Ocean Reef

An assessment of population growth drivers in Ocean Reef reveals an overall ranking slightly below national averages considering recent, and medium term trends

According to the latest figures from AreaSearch, the population of Ocean Reef stands at approximately 9,002 as of May 2026. This indicates an expansion of 877 individuals (10.8%) from the 8,125 residents recorded during the 2021 Census. This adjustment is calculated using the ABS estimated resident population of 8,985 in June 2025 alongside 22 validated new addresses registered since the Census. Consequently, the local population density is 1,711 persons per square kilometer, a figure that sits higher than the typical average across evaluated national localities. The growth rate of 10.8% since the 2021 Census outpaced the countrywide average of 9.3%, positioning the suburb as a primary driver of growth in the broader region. This population increase was largely underpinned by net overseas migration, which represented roughly 92.3% of the total demographic gains in recent times.

Projections from the ABS and Geoscience Australia, published in 2024 using 2022 as a baseline, have been adopted by AreaSearch for each SA2 region. For locations lacking this specific data, and to project trends beyond 2032, growth rates classified by age group from the latest ABS Greater Capital Region projections (published in 2023 and utilizing 2022 data) are applied. Looking ahead at future demographic shifts, the suburb is expected to experience population growth exceeding the national median. Based on the most recent annual ERP statistics, the area is projected to add 1,096 residents by 2041, representing a total rise of 12.0% over the 16-year period.

AreaSearch analysis of residential development drivers sees Ocean Reef recording a relatively average level of approval activity when compared to local markets analysed countrywide

Ocean Reef registers an average of approximately 14 residential building approvals annually, with 72 dwellings approved throughout the previous 5 financial years (from FY-21 to FY-25) and 8 recorded so far during FY-26. With an average of 9.7 new residents arriving for every built home over the past 5 financial years (between FY-21 and FY-25), the volume of supply lags demand significantly, which typically intensifies buyer rivalry and drives up prices. Newly constructed dwellings carry a mean estimated construction cost of $445,000, pointing to a strategic focus by developers on upscale projects. Furthermore, commercial approvals totaling $10.9 million have been documented in the current financial year, indicating steady non-residential construction activity.

Building activity per capita in Ocean Reef is roughly half of the rate observed across Greater Perth, placing the suburb in the 20th percentile of all analyzed locations nationwide, which restricts options for buyers and increases demand for existing homes. This volume is also below the countrywide average, reflecting the mature character of the suburb and pointing to possible zoning or planning constraints. Additionally, all recent construction projects have consisted solely of standalone houses, preserving the traditional low-density suburban aesthetic and catering to families prioritizing space. A ratio of approximately 813 people per approved dwelling underscores the established nature of the locality.

According to the latest quarterly estimates from AreaSearch, future population projections indicate that Ocean Reef will add 1,079 residents by 2041. If the current pace of construction persists, the supply of new housing may fail to keep pace with this population growth, potentially intensifying competition among buyers and upward pressure on property values.

Ocean Reef has emerging levels of nearby infrastructure activity, ranking in the 36thth percentile nationally

Local infrastructure projects, major developments, and zoning updates are primary factors influencing local performance. AreaSearch has identified a total of 10 projects likely to impact the local area. Principal projects include the Ocean Reef Primary School Expansion, the Ocean Reef Marina Redevelopment, and the commercial development at 82 Marina Boulevard, with the details of the most significant works listed below.

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The exceptional employment performance in Ocean Reef places it among Australia's strongest labour markets

The local workforce in Ocean Reef is characterized by high levels of education, strong representation in key service industries, an unemployment rate of only 2.2%, and a 3.3% rise in estimated employment over the preceding year. As of March 2026, there are 5,220 employed residents, with the local unemployment rate sitting 2.0% below the Greater Perth average of 4.2%. Participation in the labor force remains generally aligned with the regional benchmark of 70.2%. Data from the Census indicates a modest 11.6% of working residents performed their jobs from home, though this figure should be interpreted with caution due to the influence of pandemic-related restrictions.

Local employment is heavily weighted toward health care & social assistance, construction, and education & training. The construction sector stands out particularly, with employment density measuring 1.4 times the regional average. Conversely, transport, postal & warehousing accounts for only 3.0% of the local workforce, which is lower than the 4.7% seen across Greater Perth. The imbalance between the resident labor force and the local working population suggests that this highly residential suburb offers few jobs within its own boundaries.

An analysis of SALM and ABS statistics by AreaSearch shows that over the 12-month period, employment rose by 3.3% while the labor force expanded by 3.9%, resulting in a 0.5 percentage point increase in the unemployment rate. Over the same timeframe, Greater Perth saw employment grow by 2.0% and the labor force expand by 2.5%, with its unemployment rate rising by 0.4 percentage points. National employment projections released by Jobs and Skills Australia in May-25 offer additional context on future demand trends in Ocean Reef. These five and ten-year projections have been applied to the local workforce structure to model future growth. While total employment across the country is projected to grow by 6.6% over five years and 13.7% over ten years, the rates of expansion vary greatly by sector. Applying these industry trends to the local workforce composition suggests employment in Ocean Reef could grow by 6.4% over five years and 13.4% over ten years, representing a basic weighted projection that does not incorporate local population forecasts.

Income metrics indicate excellent economic conditions, with the area achieving higher performance than 75% of national locations assessed by AreaSearch

AreaSearch data compiled from the latest taxpayer records released by the ATO for the 2023 financial year shows that the Ocean Reef SA2 recorded a median taxpayer income of $61,074 and an average income of $77,590. These figures are high on a national scale and compare to $60,748 and $80,248 across Greater Perth. Factoring in Wage Price Index growth of 10.93% since the 2023 financial year, current estimates would be approximately $67,749 for the median and $86,071 for the average as of March 2026. According to the Census, weekly household incomes are positioned in the 90th percentile at $2,480. Income distribution metrics indicate that 28.7% of the population, or 2,583 taxpayers, earn between $1,500 and $2,999, which is similar to the wider region where 32.0% fall into this bracket. Higher earners represent a large share of the community, with 40.9% earning more than $3,000 per week. After accounting for housing expenses, residents keep 87.8% of their income, and the suburb is positioned in the 8th decile of the SEIFA index for income.

Ocean Reef is characterized by a predominantly suburban housing profile, with above-average rates of outright home ownership

At the time of the latest Census, the housing stock in Ocean Reef consisted of 95.9% standalone houses and 4.2% alternative dwellings such as townhouses, apartments, or other structures, contrasting with the Greater Perth breakdown of 77.8% houses and 22.1% other dwellings. The rate of home ownership was also much higher than the metropolitan average at 42.1%, while 45.7% of homes were mortgaged and 12.2% were rented. The median monthly mortgage payment of $2,253 sat well above the metropolitan benchmark of $1,907, while the median weekly rent was $525, compared to the regional figure of $350. Nationally, the mortgage repayments in Ocean Reef are considerably higher than the Australian average of $1,863, and rents are similarly elevated above the national average of $375.

Ocean Reef features high concentrations of family households, with a higher-than-average median household size

Families make up the vast majority of households at 85.9%, consisting of couples with children at 45.1%, couples without children at 31.8%, and single parents at 8.5%. Non-family households account for the remaining 14.1% of the total, with single-person households representing 12.4% and group households making up 1.8%. The average household size in the suburb is 2.9 people, which exceeds the Greater Perth average of 2.6.

The educational profile of Ocean Reef exceeds national averages, with above-average qualification levels and academic performance metrics

Among residents aged 15 and over in Ocean Reef, 28.9% have completed tertiary education. Bachelor degrees are the most common qualification at 20.5%, followed by postgraduate degrees at 5.7% and graduate diplomas at 2.7%. Vocational qualifications are also prevalent, with 38.0% of residents aged 15 and over holding trade credentials, consisting of advanced diplomas at 13.1% and certificates at 24.9%.

Enrolment rates in education are high, with 29.7% of the population currently undertaking formal studies. Of those studying, 10.2% are in high school, 9.4% are in primary school, and 5.3% are enrolled in tertiary programs.

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

An analysis of public transport options reveals 46 active transit stops in Ocean Reef, which are serviced by a combination of bus routes. These stops accommodate 4 distinct routes that provide a total of 738 weekly passenger trips. Access to public transit is rated as good, with residents living an average of 227 meters from the nearest stop. The suburb is mostly residential, meaning many workers commute to other areas, with private vehicles being the primary mode of travel for 81% of commuters, followed by train travel at 13%. Car ownership averages 2.0 vehicles per household, which is higher than the regional average. A relatively low proportion of residents work from home, recorded at 11.6% in the 2021 Census, which may have been influenced by COVID-19 pandemic conditions.

Across all transit routes, service frequency averages 105 daily trips, which translates to approximately 16 passenger trips per week at each individual transit stop.

Ocean Reef's residents boast exceedingly positive health performance metrics with very low prevalence of common health conditions across all age groups

Ocean Reef registers outstanding health outcomes based on AreaSearch analysis of mortality rates and the occurrence of chronic illnesses. The data indicates a low prevalence of common medical conditions across all age brackets, and the level of private health insurance coverage is high, representing approximately 58% of the population, or about 5,221 individuals.

Arthritis and mental health conditions are the most common medical issues reported, affecting 7.8% and 6.4% of the population respectively. However, 72.9% of residents reported having no chronic medical conditions, compared to 71.9% across Greater Perth. The working-age population is particularly healthy, showing low rates of chronic disease. Residents aged 65 and older make up 20.6% of the population, which equates to 1,854 people, compared to 16.1% in Greater Perth. Seniors in the area exhibit strong health profiles, with national rankings aligning closely with the general population.

The level of cultural diversity witnessed in Ocean Reef was found to be above average when compared nationally for a number of language and cultural background related metrics

Cultural diversity in Ocean Reef is higher than in most other local property markets, with 10.8% of the population speaking a language other than English at home and 44.9% of residents born outside Australia. Christianity is the dominant religion in the suburb, followed by 52.9% of the population, which is higher than the 45.0% recorded across Greater Perth.

In terms of ancestral background, the three largest groups in Ocean Reef are English at 34.6%, which is higher than the metropolitan average of 28.0%, followed by Australian at 19.1%, and Irish at 9.1%. There are also notable differences in the representation of other nationalities compared to the region, with South Australian backgrounds overrepresented at 2.3% of the population (compared to 1.0% regionally), Welsh at 1.1% (compared to 0.7%), and French at 0.9% (compared to 0.5%).

Ocean Reef hosts a notably older demographic compared to the national average

The median age in Ocean Reef is 44, which is older than the Greater Perth average of 37 and the national average of 38. The 55 - 64 age bracket is highly represented at 15.3% of the population compared to Greater Perth, while the 25 - 34 age bracket is lower at 6.8%. Since the 2021 Census, the proportion of residents aged 75 to 84 has increased from 4.4% to 6.5%, and the 15 to 24 group has risen from 13.7% to 15.0%. Conversely, the 45 to 54 cohort fell from 16.0% to 13.9%, and the 25 to 34 cohort declined from 7.8% to 6.8%. Population modeling indicates that Ocean Reef's age distribution will change notably by 2041, led by an 82% increase in the 75 to 84 group, which is projected to grow from 581 to 1,059 people. This aging trend is marked, with residents aged 65 and older accounting for 66% of the projected population growth. Meanwhile, the number of residents in the 0 to 4 and 5 to 14 age cohorts is expected to decline.