Double Bay
A $2,840,000 median house price sitting alongside a 15.8% vacancy rate is the contradiction that defines this harbourside pocket, and the two are linked. Household income reaches the 97.6th percentile nationally, and the suburb scores decile 10 on IRSAD, IEO and IRSD, the top advantage tier on three of the four SEIFA indexes. The high vacancy reflects an apartment-heavy stock, 76.7% of all dwellings, packed into a 0.79 km2 footprint where 44.7% of residents rent. University qualifications hit 68.9%, which is 38.8 points above the national figure, and at a median age of 39 the population runs slightly younger than the rest of Woollahra council's eastern suburbs.
Population
4,709
Median Age
39.0
Household IncomeiMedian weekly household income (ABS Census)
$3,077/wk
DAs (12 months)iDevelopment Applications lodged in the past year
149
Median House
$2.8M
2024-2025 (PSI derived)
The $2,840,000 median places Double Bay among Sydney's dearest markets, and recorded medians climbed from $2,500,000 in 2024 to $3,250,000 in 2025. The stock is unusual: separate houses are just 13.4% of dwellings while apartments make up 76.7% and semi-detached terraces 8.9%, so buying a freestanding house means competing for scarce supply. Two-bedroom dwellings dominate at 48.2% and three-bedroom at 31.4%, with 4-plus bedroom homes only 11.8%. Monthly mortgage repayments average $3,000, giving a mortgage-to-income ratio of 22.5%, well below the 30% stress threshold because incomes sit in the 97.6th percentile. Outright owners at 35.2% outnumber mortgage holders at 20.1%, a sign the housing is largely held by established, debt-free owners rather than recent entrants.
For Buyers
The $2,840,000 median places Double Bay among Sydney's dearest markets, and recorded medians climbed from $2,500,000 in 2024 to $3,250,000 in 2025. The stock is unusual: separate houses are just 13.4% of dwellings while apartments make up 76.7% and semi-detached terraces 8.9%, so buying a freestanding house means competing for scarce supply. Two-bedroom dwellings dominate at 48.2% and three-bedroom at 31.4%, with 4-plus bedroom homes only 11.8%. Monthly mortgage repayments average $3,000, giving a mortgage-to-income ratio of 22.5%, well below the 30% stress threshold because incomes sit in the 97.6th percentile. Outright owners at 35.2% outnumber mortgage holders at 20.1%, a sign the housing is largely held by established, debt-free owners rather than recent entrants.
For Investors
A 44.7% renter share and weekly rent of $720 give landlords a deep tenant pool, but the maths favours caution. Against the $2,840,000 median, that rent implies a gross yield near 1.3%, very low even by inner-Sydney standards. The 15.8% vacancy rate signals real oversupply in the apartment segment, which is 76.7% of dwellings. Demand support is split: net overseas migration adds 234 residents a year while internal migration removes 217, leaving thin natural growth. Development activity is high at 138 applications in 12 months, mostly alterations, pools and modifications rather than new supply. With annual population change at -0.07% and rent growth of 25.2% over the decade, the case here rests on capital preservation and rent escalation more than yield or transaction volume.
Development Activity
Total DAs
615
Last 12 Months
149
YoY ChangeiYear-over-year change in DA lodgements
+13.7%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Double Bay iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Double Bay Public School
K-6 · 237 students
Demographics
The median age of 39 is 1.0 year below the national figure, younger than most decile 10 suburbs, yet the decade trajectory is still aging: the senior share rose 3.4 points while the working-age share fell 3.3 points. Overseas-born residents reach 36.8%, which is 15.2 points above national. Ancestry leans Anglo-Celtic, led by English (1,512), Irish (632) and Scottish (434), with Chinese (275) the largest non-European group. The top non-English languages are Mandarin (47), French (28) and Cantonese (26). University qualifications at 68.9% run 38.8 points above national, among the highest anywhere. Average household size is 2.1, which is 0.4 below national, consistent with a couples-without-children profile that makes up 40.3% of families. Judaism, at 653 residents, is a notable second religion behind Christianity (1,850).
Age Distribution
Bedrooms
Dwelling Structure
13.4%
Houses
8.9%
Townhouse
76.7%
Apartment
Tenure
Tenure splits into three uneven blocks: 35.2% own outright, 20.1% carry a mortgage and 44.7% rent. Outright owners outnumbering mortgage holders nearly two to one points to long-held, debt-free wealth rather than a churn of new buyers. The stock is 76.7% apartments and 8.9% semi-detached, leaving separate houses at only 13.4%, which keeps detached-house prices elevated through scarcity. Two-bedroom dwellings account for 48.2% and three-bedroom 31.4%, while 4-plus bedroom homes are just 11.8%. Recorded medians rose from $2,500,000 in 2024 to $3,250,000 in 2025, a 30.0% one-year move, lifting the headline median to $2,840,000. Mortgage-to-income at 22.5% and rent-to-income at 23.4% both stay below the stress threshold, a comfort that reflects how far the 97.6th-percentile incomes outrun even these prices.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$3,000
Rent / wk
$720
HH Size
2.1
Personal Income / wk
$1,662
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
15.8%
Unoccupied
399
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
23.4%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
22.5%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
40.3%
Couples, no children
3,129
Total families
Economy & Employment
The local workforce is concentrated in high-paying knowledge sectors: Professional/Tech leads at 25.2% (537 workers), Finance follows at 17.0% (363) and Healthcare at 10.8% (230), with Education at 6.2% and Real Estate at 5.7%. By occupation, Professionals (1,190) and Managers (638) account for the bulk of jobs, which aligns with the decile 10 IEO score for education and occupation. Unemployment is low at 3.7% and the full-time employment rate is 74.1%. Participation reads 60.4%, below what the income would suggest, because 1,209 residents are not in the labour force. One anomaly stands out: the IER score for economic resources sits at decile 5 against decile 10 on the other three indexes, because the 44.7% renter base depresses the aggregate household-wealth measures that index tracks.
Unemployment
2.5%
Labour Force
6,642
Unemployed
166
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
74.1%
Part-time
22.2%
Participation
60.4%
Employed
2,400
Occupations
Top Industries
University
68.9%
Postgraduate
20.3%
Born Overseas
36.8%
Dwellings
2,129
Transport to Work
Active and public transport are well used for a harbourside suburb: 22.3% walk or cycle and 9.2% take public transport, while 62.2% drive, below the national reliance on cars and helped by the compact 0.79 km2 layout. The suburb earns decile 10 on IRSAD, the top advantage tier nationally, and decile 10 on IRSD for relative disadvantage, meaning very few residents face deprivation. Volunteering runs at 17.3% and only 2.8% of residents, about 124 people, need daily assistance despite the older couples-heavy profile. Rent-to-income at 23.4% keeps tenants comfortable relative to incomes. No schools are recorded inside the boundary in this dataset, so families rely on institutions in neighbouring suburbs, a practical trade-off for a high-density setting at 5,939 residents per km2.
Drive
62.2%
Public Transport
9.2%
Walk / Cycle
22.3%
Work from Home
N/A
Population Forecast
-0.07%/yr
(-7 people/yr)
EstablishedDouble Bay is effectively flat: annual population change registers -0.07%, roughly 7 fewer residents a year, against a 10-year rise of just 3.4%, classifying it as an established, slow-growth suburb. The wider area population of 10,265 has still not recovered to the pre-COVID 10,605, sitting only 2.1% above the COVID low after a 5.2% dip. Medium forecasts ease the population from 10,311 to 10,274 by 2031, so contraction rather than expansion is expected. Overseas migration of 234 a year is the only positive driver, offset by net internal outflow of 217. The gentrification stage reads not gentrifying, which fits a suburb already at decile 10 advantage with no room to climb. Affordability improved from 46.6% in 2011 to 42.6% in 2021, though it stays high relative to most markets.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+234
Net Internal / yr
-217
Gentrification Signal
Not gentrifying
Net internal outflow -217/yr, Strong overseas inflow +234/yr
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Double Bay compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Double Bay a good suburb to live in?
Double Bay ranks in decile 10 on IRSAD, IEO and IRSD, the top advantage tier nationally, with household income in the 97.6th percentile. University qualifications reach 68.9%, which is 38.8 points above national. The main trade-offs are a high $2,840,000 median house price and a 15.8% apartment vacancy rate.
What is the median house price in Double Bay?
The median house price is $2,840,000, among Sydney's highest. Recorded medians rose from $2,500,000 in 2024 to $3,250,000 in 2025. Weekly rent averages $720 and monthly mortgage repayments run about $3,000, giving a mortgage-to-income ratio of 22.5%, below the stress threshold.
What schools are in Double Bay?
No schools are recorded inside the 0.79 km2 Double Bay boundary in this dataset, so families rely on schools in neighbouring suburbs. The local population is highly educated, with university qualifications at 68.9%, which is 38.8 points above the national figure.
Is Double Bay safe?
Detailed crime statistics are not available for Double Bay in this dataset. As an indirect indicator, the suburb scores decile 10 on the IRSD index of relative disadvantage, the highest tier, and only 2.8% of residents, about 124 people, need daily assistance, both consistent with a low-disadvantage area.
Is Double Bay good for property investment?
Rent of $720 a week against a $2,840,000 median gives a gross yield near 1.3%, very low, and the 15.8% vacancy rate signals apartment oversupply. Net overseas migration of 234 a year supports demand, but -0.07% population change means returns depend on capital growth rather than yield.
How is Double Bay's population changing?
Population change runs at -0.07% annually, about 7 fewer residents a year, with a 3.4% rise over 10 years. The wider area remains below the pre-COVID 10,605 after a 5.2% dip. The profile is aging, with the senior share up 3.4 points and the working-age share down 3.3 points.
What languages are spoken in Double Bay?
About 36.8% of residents were born overseas, 15.2 points above the national figure. English dominates, while Mandarin (47 speakers), French (28), Cantonese (26), Greek (18) and Russian (18) are the most common non-English languages, reflecting a small but international resident mix.
How much development is happening in Double Bay?
There were 138 development applications lodged in the past 12 months, high for a 0.79 km2 suburb. Most are alterations, pool installations and modifications to existing dwellings rather than new supply, consistent with an established, slow-growth area at -0.07% annual population change.
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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