Millers Point
At 6,907 residents per square kilometre squeezed into just 0.25 km2, Millers Point is one of the most densely occupied pockets in Sydney, yet only 1,735 people actually live there full time. The suburb sits at the 98th income percentile nationally, with a median house price of $2,300,000, yet 61.2% of residents rent rather than own, well above the national average. That combination, high wealth density alongside a renter majority, is explained by the apartment-dominated stock (79.8%) and a striking 32.2% vacancy rate, the highest single signal in the data. With 66% holding university qualifications, 35.9 percentage points above national, and Professionals plus Managers making up the top two occupation groups, the suburb functions as a walkable, high-turnover residential node at the edge of the CBD.
Population
1,735
Median Age
43.0
Household IncomeiMedian weekly household income (ABS Census)
$3,160/wk
DAs (12 months)iDevelopment Applications lodged in the past year
33
Median House
$2.3M
2024-2025 (PSI derived)
The median house price stands at $2,300,000, and recent price history shows momentum: the median climbed from $2,175,000 in 2024 to $2,442,500 in 2025, a 12.3% rise in one year. Separate houses are almost absent, representing just 1.2% of dwellings, so nearly all buyer competition lands on apartments (79.8%) and semi-detached terraces (18.7%). Two-bedroom dwellings account for 41.0% of stock and three-bedroom units for 24.4%, giving buyers reasonable choice in the mid-range but limited options above four bedrooms (5.2%). Monthly mortgage repayments average $3,900, and the mortgage-to-income ratio sits at 28.5%, below the 30% stress threshold despite elevated prices, because household incomes here rank in the 98th percentile nationally. Outright owners (25.3%) are outnumbered almost 2:1 by renters (61.2%), which tells buyers they are entering a market dominated by short-stay tenants rather than long-term, equity-building residents.
For Buyers
The median house price stands at $2,300,000, and recent price history shows momentum: the median climbed from $2,175,000 in 2024 to $2,442,500 in 2025, a 12.3% rise in one year. Separate houses are almost absent, representing just 1.2% of dwellings, so nearly all buyer competition lands on apartments (79.8%) and semi-detached terraces (18.7%). Two-bedroom dwellings account for 41.0% of stock and three-bedroom units for 24.4%, giving buyers reasonable choice in the mid-range but limited options above four bedrooms (5.2%). Monthly mortgage repayments average $3,900, and the mortgage-to-income ratio sits at 28.5%, below the 30% stress threshold despite elevated prices, because household incomes here rank in the 98th percentile nationally. Outright owners (25.3%) are outnumbered almost 2:1 by renters (61.2%), which tells buyers they are entering a market dominated by short-stay tenants rather than long-term, equity-building residents.
For Investors
With 61.2% of residents renting and weekly rent at $800, Millers Point has a tenant base significantly deeper than the national average. Against a $2,300,000 median, that rent implies a gross yield near 1.8%, modest but above peers like Woollahra. The 32.2% vacancy rate is the critical risk factor: nearly one in three dwellings sits vacant, pointing to investor-held or short-stay stock competing for the same tenant pool. Overseas migration is the strongest demand driver at a net 538 arrivals per year, while internal migration shows a net outflow of 299, so the suburb depends heavily on international population flows to sustain occupancy. Development activity recorded 28 applications in the past 12 months. The price jump from $2,175,000 to $2,442,500 between 2024 and 2025 suggests capital growth remains intact, making this a capital-appreciation rather than yield play.
Development Activity
Total DAs
140
Last 12 Months
33
YoY ChangeiYear-over-year change in DA lodgements
+65.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
The median age of 43 is 3.0 years above the national figure, and the age structure is shifting: the senior share rose 3.0 points and the working-age share fell 1.5 points over the decade. Overseas-born residents account for 48.0% of the population, which is 26.4 percentage points above the national average, making this one of Sydney's more internationally composed suburbs. Ancestry is led by English (533), Irish (264) and Chinese (189), with Scottish (151) and Other (286) rounding out the top five. University qualifications reach 66.0%, a figure 35.9 points above the national rate, concentrated among Professionals (423 workers) and Managers (285). Average household size is 1.9, smaller than the national figure by 0.6, consistent with the high proportion of single-person and couple-without-children households. Couples without children account for 58.8% of all families.
Age Distribution
Bedrooms
Dwelling Structure
1.2%
Houses
18.7%
Townhouse
79.8%
Apartment
Tenure
Tenure is skewed strongly toward renting at 61.2%, compared with outright owners at 25.3% and mortgage holders at just 13.4%, one of the lower mortgage-holder shares for a premium suburb. The stock is 79.8% apartments and 18.7% semi-detached, with separate houses at only 1.2%, making genuine house-style purchases almost impossible within the suburb boundary. Two-bedroom dwellings lead at 41.0%, followed by three-bedroom (24.4%) and studio or one-bedroom (29.4%). The median house price moved from $2,175,000 in 2024 to $2,442,500 in 2025, a 12.3% rise, and the current benchmark sits at $2,300,000. The 32.2% vacancy rate is unusually high and points to significant short-stay or investor-held apartment supply sitting idle rather than a structural housing shortage. Rent-to-income at 25.3% and mortgage-to-income at 28.5% both stay below stress thresholds, despite the suburb's premium positioning.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$3,900
Rent / wk
$800
HH Size
1.9
Personal Income / wk
$1,723
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
32.2%
Unoccupied
394
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
25.3%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
28.5%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
58.8%
Couples, no children
1,075
Total families
Economy & Employment
Professional and finance sectors dominate the local jobs base: Professional/Tech leads at 23.6% (192 workers), Finance follows at 20.7% (168), Healthcare accounts for 8.5% (69), Retail 6.0% (49) and Public Admin 5.4% (44). By occupation, Professionals number 423 and Managers 285, the two highest groups combined representing the majority of employed residents. The unemployment rate sits at 3.6% and the full-time employment rate is 73.7%, above most Sydney suburbs. Weekly personal income averages $1,723 and household income $3,160 per week, at the 98th percentile nationally. SEIFA scores are consistently high: IEO decile 10, IRSAD decile 10 and IRSD decile 8, though the IER decile drops to 1 because the suburb's renter-majority profile depresses aggregate household wealth measures, even as income remains exceptionally high.
Unemployment
3.6%
Labour Force
5,982
Unemployed
217
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
73.7%
Part-time
22.7%
Participation
60.5%
Employed
936
Occupations
Top Industries
University
66.0%
Postgraduate
23.5%
Born Overseas
48.0%
Dwellings
836
Transport to Work
Transport behaviour sets Millers Point apart: 48.3% of residents walk or cycle to work, one of the highest active-transport shares in Australia, reflecting the suburb's location adjacent to the CBD and Barangaroo. Public transport use is 11.1% and car driver mode is 36.8%, well below national car dependency norms. No schools are recorded inside the suburb boundary, so families rely on institutions in neighbouring areas, a practical constraint in a 0.25 km2 footprint. The IRSAD decile of 10 places the suburb in the highest national advantage tier, and 66% of residents hold university qualifications, 35.9 points above national. Only 2.3% of residents (38 people) require daily assistance, low even by inner-city standards. Volunteering participation runs at 16.9%, and the household income percentile at 98 reinforces the picture of a well-resourced, highly mobile residential community.
Drive
36.8%
Public Transport
11.1%
Walk / Cycle
48.3%
Work from Home
N/A
Population Forecast
+0.63%/yr
(+59 people/yr)
EstablishedMillers Point, measured as part of its SA2, shows annual population growth of 0.63%, adding roughly 59 people per year. The 10-year population change is 5.3%, and the SA2 population recovered from a COVID dip of 7.7% (a low of 8,188) back above the pre-COVID level of 8,874, reaching 9,305 in 2025. Medium forecasts project the SA2 reaching around 9,382 by 2031. Overseas migration is the primary growth engine at a net 538 arrivals per year, while internal migration runs at a net outflow of 299 annually, so growth depends on continued international inflows. Gentrification scoring puts the suburb at 24-26, classified as early signs, supported by a 13% population gain since 2011 and real income growth of 8.9%. Rent grew 16.4% over the period measured, reinforcing upward pressure on both rents and prices.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+538
Net Internal / yr
-299
Gentrification Signal
Early signs
Population +13% since 2011, Net internal outflow -299/yr, Strong overseas inflow +538/yr, COVID recovered (-8% dip → full recovery)
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Millers Point compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Millers Point a good suburb to live in?
Millers Point ranks in decile 10 on IRSAD and IEO, the top national advantage tier, with household income in the 98th percentile. University qualifications reach 66%, which is 35.9 points above national. The key practical trade-offs are a $2,300,000 median house price, no schools inside the suburb boundary, and a 32.2% vacancy rate that signals high investor and short-stay apartment activity.
What is the median house price in Millers Point?
The median house price is $2,300,000. Prices rose 12.3% from $2,175,000 in 2024 to $2,442,500 in 2025. Weekly rent averages $800 and monthly mortgage repayments run about $3,900, giving a mortgage-to-income ratio of 28.5%, below the 30% stress threshold.
What schools are in Millers Point?
No schools are recorded inside the 0.25 km2 Millers Point boundary in this dataset, so families rely on schools in neighbouring suburbs. The local population is among the most educated in Australia, with 66% holding university qualifications, which is 35.9 percentage points above the national figure.
Is Millers Point safe?
Detailed crime statistics are not available for Millers Point in this dataset. As an indirect indicator, the suburb scores decile 10 on the IRSAD index of relative advantage and decile 8 on IRSD, both in the high-advantage tier nationally, and only 2.3% of its 1,735 residents need daily assistance, consistent with a low-disadvantage residential profile.
Is Millers Point good for property investment?
Weekly rent of $800 against a $2,300,000 median implies a gross yield near 1.8%, low but above comparable premium suburbs. The 32.2% vacancy rate signals significant apartment oversupply or short-stay competition. Capital growth has been strong, with prices up 12.3% year on year, so the case rests on appreciation rather than yield. Overseas migration adding 538 people per year to the SA2 supports long-term demand.
How is Millers Point's population changing?
The SA2 population grew 5.3% over 10 years and is adding roughly 59 people per year at 0.63% annual growth. Overseas migration at net 538 arrivals per year is the primary driver, while internal migration shows a net outflow of 299 annually. The SA2 has recovered past its pre-COVID level of 8,874, reaching 9,305 in 2025, with medium forecasts projecting 9,382 by 2031.
What languages are spoken in Millers Point?
About 48.0% of residents were born overseas, which is 26.4 percentage points above the national average. English is the dominant language, with Mandarin (36 speakers), Japanese (22), Cantonese (16) and Hindi (12) the most common non-English languages, reflecting the suburb's international profile.
How much development is happening in Millers Point?
There were 28 development applications lodged in the past 12 months. Recent applications include retail premise changes, dwelling house use reclassifications and multi-dwelling housing alterations, consistent with an established, high-density suburb at 6,907 residents per km2 undergoing incremental renewal rather than large-scale new supply.
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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