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

Southbank - East's population was around 20,650 as of February 2026. This reflected an increase of 4,549 people 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 681 validated new addresses since the Census date. This resulted in a density ratio of 25,812 persons per square kilometer, placing Southbank - East in the top 10% of national locations assessed by AreaSearch. The area's growth of 28.3% since the 2021 census exceeded both the national average (9.9%) and state averages, marking it as a growth leader. Overseas migration 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, released in 2024 with 2022 as the base year. For areas not covered by this data, AreaSearch utilises VIC State Government's Regional/LGA projections released in 2023, adjusted using 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 these projections, Southbank - East is predicted to experience exceptional growth, increasing by 10,824 persons to 2041 and reflecting a gain of 46.5% in total 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 seen approximately 386 new homes approved annually over the past five financial years. Between FY21 and FY25, a total of 1931 homes were approved, with no approvals recorded so far in FY26. On average, 1.4 new residents have arrived per new home each year during this period.

This balance between supply and demand supports stable market conditions. The average construction value of new properties is $457,000, slightly above the regional average, indicating a focus on quality developments. In FY26, commercial approvals worth $16.7 million have been registered, demonstrating steady investment activity in the area. Compared to Greater Melbourne, Southbank - East records 61.0% more development activity per person, suggesting robust developer interest and ample choice for buyers. All recent development has consisted of townhouses or apartments, offering affordable entry pathways and attracting downsizers, investors, and first-time purchasers.

By 2041, Southbank - East is forecasted to gain 9602 residents. If current development rates continue, housing supply may not keep pace with population growth, potentially increasing buyer competition and supporting stronger price growth.

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

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified 42 such projects likely to impact the area. Notable ones include Arts Centre Melbourne Ian Potter State Theatre Upgrades, The Fox: NGV Contemporary, Melbourne Arts Precinct Transformation, and Moray House. Below is a list of those 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 a highly educated workforce with strong representation in professional services. Its unemployment rate was 2.4% as of September 2025, which is below Greater Melbourne's rate of 4.7%. The area experienced an estimated employment growth of 4.6% over the past year.

As of September 2025, 15,520 residents were in work and the unemployment rate was 2.3%, with workforce participation at 86.1% compared to Greater Melbourne's 71.0%. Census responses indicated that 45.0% of residents worked from home. Employment is concentrated in professional & technical, accommodation & food, and finance & insurance sectors. Southbank - East has a particular employment specialization in professional & technical services with an employment share of 1.9 times the regional level.

However, health care & social assistance is under-represented at 8.5% compared to Greater Melbourne's 14.2%. The ratio of 0.8 workers per resident indicates a level of local employment opportunities above the norm. In the 12-month period ending in September 2025, employment increased by 4.6%, labour force increased by 5.0%, and unemployment rose by 0.4 percentage points. By comparison, Greater Melbourne recorded employment growth of 3.0%, labour force growth of 3.3%, with unemployment rising 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 project national employment to expand by 6.6% over five years and 13.7% over ten years, but growth rates differ significantly between industry sectors. 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.

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 financial year 2023 shows that Southbank - East SA2 has an above average national income. The median income is $58,169 and the average income stands at $75,640. In comparison, Greater Melbourne's median income is $57,688 with an average of $75,164. Based on Wage Price Index growth of 8.25% since financial year 2023, current estimates for Southbank - East SA2 would be approximately $62,968 (median) and $81,880 (average) as of September 2025. 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 earnings profile shows that 39.1% of locals (8,074 people) fall into the $1,500 - 2,999 income category, reflecting 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 nationally. 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, as per the latest Census, had 0.0% houses and 99.9% other dwellings (semi-detached, apartments, 'other' dwellings). In contrast, Melbourne metro had 67.9% houses and 32.1% 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 $2,000. The median weekly rent was $408, higher than Melbourne metro's $390. Nationally, Southbank - East's mortgage repayments were lower at $1,863 and rents higher at $375.

Southbank - East features high concentrations of group households and lone person households, with a lower-than-average median household size

Family households account for 43.3% of all households, including 7.2% that are couples with children, 30.1% that are couples without children, and 3.8% that are 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%. 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 years and above. Specifically, as of the latest data available in 2021, 65.4% of these residents hold university qualifications. This figure is significantly higher than the national average of 30.4% and the state average of 33.4%. The area's educational advantage is reflected in its residents' qualifications: Bachelor degrees are the most common at 39.1%, followed by postgraduate qualifications at 22.7%, and graduate diplomas at 3.6%.

Vocational pathways account for 17.5% of qualifications, with advanced diplomas making up 10.4% and certificates 7.1%. Educational participation is notably high in Southbank - East, with 31.0% of residents currently enrolled in formal education as of the latest data available in 2021. 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 serving a mix of light rail and bus routes. These stops are covered by 15 individual routes, facilitating 16,221 weekly passenger trips in total. Residents enjoy excellent transport accessibility, with an average distance of 142 meters to the nearest stop. As a predominantly residential area, most commuting is outward-bound. The car remains the primary mode of transport at 32%, followed by walking at 24% and train at 15%. On average, there are 0.2 vehicles per dwelling, lower than the regional norm.

According to the 2021 Census, a high proportion of residents work from home, with this figure standing at 45%. Service frequency across all routes averages 2,317 trips daily, equating to around 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 shows excellent health outcomes based on AreaSearch's evaluation of mortality rates and chronic condition prevalence, with very low prevalence of common health conditions across all age groups (2021 data).

Approximately 57% (~11,687 people) have private health cover, the highest rate in Southbank - East. Mental health issues and asthma are the most prevalent medical conditions, affecting 7.2% and 6.1% of residents respectively. 82.4% of residents report no medical ailments, higher than Greater Melbourne's 72.6%. The area has a lower proportion of seniors aged 65 and over (5.2%, or 1,084 people) compared to Greater Melbourne (15.1%). Despite this, health outcomes among seniors are strong and align with national rankings.

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, as of the latest data, has a population where 52.6% speak a language other than English at home and 65.8% were born overseas. Christianity is the predominant religion in Southbank-East, with 30.0% of people adhering to it. Hinduism stands out with 8.9%, compared to the Greater Melbourne average of 4.4%.

In terms of ancestry, the top groups are Other at 19.8%, Chinese at 17.6%, and English at 14.9%. Notably, Spanish (1.2% vs regional 0.4%), Korean (1.9% vs regional 0.3%), and Indian (8.2% vs regional 4.2%) groups are overrepresented in Southbank-East.

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

Southbank-East has a median age of 32 years, which is younger than Greater Melbourne's average of 37 and significantly lower than Australia's national average of 38. Compared to Greater Melbourne, Southbank-East has a higher proportion of residents aged 25-34 (41.0%) but fewer residents aged 5-14 (2.4%). This concentration of 25-34 year-olds is significantly higher than the national average of 14.4%. According to data from the 2021 Census, the proportion of Southbank-East's population aged 35-44 has increased from 18.5% to 19.7%. Conversely, the proportion of residents aged 25-34 has decreased from 43.5% to 41.0%. Demographic projections suggest that by 2041, Southbank-East's age profile will change significantly. The number of residents aged 25-34 is projected to grow by 32%, adding 2,686 people to reach a total of 11,143 in this age group.