Southbank (West) - South Wharf
Statistical Area - sa2

Population growth drivers in Southbank (West) - South Wharf are strong compared to national averages 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 November 2025, reflecting an increase of 2,038 people since the 2021 Census which reported a population of 6,463. This growth is inferred from ABS estimated resident population of 7,866 in June 2024 and additional validated new addresses since the Census date. The population density ratio was 10,001 persons per square kilometer, placing it in the top 10% nationally. Growth exceeded national (8.9%) and state averages at 31.5%. Overseas migration contributed approximately 92.2% of overall population gains. AreaSearch uses ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022.

For areas not covered, VIC State Government's Regional/LGA projections from 2023 are used with adjustments made employing weighted aggregation method. Growth rates by age group are applied across all areas for years 2032 to 2041. By 2041, the area is predicted to grow by 6,118 persons based on latest population numbers, recording a gain of 64.5% 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 averaged 158 new dwelling approvals annually over the past five financial years, from FY21 to FY25. A total of 794 homes were approved during this period, with no approvals recorded so far in FY26. The average number of new residents per year per dwelling constructed was 0.2 over these five years.

This indicates that new supply is keeping pace with or exceeding demand, providing ample buyer choice and creating capacity for population growth beyond current forecasts. The average construction cost value of new properties was $414,000. In FY26, commercial development approvals totaled $29.1 million, suggesting robust local business investment. Compared to Greater Melbourne, Southbank West-South Wharf shows 75.0% higher development activity per person, offering buyers greater choice. However, building activity has slowed in recent years.

The focus on attached dwellings creates more affordable entry points and suits downsizers, investors, and first-home buyers. Population forecasts indicate that Southbank West-South Wharf will gain 5,483 residents by 2041. Construction is maintaining a reasonable pace with projected growth, although buyers may encounter growing competition as the population increases.

Southbank (West) - South Wharf has very high levels of nearby infrastructure activity, ranking in the top 10% nationally

Changes in local infrastructure significantly affect an area's performance. AreaSearch has identified 63 projects that could impact this region. Notable initiatives include Melbourne Arts Precinct Transformation - Laak Boorndap Garden, Sento, R.Evolution, and Metro Tunnel Project. Relevant projects are listed below.

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

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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 well represented. As of June 2025, the unemployment rate is 2.9%, down from Greater Melbourne's 4.6%.

Employment growth over the past year was estimated at 6.7%. There are 5,882 residents in work, with a workforce participation rate of 74.2%, higher than Greater Melbourne's 64.1%. Dominant employment sectors include professional & technical, finance & insurance, and accommodation & food. The area specializes in professional & technical jobs, with an employment share 1.9 times the regional level.

Health care & social assistance has limited presence at 8.5%, compared to 14.2% regionally. There are 4.5 workers per resident, indicating it functions as an employment hub attracting workers from surrounding areas. From June 2024 to June 2025, employment levels increased by 6.7% and labour force by 7.2%, causing the unemployment rate to rise by 0.4 percentage points. This compares with Greater Melbourne's employment growth of 3.5%, labour force expansion of 4.0%, and unemployment increase of 0.5 percentage points. Jobs and Skills Australia forecasts national employment growth at 6.6% over five years and 13.7% over ten years, varying by industry sector. Applying these projections to Southbank West-South Wharf's employment mix suggests local growth of approximately 7.0% over five years and 14.0% over ten years.

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

AreaSearch aggregated latest postcode level ATO data released for financial year 2022. Southbank (West) - South Wharf had a median taxpayer income of $56,359 and an average income of $76,249. These figures are higher than the national averages of $54,892 and $73,761 respectively for Greater Melbourne. Based on Wage Price Index growth of 12.16% since financial year 2022, current estimates as of September 2025 would be approximately $63,212 (median) and $85,521 (average). According to the 2021 Census, individual earnings in Southbank (West) - South Wharf stand at the 92nd percentile nationally ($1,227 weekly). Income analysis shows that 36.6% of the population, equating to 3,111 individuals, fall within the $1,500 - 2,999 income range, similar to the surrounding region where this cohort represents 32.8%. High housing costs consume 17.8% of income. Despite this, strong earnings place disposable income at the 66th percentile nationally. The area's SEIFA income ranking places 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, had 0.0% houses and 100.0% other dwellings. This differs from Melbourne metro's 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. Median weekly rent was $430, compared to Melbourne metro's $396. Nationally, Southbank (West) - South Wharf's mortgage repayments were higher at $2,000 versus the Australian average of $1,863, and rents were substantially higher at $430 compared to 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 comprise the remaining 53.0%, with lone person households at 43.1% and group households making up 9.7%. The median household size is 1.8 people, which aligns with the Greater Melbourne 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 residents aged 15+ have higher educational attainment than national and state averages. 64.5% hold university qualifications, compared to 30.4% in Australia and 33.4% in Victoria. Bachelor degrees are most common at 38.0%, followed by postgraduate qualifications (22.6%) and graduate diplomas (3.9%). Vocational pathways account for 18.4%, including advanced diplomas (10.3%) and certificates (8.1%).

Educational participation is 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. Schools are located outside the immediate catchment boundaries, requiring families to access them in neighboring areas.

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

The analysis of public transport in Southbank (West) - South Wharf indicates there are 14 operational stops currently active. These stops offer a combination of lightrail and bus services, with 11 individual routes running through them. The total number of weekly passenger trips facilitated by these routes is 6,025.

Residents enjoy excellent transport accessibility, with an average proximity of 121 meters to the nearest stop. On a daily basis, service frequency across all routes averages 860 trips, which equates 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 of common conditions across all ages.

Private health cover is exceptionally high at approximately 58% (4,913 people). Mental health issues and asthma were the most common conditions, affecting 6.0% and 5.5% respectively. 81.4% reported no medical ailments, compared to 79.8% in Greater Melbourne. The area has 7.7% (657 people) aged 65 and over, with seniors' health outcomes aligning with the general population's profile.

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 as of the latest data from 2016. In this area, 62.3% were born overseas in that same year. Christianity is the predominant religion, making up 30.8% of the population.

However, Buddhism is notably more prevalent here compared to Greater Melbourne, with 6.8% versus 7.0%. The top three ancestry groups based on parents' country of birth are Other (19.0%), Chinese (17.0%), and English (16.1%). There are also notable differences in the representation of certain ethnic groups: Korean is overrepresented at 1.8%, Indian at 8.2%, and Spanish at 0.9%.

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 percentage of residents aged 25-34 (36.9%) but fewer residents aged 5-14 (3.4%). This concentration of 25-34 year-olds is notably higher than 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 percentage of those aged 55-64 has decreased from 8.2% to 7.2%. By 2041, demographic modelling suggests that Southbank (West) - South Wharf's age profile will change significantly. The 25-34 age group is projected to grow by 40%, adding 1,266 residents to reach a total of 4,401.