Caves Beach
With a median house price of $1,325,000, a median age of 49 (9 years above national), and 50.5% of residents owning their home outright, Caves Beach reads as an established coastal enclave where long-term ownership defines the character. At 1,650 people per km2 across 2.43 km2, the suburb is compact but not dense. Separate houses make up 85.6% of the stock, and 50% of dwellings have 4 or more bedrooms, well above what you find in typical suburbs. Household income sits in the 56th percentile nationally, meaning residents are middle-income despite holding high-value property, because most are mortgage-free and held assets during the growth cycle.
Population
4,016
Median Age
49.0
Household IncomeiMedian weekly household income (ABS Census)
$1,628/wk
DAs (12 months)iDevelopment Applications lodged in the past year
35
Median House
$1.3M
2024-2025 (PSI derived)
The median house price reached $1,373,500 in 2025, up from $1,320,000 in 2024, a 4.1% one-year move with a CAGR of 4.1% over the recorded period. The stock heavily favours separate houses at 85.6%, and half of all dwellings have 4 or more bedrooms, so buyers are competing for large family homes rather than smaller units (apartments are only 4.0%). Monthly mortgage repayments average $2,090, and the mortgage-to-income ratio is 29.6%, below the 30% stress threshold. Outright owners at 50.5% far outnumber mortgage holders at 31.1%, which suppresses forced selling and gives the market a stable, low-churn character. At 18.4% renters, the suburb is owner-dominated compared to state and national averages.
For Buyers
The median house price reached $1,373,500 in 2025, up from $1,320,000 in 2024, a 4.1% one-year move with a CAGR of 4.1% over the recorded period. The stock heavily favours separate houses at 85.6%, and half of all dwellings have 4 or more bedrooms, so buyers are competing for large family homes rather than smaller units (apartments are only 4.0%). Monthly mortgage repayments average $2,090, and the mortgage-to-income ratio is 29.6%, below the 30% stress threshold. Outright owners at 50.5% far outnumber mortgage holders at 31.1%, which suppresses forced selling and gives the market a stable, low-churn character. At 18.4% renters, the suburb is owner-dominated compared to state and national averages.
For Investors
The rental market is thin relative to the purchase price. Weekly rent sits at $420, and against a $1,325,000 median, that implies a gross yield near 1.6%, well below Sydney outer-metro benchmarks. The 13.7% vacancy rate is elevated and signals limited rental demand, partly because only 18.4% of residents rent and the suburb has a high owner-occupier base. Net internal migration runs at 124 people per year, which provides steady underlying demand, and 33 development applications were lodged in the past 12 months, mostly modifications and alterations rather than new supply. Rent grew 41.2% over the decade, outpacing real income growth of 22.8%, which compressed affordability for tenants but supported capital values for landlords.
Development Activity
Total DAs
245
Last 12 Months
35
YoY ChangeiYear-over-year change in DA lodgements
-16.7%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Caves Beach iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Caves Beach Public School
K-6 · 349 students
Swansea High School
7-12 · 710 students
Demographics
The median age of 49 sits 9.0 years above the national figure, the strongest signal of an aging resident base. The senior share rose 3.8 points over the decade while the working-age share fell 2.1 points, confirming the aging trajectory. Overseas-born residents are 11.9%, which is 9.7 points below national, reflecting the Anglo-Celtic dominance in ancestry: English (1,725), Irish (496), Scottish (495) and German (176) are the top groups. University qualifications reach 29.2%, roughly in line with national at about 30%. Average household size is 2.6, marginally above national. Couples with children (1,097) and couples without children (1,065) are nearly equal, consistent with a suburb that transitioned from family households toward empty-nesters as residents aged in place.
Age Distribution
Bedrooms
Dwelling Structure
85.6%
Houses
10.4%
Townhouse
4.0%
Apartment
Tenure
Tenure is strongly owner-weighted: 50.5% own outright, 31.1% carry a mortgage, and only 18.4% rent, a split that reflects the older median age of 49 and long holding periods. The outright-owner share at 50.5% is unusually high and explains why the suburb holds value through market cycles. Detached houses dominate at 85.6%, with semi-detached at 10.4% and apartments a minor 4.0%. Half of all dwellings have 4 or more bedrooms, and 37.1% have 3 bedrooms, meaning the stock is large-format family housing. Prices rose from $1,320,000 in 2024 to $1,373,500 in 2025, a 4.1% gain. Mortgage stress is absent: mortgage-to-income at 29.6% and rent-to-income at 25.8% both sit below the 30% threshold.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,090
Rent / wk
$420
HH Size
2.6
Personal Income / wk
$711
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
13.7%
Unoccupied
238
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
25.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
29.6%
Community Profile
Ancestry
Household Composition
32.0%
Couples, no children
3,324
Total families
Economy & Employment
Healthcare leads local employment at 18.9% of workers (224 people), followed by Education at 15.5% (184), Construction at 12.1% (144), Public Admin at 8.5% (101) and Professional/Tech at 8.1% (96). By occupation, Professionals dominate (401), ahead of Community/Personal (246), Managers (221) and Clerical/Admin (207). The participation rate is 49.6%, below state norms, because the aging profile pushes 1,456 residents outside the labour force. The unemployment rate is 5.0%. On SEIFA, the IRSAD decile is 5 and IRSD decile is 5, placing Caves Beach at the national median for advantage and disadvantage. Personal weekly income averages $711, which is moderate and consistent with a workforce split between full-time professionals and part-time or retired residents.
Unemployment
3.7%
Labour Force
6,209
Unemployed
227
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
56.7%
Part-time
38.3%
Participation
49.6%
Employed
1,586
Occupations
Top Industries
University
29.2%
Postgraduate
5.8%
Born Overseas
11.9%
Dwellings
1,494
Transport to Work
Car dependency is high: 91.5% of residents drive to work, and only 0.9% use public transport, which is far below national averages and reflects the coastal, low-density setting without rail access. Walkability and cycling account for 3.6%. The IRSAD decile of 5 places Caves Beach at the national median for socioeconomic advantage and access to resources. Volunteering is 15.3%, above the national rate, a signal of community participation consistent with a stable, long-tenure population where 84.3% of residents stayed at the same address over the five-year period. No schools are recorded in the suburb boundary, so families depend on schools in neighbouring areas such as Swansea and Belmont. The need-assistance rate is 6.8% (265 people), higher than average given the older median age of 49.
Drive
91.5%
Public Transport
0.9%
Walk / Cycle
3.6%
Work from Home
N/A
Population Forecast
+0.94%/yr
(+124 people/yr)
EstablishedPopulation grew 17.1% over the decade to 4,016, above the rate of many established coastal suburbs, and annual growth is running at 0.94%. Medium forecasts project the broader SA2 population reaching around 13,774 by 2031 from 13,147 in 2025. Internal migration is the primary driver at 124 net arrivals per year, supplemented by 61 per year from overseas. The gentrification score is 37 (early signs), with university-graduate share accelerating from 6% to 11% since 2011. Affordability improved from 56.2% in 2011 to 52.5% in 2021. Rent growth of 41.2% over the decade exceeded real income growth of 22.8%, meaning rental returns strengthened faster than wages, supporting capital values for landlords even as the owner base aged.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Internal Migration
Net Overseas / yr
+61
Net Internal / yr
+124
Gentrification Signal
Early signs
Population +18% since 2011, Net internal migration +124/yr, Accelerating: 6% → 11%
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Caves Beach compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Caves Beach a good suburb to live in?
Caves Beach suits established owner-occupiers and sea-change buyers more than first-home buyers. With 50.5% of residents owning outright, a median age of 49 (9 years above national) and 84.3% staying at the same address over 5 years, it is a low-turnover, settled community. The IRSAD decile is 5, placing it at the national median for socioeconomic advantage.
What is the median house price in Caves Beach?
The median house price reached $1,373,500 in 2025, up 4.1% from $1,320,000 in 2024. Monthly mortgage repayments average $2,090 and the mortgage-to-income ratio is 29.6%, just below the 30% stress threshold. Weekly rent averages $420.
What schools are in Caves Beach?
No schools are recorded inside the Caves Beach suburb boundary in this dataset. With a 2.43 km2 footprint and population of 4,016, the suburb is small, and families rely on schools in nearby areas such as Swansea and Belmont. Locally, 29.2% of residents hold university qualifications.
Is Caves Beach safe?
Detailed crime statistics are not available for Caves Beach in this dataset. As an indirect measure, the suburb scores decile 5 on both IRSAD and IRSD, at the national median for advantage and disadvantage. The low turnover rate (84.3% stayed) and 15.3% volunteering rate suggest a stable, socially cohesive community.
Is Caves Beach good for property investment?
The investment case is capital-growth focused rather than yield-driven. Weekly rent of $420 against a $1,325,000 median implies a gross yield near 1.6%, low by national standards, and the vacancy rate is elevated at 13.7%. However, price grew 4.1% in one year and rent grew 41.2% over the decade. Internal migration of 124 per year supports long-run demand.
How is Caves Beach's population changing?
The suburb's population is 4,016 and growing at 0.94% annually. Over the decade the population rose 17.1%, driven mainly by net internal migration of 124 people per year. The age profile is shifting older: the senior share rose 3.8 points and the working-age share fell 2.1 points over the same period, reflecting residents aging in place.
How much development activity is happening in Caves Beach?
There were 33 development applications lodged in the past 12 months, mostly dwelling modifications and alterations. This is consistent with an established, owner-occupied suburb where 50.5% own outright and residents invest in improving existing homes rather than building new ones. New supply is very limited given the suburb's 2.43 km2 footprint.
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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