Banksia
At $1,718,000 median house price packed into just 0.96 km2, Banksia is one of the denser premium pockets south of Sydney CBD, with a population density of 3,425 people per km2. What stands out is the combination: household income sits at the 75.5th percentile nationally, yet 45.2% of residents were born overseas, which is 23.6 percentage points above the national figure. University qualifications reach 44.2%, running 14.1 points above national average. The suburb skews toward settled, long-term residents with 84.9% having stayed in place over the census year, and 39.2% owning their home outright, a sign of established, debt-light households rather than a transient population.
Population
3,277
Median Age
41.0
Household IncomeiMedian weekly household income (ABS Census)
$2,018/wk
DAs (12 months)iDevelopment Applications lodged in the past year
32
Median House
$1.7M
2024-2025 (PSI derived)
The median house price of $1,718,000 puts Banksia firmly in Sydney's premium tier, supported by a 2.3% price rise from $1,685,500 in 2024 to $1,725,000 in 2025. Stock is heavily detached, with 77.8% separate houses and only 11.0% apartments, so buyers get more space than typical inner-ring markets. Three-bedroom homes dominate at 47.8%, with 4-plus bedroom dwellings at 26.3%, catering to families. Monthly mortgage repayments average $2,500, producing a mortgage-to-income ratio of 28.6%, just below the 30% stress threshold relative to household income at the 75.5th percentile nationally. Only 23.1% of dwellings are rented, lower than the Sydney average, meaning most residents are committed owner-occupiers, which tends to stabilise the market against volatility.
For Buyers
The median house price of $1,718,000 puts Banksia firmly in Sydney's premium tier, supported by a 2.3% price rise from $1,685,500 in 2024 to $1,725,000 in 2025. Stock is heavily detached, with 77.8% separate houses and only 11.0% apartments, so buyers get more space than typical inner-ring markets. Three-bedroom homes dominate at 47.8%, with 4-plus bedroom dwellings at 26.3%, catering to families. Monthly mortgage repayments average $2,500, producing a mortgage-to-income ratio of 28.6%, just below the 30% stress threshold relative to household income at the 75.5th percentile nationally. Only 23.1% of dwellings are rented, lower than the Sydney average, meaning most residents are committed owner-occupiers, which tends to stabilise the market against volatility.
For Investors
With 23.1% of dwellings rented and weekly rent at $500, Banksia's tenant pool is modest but the fundamentals are shifting. Against the $1,718,000 median, the gross yield sits near 1.5%, low but in line with comparable detached-house suburbs in the St George corridor. The 5.1% vacancy rate is elevated compared to tight Sydney rental markets, suggesting limited near-term rental upside. However, migration trends support medium-term demand: net overseas migration drives 1,036 arrivals a year into the broader SA2 area, compared to net internal outflow of 380, and the population grew 8.3% over the decade. Development activity in 2025 shows 30 applications over 12 months, including dual-occupancy projects, indicating landowners are already testing gentle densification. Rent grew 15.0% over the period, above income growth of 21.7%, supporting the income-to-rent trajectory.
Development Activity
Total DAs
137
Last 12 Months
32
YoY ChangeiYear-over-year change in DA lodgements
+45.5%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
The median age is 41, matching the national average almost exactly, yet the demographic composition is more international than the age figure suggests. Overseas-born residents reach 45.2%, which is 23.6 percentage points above the national figure, making Banksia one of the more migrant-heavy suburbs in the St George area. The top ancestries are English (512), Macedonian (378) and Chinese (354), with Macedonian language spoken by 158 residents and Arabic by 120, reflecting the suburb's southern-European and Middle-Eastern settlement history. Average household size is 2.8, which is 0.3 above national, consistent with the prevalence of couples-with-children households at 1,039 of 2,708 families. University qualifications at 44.2% run 14.1 points higher than national.
Age Distribution
Bedrooms
Dwelling Structure
77.8%
Houses
8.9%
Townhouse
11.0%
Apartment
Tenure
Tenure splits clearly toward ownership: 39.2% own outright, 37.7% carry a mortgage, and only 23.1% rent, skewed toward settled households compared to broader Sydney. The stock is dominated by separate houses at 77.8%, with semi-detached at 8.9% and apartments at 11.0%, making Banksia far less apartment-heavy than many comparable-distance suburbs. Three-bedroom homes account for 47.8% of the stock and 4-plus bedroom dwellings for 26.3%, reinforcing the family-oriented profile. The median house price moved from $1,685,500 in 2024 to $1,725,000 in 2025, a 2.3% gain. Rent-to-income at 24.8% stays below the 30% stress threshold, and mortgage-to-income at 28.6% is similarly contained, meaning the suburb is premium-priced but not financially stretched for those already in it.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,500
Rent / wk
$500
HH Size
2.8
Personal Income / wk
$763
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
5.1%
Unoccupied
59
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
24.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
28.6%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
22.7%
Couples, no children
2,708
Total families
Economy & Employment
The top industries by employment are Healthcare at 14.4% (146 workers), Professional/Tech at 12.4% (126), Public Admin at 9.6% (97), Education at 8.9% (90), and Construction at 8.8% (89). By occupation, Professionals lead at 360 workers, followed by Clerical/Admin (231) and Managers (214), a profile that aligns with the SEIFA IEO decile 7 score for education and occupation advantage. The unemployment rate is 7.2%, which is above the metropolitan norm, though the participation rate of 51.7% is low partly because 1,031 residents are not in the labour force, many likely retired homeowners among the 39.2% who own outright. Real income grew 21.7% over the decade. The IRSD decile sits at 4, indicating below-median advantage by deprivation measures nationally, a contrast with the IEO decile 7, because the suburb's wealth is concentrated in property rather than broad income.
Unemployment
2.3%
Labour Force
15,729
Unemployed
356
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
66.7%
Part-time
26.1%
Participation
51.7%
Employed
1,303
Occupations
Top Industries
University
44.2%
Postgraduate
10.8%
Born Overseas
45.2%
Dwellings
1,101
Transport to Work
Car reliance is high at 76.7% of workers driving, compared to 13.6% using public transport, which is moderate for a suburb this close to Sydney CBD. Walking and cycling account for just 3.0%. No schools are recorded within the 0.96 km2 boundary in the dataset, so families rely on institutions in neighbouring suburbs. The IRSAD decile of 6 places Banksia slightly above the national midpoint on combined advantage and disadvantage, while the IEO decile 7 reflects above-average education and occupation outcomes. The volunteering rate of 9.4% is modest. Housing stress is contained, with rent-to-income at 24.8% and mortgage-to-income at 28.6%, both below the 30% threshold. The 5.1% vacancy rate is slightly elevated, which may reflect some speculative landholding ahead of the gentle densification activity visible in recent development applications.
Drive
76.7%
Public Transport
13.6%
Walk / Cycle
3.0%
Work from Home
N/A
Population Forecast
+0.97%/yr
(+225 people/yr)
EstablishedThe broader SA2 population reached 22,588 in 2024 and 23,103 in 2025, and is projected to grow to 23,709 by 2031 under the medium scenario, an annual pace of about 225 people or 0.97%. The 10-year population change was 8.3%, and the post-COVID recovery is complete after a 4.7% dip, with the current figure 12.9% above the COVID low. Net overseas migration is the only meaningful growth driver at 1,036 arrivals per year, offsetting net internal outflow of 380, a pattern common to established inner-ring suburbs that attract new Australians while longer-term residents move to outer areas. The gentrification score of 26 places the suburb in the early-signs stage, with signals including a population rise of 18% since 2011, though affordability has tightened from 75.3% to 57.9% between 2011 and 2021.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+1,036
Net Internal / yr
-380
Gentrification Signal
Early signs
Population +18% since 2011, Net internal outflow -380/yr, Strong overseas inflow +1036/yr, COVID recovered (-5% dip → full recovery)
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Banksia compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Banksia a good suburb to live in?
Banksia scores IEO decile 7 for education and occupation advantage nationally, with 44.2% university qualifications, 14.1 points above the national figure. Household income sits at the 75.5th percentile. The median house price of $1,718,000 is the main barrier to entry, and mortgage-to-income at 28.6% is manageable relative to those incomes.
What is the median house price in Banksia?
The median house price is $1,718,000 as of 2024-2025, up 2.3% from $1,685,500 in 2024. Weekly rent averages $500 and monthly mortgage repayments run about $2,500, with a mortgage-to-income ratio of 28.6%, which sits just below the 30% stress threshold.
What schools are in Banksia?
No schools are recorded inside the 0.96 km2 Banksia boundary in this dataset. Families rely on schools in neighbouring suburbs. Despite that, 44.2% of residents hold university qualifications, which is 14.1 percentage points above the national average, reflecting a highly educated resident base.
Is Banksia safe?
Crime statistics are not available for Banksia in this dataset. As an indirect indicator, the suburb scores IRSAD decile 6, above the national midpoint on relative advantage and disadvantage, and 7.0% of residents (220 people) need daily assistance, broadly consistent with a mid-tier disadvantage profile rather than a high-crime area.
Is Banksia good for property investment?
Weekly rent of $500 against a $1,718,000 median implies a gross yield near 1.5%, low by broad market standards. The 5.1% vacancy rate is slightly elevated. However, rent grew 15.0% over the period, net overseas migration adds 1,036 arrivals a year into the area, and the 10-year population change was 8.3%, providing medium-term demand support.
How is Banksia's population changing?
Population in the broader area grew 8.3% over the decade, reaching 22,588 in 2024, and is projected to reach 23,709 by 2031 at 0.97% per year. Net overseas migration of 1,036 per year drives almost all growth, offsetting net internal outflow of 380. The suburb recovered fully from a 4.7% COVID-era dip.
What languages are spoken in Banksia?
About 45.2% of residents were born overseas, which is 23.6 percentage points above the national figure. Macedonian is the most common non-English language at 158 speakers, followed by Arabic (120), Cantonese (72), Greek (67) and Mandarin (41), reflecting a southern-European and Middle-Eastern settlement history.
How much development is happening in Banksia?
There were 30 development applications lodged in the past 12 months, including dual-occupancy and dwelling-house projects. Recent applications include a dual-occupancy detached submission in April 2026, suggesting landowners are testing densification in a suburb where 77.8% of stock is separate houses and the median price is $1,718,000.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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