financial year 2022, Southbank - East had a median income among taxpayers of $56,352 with an average level of $76,236. These figures are high nationally compared to Greater Melbourne's median and average incomes of $54,892 and $73,761 respectively. Based on Wage Price Index growth of 10.11% since financial year 2022, estimated current incomes as of March 2025 are approximately $62,049 (median) and $83,943 (average). From the 2021 Census, individual earnings rank at the 88th percentile nationally ($1,152 weekly), but household income ranks lower at the 58th percentile. Distribution data shows that the highest income bracket of $1,500 - 2,999 dominates with 39.1% of residents (8,380 people). This aligns with the surrounding region where this cohort represents 32.8%. High housing costs consume 19.3% of income, but strong earnings still 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 structure in its latest Census evaluation showed 0.0% houses and 99.9% other dwellings (semi-detached, apartments, 'other' dwellings), contrasting with Melbourne metro's 2.2% houses and 97.8% 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 $1,962 and the Australian average of $1,863. Median weekly rent in Southbank - East was $408, higher than Melbourne metro's $396 and the 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 making up 14.0%. The median household size is 1.8 people, which aligns with Greater Melbourne's 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 significantly exceeds national and state averages. As of [2016](https://www.abs.gov.au/), 65.4% of its residents aged 15 and above held university qualifications, compared to the Australian average of 30.4% and Victoria's average of 33.4%. Bachelor degrees were the most common at 39.1%, followed by postgraduate qualifications (22.7%) and graduate diplomas (3.6%). Vocational pathways accounted for 17.5% of qualifications, with advanced diplomas at 10.4% and certificates at 7.1%.

Educational participation was high, with 31.0% of residents currently enrolled in formal education. This included 16.4% in tertiary education, 2.1% in primary education, and 1.3% pursuing secondary education. The Victorian College Of The Arts Secondary School served Southbank-East, enrolling 340 students as of [2019](https://www.vca.vic.gov.au/). Southbank-East demonstrated significant socio-educational advantages with an ICSEA score of 1140. Secondary education dominated with one school, while primary students typically attended schools in adjacent catchments due to limited local school capacity (1.6 places per 100 residents versus the 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, serving a mix of lightrail and bus routes. These stops are served by 15 individual routes, together providing 8,124 weekly passenger trips. Residents enjoy excellent transport accessibility, with an average distance of 141 meters to the nearest stop.

The service frequency averages 1,160 trips per day across all routes, 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 across all age groups, with very low prevalence of common health conditions.

Private health cover is exceptionally high at approximately 58% (12,388 people). Mental health issues and asthma are the most common medical conditions, affecting 7.2 and 6.1% of residents respectively. A total of 82.4% declare themselves completely clear of medical ailments, compared to 79.8% across Greater Melbourne. The area has 4.9% (1,058 people) of residents aged 65 and over, lower than the 6.8% in Greater Melbourne. Health outcomes among seniors are strong, broadly inline 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 is among the most culturally diverse areas in Australia, with 52.6% of its population speaking a language other than English at home and 65.8%, born overseas. Christianity is the main religion in Southbank-East, comprising 30.0% of people there. However, Hinduism is notably overrepresented, making up 8.9% compared to 6.8% across Greater Melbourne.

The top three ancestry groups are Other (19.8%), Chinese (17.6%), and English (14.9%). Spanish, Korean, and Indian ethnicities are also notable for their higher representation 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 at 31 years 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 (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 projections suggest Southbank-East's age profile will change significantly. The number of residents aged 25-34 is projected to grow by 2,205 people (25%), reaching 11,143 from the current figure of 8,937.