Southbank (West) - South Wharf

Population growth drivers in Southbank (West) - South Wharf are above average based on AreaSearch's ranking of recent, and medium to long-term trends

Southbank (West) - South Wharf's population was around 8,501 as of Nov 2025. This reflected an increase of 2,038 people (31.5%) since the 2021 Census, which reported a population of 6,463 people. The change was inferred from the estimated resident population of 7,866 from the ABS as of June 2024 and an additional 430 validated new addresses since the Census date. This level of population equated to a density ratio of 10,001 persons per square kilometer, placing it in the top 10% of national locations assessed by AreaSearch, making land in the area a highly-sought resource. Southbank (West) - South Wharf's growth since the 2021 census exceeded the national average (8.9%), along with the state, marking it as a growth leader in the region. Population growth for the area was primarily driven by overseas migration that contributed approximately 92.2% of overall population gains during recent periods.

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. Looking at population projections moving forward, exceptional growth, placing in the top 10 percent of national statistical areas, is predicted over the period with the area expected to expand by 6,118 persons to 2041 based on the latest annual ERP population numbers, reflecting an increase of 64.5% in total over the 17 years.

Residential development activity is lower than average in Southbank (West) - South Wharf according to AreaSearch's national comparison of local real estate markets

Southbank (West) - South Wharf has seen approximately 158 dwellings granted development approval annually. Over the past five financial years, from FY21 to FY25, around 794 homes have been approved, with no approvals yet in FY26. The average population growth per dwelling built over these years is 0.2 people annually.

This pace of new construction matches or exceeds demand, providing more options for buyers and potentially accelerating population growth beyond current projections. The average expected construction cost value of new homes is $414,000. In FY26, there have been $29.1 million in commercial approvals, indicating robust commercial development momentum. Compared to Greater Melbourne, Southbank (West) - South Wharf exhibits 75.0% higher construction activity per person, offering buyers greater choice, although recent construction activity has eased slightly. This high level reflects strong developer confidence in the area.

All new construction consists of medium and high-density housing, creating more affordable entry points for downsizers, investors, and first-home buyers. The latest AreaSearch quarterly estimate projects Southbank (West) - South Wharf to add 5,483 residents by 2041. Development is keeping pace with projected growth, but buyers may face increasing competition as the population expands.

Southbank (West) - South Wharf has strong levels of nearby infrastructure activity, ranking in the top 30% nationally

The performance of an area is significantly influenced by changes in local infrastructure, major projects, and planning initiatives. AreaSearch has identified 63 such projects that are expected to impact the area. Notable projects include Melbourne Arts Precinct Transformation - Laak Boorndap Garden, Sento, One Queensbridge, and R.Evolution. The following list details those projects likely to be most relevant.

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.

Southbank (West) - South Wharf ranks among the top 25% of areas assessed nationally for overall employment performance

Southbank West - South Wharf has a highly educated workforce with professional services being strongly represented. The unemployment rate in the area is 2.9%, which is lower than Greater Melbourne's rate of 4.7%.

Over the past year, there has been an estimated employment growth of 5.1% in the area. As of September 2025, 5,906 residents are employed with a workforce participation rate of 74.2%, which is higher than Greater Melbourne's rate of 64.1%. The leading employment industries among residents include professional & technical, finance & insurance, and accommodation & food services. The area has a particular specialization in professional & technical services, with an employment share that is 1.9 times the regional level.

However, health care & social assistance has limited presence in the area, with only 8.5% of employment compared to the regional average of 14.2%. There are 4.5 workers for every resident in the area, indicating that it functions as an employment hub hosting more jobs than residents and attracting workers from surrounding areas. Between September 2024 and September 2025, employment levels in Southbank West - South Wharf increased by 5.1%, while the labour force grew by 5.5%. This resulted in a rise of 0.4 percentage points in the unemployment rate. In comparison, Greater Melbourne recorded employment growth of 3.0% and an increase in unemployment rate of 0.3 percentage points during the same period. Providing broader context, state-level data as of 25-Nov shows that Victoria's employment grew by 1.13% year-on-year, adding 41,950 jobs, with a state unemployment rate of 4.7%. This is compared to the national unemployment rate of 4.3%, with the state's employment growth outpacing the national average of 0.14%. Jobs and Skills Australia's national employment forecasts from May-25 offer further insight into potential future demand within Southbank West - South Wharf. These projections suggest that national employment is forecast to expand by 6.6% over five years and 13.7% over ten years. However, growth rates differ significantly between industry sectors. Applying these industry-specific projections to Southbank West - South Wharf's employment mix suggests that local employment should increase by 7.0% over five years and 14.

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

The Southbank (West) - South Wharf SA2 had median income of $56,359 and average income of $76,249 in financial year 2022, according to latest ATO data aggregated by AreaSearch. This compares to Greater Melbourne's median income of $54,892 and average income of $73,761. Based on Wage Price Index growth of 12.16% since financial year 2022, estimated incomes as of September 2025 would be approximately $63,212 (median) and $85,521 (average). In Census 2021 income data, individual earnings in this area stood at the 92nd percentile nationally ($1,227 weekly). The $1,500 - 2,999 income bracket dominated with 36.6% of residents (3,111 people), similar to surrounding regions where 32.8% occupied this range. High housing costs consumed 17.8% of income, but strong earnings placed disposable income at the 66th percentile nationally. The area's SEIFA income ranking placed it in the 9th decile.

Southbank (West) - South Wharf features a more urban dwelling mix with significant apartment living, with above-average rates of outright home ownership

Southbank (West) - South Wharf's dwelling structure, as per the latest Census, comprised 0.0% houses and 100.0% other dwellings. In comparison, Melbourne metro had 2.2% houses and 97.8% other dwellings. Home ownership in Southbank (West) - South Wharf stood at 16.2%, with mortgaged dwellings at 19.7% and rented ones at 64.1%. The median monthly mortgage repayment was $2,000, higher than Melbourne metro's $1,962. The median weekly rent in Southbank (West) - South Wharf was $430, compared to Melbourne metro's $396. Nationally, Southbank (West) - South Wharf's mortgage repayments were higher at $2,000 versus Australia's average of $1,863, and rents were substantially above the national figure of $375.

Southbank (West) - South Wharf features high concentrations of lone person households and group households, with a fairly typical median household size

Family households constitute 47.0% of all households, including 10.3% couples with children, 30.4% couples without children, and 4.3% single parent families. Non-family households account for the remaining 53.0%, with lone person households at 43.1% and group households comprising 9.7%. The median household size is 1.8 people, aligning with Greater Melbourne's average.

The educational profile of Southbank (West) - South Wharf exceeds national averages, with above-average qualification levels and academic performance metrics

Southbank (West) - South Wharf's educational attainment significantly surpasses broader benchmarks. Among residents aged 15+, 64.5% hold university qualifications, compared to Australia's 30.4% and Victoria's 33.4%. This area has a substantial educational advantage, with bachelor degrees leading at 38.0%, followed by postgraduate qualifications (22.6%) and graduate diplomas (3.9%). Vocational pathways account for 18.4% of qualifications among those aged 15+, including advanced diplomas (10.3%) and certificates (8.1%).

Educational participation is notably high, with 27.9% of residents currently enrolled in formal education. This includes 13.2% in tertiary education, 3.3% in primary education, and 1.6% pursuing secondary education.

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

Transport analysis shows 14 operational stops in Southbank (West) - South Wharf area, offering a mix of light rail and bus services. These stops are served by 11 distinct routes, collectively facilitating 6,025 weekly passenger trips. Transport accessibility is rated excellent, with residents typically located 121 meters from the nearest stop.

Service frequency averages 860 trips daily across all routes, translating to approximately 430 weekly trips per individual stop.

Southbank (West) - South Wharf's residents boast exceedingly positive health performance metrics with very low prevalence of common health conditions across all age groups

Southbank West - South Wharf shows excellent health outcomes, with very low prevalence rates for common conditions across all age groups.

Private health cover is high here, at approximately 58% of the total population (around 4,913 people). Mental health issues and asthma are the most prevalent conditions, affecting 6.0% and 5.5% of residents respectively. A significant majority, 81.4%, report being free from medical ailments, compared to 79.8% in Greater Melbourne overall. The area has a senior population of 7.7% (657 people), with seniors reporting strong health outcomes, largely similar to those of the general population.

Southbank (West) - South Wharf 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 West-South Wharf is one of Australia's most culturally diverse areas, with 50.1% of its residents speaking a language other than English at home and 62.3% born overseas. Christianity is the predominant religion in Southbank West-South Wharf, accounting for 30.8% of the population. However, Buddhism is notably overrepresented compared to Greater Melbourne, making up 6.8% versus 7.0%.

The top three ancestry groups are Other (19.0%), Chinese (17.0%), and English (16.1%). Notably, Korean (1.8%) Spanish (0.9%) and Indian (8.2%) ethnicities are overrepresented compared to regional averages of 1.5%, 0.7% and 5.5% respectively.

Southbank (West) - South Wharf's young demographic places it in the bottom 15% of areas nationwide

Southbank West-South Wharf 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 years. Compared to Greater Melbourne, Southbank West-South Wharf has a higher proportion of residents aged 25-34 (36.9%) but fewer residents aged 5-14 (3.4%). This concentration of 25-34-year-olds is well above the national average of 14.5%. According to post-2021 Census data, the proportion of residents aged 15-24 has increased from 11.0% to 13.7%, while the proportion of those aged 55-64 has decreased from 8.2% to 7.2%. Demographic modeling suggests that Southbank West-South Wharf's age profile will change significantly by 2041, with the strongest projected growth in the 25-34 age group, which is expected to grow by 40%, adding 1,266 residents to reach a total of 4,401.