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 21,436 as of November 2025, according to AreaSearch's analysis. This figure reflects an increase of 5,335 people since the 2021 Census, which reported a population of 16,101 people in Southbank - East. The increase is inferred from ABS estimated resident population data of 19,428 as of June 2024 and an additional 1,114 validated new addresses since the Census date. This results 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. The area's population growth rate of 33.1% since the 2021 census exceeded both the national average (8.9%) and state averages, indicating significant growth. Overseas migration was the primary driver of this growth, contributing approximately 86.3% of overall population gains during recent periods.

However, natural growth and interstate migration also played positive roles. AreaSearch's projections for Southbank - East are based on ABS/Geoscience Australia data released in 2024 with a base year of 2022. For areas not covered by this data, AreaSearch uses the VIC State Government's Regional/LGA projections released in 2023, adjusted using weighted aggregation methods to SA2 levels. Growth rates by age group from these aggregations are applied across all areas for years 2032 to 2041. Future population dynamics predict exceptional growth for Southbank - East, with an expected increase of 10,824 persons to 2041 based on the latest annual ERP population numbers, reflecting a total increase of 41.1% 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 recorded approximately 386 residential properties granted approval annually. Over the past five financial years, from FY21 to FY25, 1931 homes were approved, with none yet in FY26. On average, 1.4 people moved to the area per dwelling built over these years, indicating a balanced supply and demand market that supports stable conditions.

The average construction value of new homes was $457,000, higher than regional norms due to quality-focused development. In FY26, there have been $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 reflecting strong developer confidence in the location. All recent developments comprised 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 8,816 residents.

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

Southbank - East has strong levels of nearby infrastructure activity, ranking in the top 30% nationally

Changes in local infrastructure significantly affect an area's performance. AreaSearch has identified 44 projects that could impact this region. Notable ones include The Fox: NGV Contemporary, Arts Centre Melbourne State Theatre Upgrades, Melbourne Arts Precinct Transformation, and Moray House. Below is a list detailing those 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 an educated workforce with significant representation in professional services. Its unemployment rate was 2.4% as of September 2025, with estimated employment growth of 4.6% over the past year.

This is lower than Greater Melbourne's unemployment rate of 4.7%. Workforce participation in Southbank - East is higher at 78.9%, compared to Greater Melbourne's 64.1%. Key industries for residents are professional & technical, accommodation & food, and finance & insurance. The area specializes in professional & technical employment with a share 1.9 times the regional level, while health care & social assistance employs only 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 September 2024 and September 2025, employment levels in Southbank - East increased by 4.6%, with a corresponding labour force increase of 5.0%. This resulted in an unemployment rate rise of 0.4 percentage points. In contrast, Greater Melbourne had employment growth of 3.0% and labour force growth of 3.3%, with a 0.3 percentage point rise in unemployment. As of 25-Nov-25, Victoria's employment grew by 1.13% year-on-year, adding 41,950 jobs. The state unemployment rate was 4.7%, compared to the national rate of 4.3%. National employment forecasts from May-25 project a 6.6% increase 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, assuming constant population projections for illustrative purposes.

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

According to AreaSearch's aggregation of ATO data released for financial year 2022, Southbank - East SA2 had a median taxpayer income of $56,352 and an average income of $76,236. Nationally, these figures are high compared to Greater Melbourne's median income of $54,892 and average income of $73,761. By September 2025, estimated median income is approximately $63,204 and average income is around $85,506, accounting for a 12.16% Wage Price Index growth since financial year 2022. In the 2021 Census, individual earnings ranked at the 88th percentile nationally ($1,152 weekly), while household income was at the 57th percentile. Income distribution shows that 39.1% of residents (8,381 people) fall into the $1,500 - 2,999 bracket, similar to the surrounding region's 32.8%. 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 structure, as per the latest Census, had 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 stood 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 average of $1,962. Median weekly rent in Southbank - East was $408, higher than the national average of $375 but lower than Melbourne metro's $396.

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 has a notably high level of educational attainment. As of the latest data, 65.4% of residents aged 15 years and over hold university qualifications. This figure is significantly higher than the national average of 30.4% and the Victorian state average of 33.4%. The area's educational advantage is evident in its high proportion of Bachelor degree holders at 39.1%, followed by postgraduate qualifications at 22.7%, and graduate diplomas at 3.6%.

Vocational pathways are also well-represented, with advanced diplomas accounting for 10.4% and certificates for 7.1% among those aged 15 years and over. Educational participation is notably high in the area, with 31.0% of residents currently enrolled in formal education programs. 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 that as of June 2021, there are 20 active transport stops operating within Southbank - East. These stops offer a mix of lightrail and bus services, with 15 individual routes in total providing 8,124 weekly passenger trips. Transport accessibility is rated excellent, with residents located an average of 141 meters from the nearest transport stop.

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 demonstrates excellent health outcomes with very low prevalence of common conditions across all ages.

Approximately 58% (~12,390 people) have private health cover, higher than the Greater Melbourne average. Mental health issues and asthma are the most prevalent conditions, affecting 7.2 and 6.1% respectively. About 82.4% report no medical ailments, compared to 79.8% in Greater Melbourne. As of 30 June 20XX, 4.9% (1,058 people) are aged 65 and over, lower than the Greater Melbourne average of 6.8%. Despite this, seniors' health outcomes align with those of 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, one of Australia's most culturally diverse areas, has 52.6% of its population speaking languages other than English at home and 65.8% born overseas. Christianity is the predominant religion in Southbank-East, making up 30.0% of people. Hinduism is overrepresented compared to Greater Melbourne, comprising 8.9% versus 6.8%.

The top three parental ancestry groups are Other (19.8%), Chinese (17.6%), and English (14.9%). Some ethnic groups show notable divergences: Spanish at 1.2% in Southbank-East compared to 0.7% regionally, Korean at 1.9% versus 1.5%, and Indian at 8.2% versus 5.5%.

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 less than the Greater Melbourne average of 37 and significantly lower than 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 notably higher than the national average of 14.5%. Between 2021 and present, the proportion of residents aged 15 to 24 has increased from 16.1% to 17.3%, while the proportion of those aged 25 to 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 expected to grow by 2,204 people (25%), reaching a total of 11,143 from the current figure of 8,938.