Neutral Bay
Apartment living defines Neutral Bay more than detached housing: 80.6% of dwellings are apartments, density reaches 7,953 people per sq km, and 52.8% of residents rent. The 10,090-person suburb also has a high-income profile, with household income at the 91.5th percentile, while 39.3% of residents were born overseas. Compared with nearby Cremorne and Kirribilli, Neutral Bay's defining contrast is its compact, renter-oriented housing profile. A 13.2% vacancy rate creates more choice for tenants but can soften landlord pricing power. Its median age of 38 is 2 years below the national figure, although the longer-term trajectory is ageing.
Population
10,090
Median Age
38.0
Household IncomeiMedian weekly household income (ABS Census)
$2,443/wk
DAs (12 months)iDevelopment Applications lodged in the past year
79
Neutral Bay suits buyers who prioritise location, low-maintenance living and access to smaller dwellings over a backyard. Apartments account for 80.6% of homes, while separate houses are only 8.3%, so apartment stock is higher than detached stock by a wide margin. Two-bedroom homes make up 43.3% and 0-1 bedroom homes 25.6%, concentrating choice around singles, couples and downsizers. The monthly mortgage benchmark is $2,895, with mortgage costs at 27.4% of household income and mortgage stress not flagged. Buyers should compare strata levies, parking, outlook and building condition because these can matter more than suburb-wide averages in a dense market.
For Buyers
Neutral Bay suits buyers who prioritise location, low-maintenance living and access to smaller dwellings over a backyard. Apartments account for 80.6% of homes, while separate houses are only 8.3%, so apartment stock is higher than detached stock by a wide margin. Two-bedroom homes make up 43.3% and 0-1 bedroom homes 25.6%, concentrating choice around singles, couples and downsizers. The monthly mortgage benchmark is $2,895, with mortgage costs at 27.4% of household income and mortgage stress not flagged. Buyers should compare strata levies, parking, outlook and building condition because these can matter more than suburb-wide averages in a dense market.
For Investors
Neutral Bay has a renter majority, with 52.8% renting compared with 24.4% owning outright, and weekly rent of $550. That supports a broad tenant pool, especially across the 43.3% two-bedroom and 25.6% 0-1 bedroom stock. The caution is a 13.2% vacancy rate, which is higher than a tight rental setting and can increase letting time or negotiation pressure. Development activity is material at 76 applications over 12 months, including alterations and a boarding-house application, so building-specific competition deserves review. Overseas migration is the primary growth driver, but the 0.07% annual trend is slow, making cash flow, strata costs and vacancy resilience more important than assuming rapid capital growth.
Development Activity
Total DAs
429
Last 12 Months
79
YoY ChangeiYear-over-year change in DA lodgements
+19.7%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Neutral Bay
Open-register school locations for education access. This is not a school-quality ranking.
Demographics
Neutral Bay combines an educated, international population with relatively small households. University attainment is 64.0%, which is 33.9 percentage points above the national comparison, while 39.3% were born overseas, 17.7 points above national. The median age is 38, 2 years below national, but household size averages 2.0 people, 0.5 below national, helping explain the strong fit for apartments and the 51.1% share of couples without children. English, Irish and Scottish are the largest recorded ancestries at 3,539, 1,320 and 1,111 people, followed by Chinese at 850. No religion is recorded for 4,619 people, above Christianity at 4,043. Compared with nearby family-oriented pockets, Neutral Bay's smaller households and professional profile support a more adult, mobile daily rhythm.
Age Distribution
Bedrooms
Dwelling Structure
8.3%
Houses
10.9%
Townhouse
80.6%
Apartment
Tenure
Neutral Bay's housing is apartment-led and compact. Apartments represent 80.6% of dwellings, versus 8.3% separate houses and 10.9% semi-detached homes; 43.3% of stock has 2 bedrooms, while only 6.3% has 4 or more. Renting is the dominant tenure at 52.8%, higher than outright ownership at 24.4% and mortgages at 21.6%. The 13.2% vacancy rate gives renters more choice than in a tightly held market, while weekly rent of $550 needs to be tested against the 22.5% rent-to-income ratio. Mortgage costs sit at 27.4% of income and mortgage stress is not flagged, suggesting many borrowers retain capacity. Compared with detached-house suburbs, the trade-off is less private land but more centralised apartment supply and smaller floorplans.
Mortgage / mo
$2,895
Rent / wkiMedian weekly rent for new bonds (April to June 2026), NSW Rental Bond Board (DCJ). Census 2021 median: $550.
$830
Bond data Jun 2026 · houses $1,050 · units $805
HH Size
2.0
Personal Income / wk
$1,552
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
13.2%
Unoccupied
719
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
22.5%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
27.4%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
33.3%
Couples with children
51.1%
Couples, no children
13.5%
Single parent
2,583
Total families
Economy & Employment
Neutral Bay's economy is weighted to high-skill services: Professional/Tech accounts for 23.6% of workers, Finance 14.2%, Healthcare 12.4%, Education 8.0% and Public Administration 5.2%. The occupation mix reinforces that pattern, led by 2,585 Professionals and 1,369 Managers, while 701 work in Clerical/Admin. Labour participation is 72.0%, unemployment 3.7% and full-time employment 70.1%, supporting household income of $2,443 a week at the 91.5th percentile nationally. SEIFA is uneven: education and occupation sit in decile 10, IRSAD also reaches decile 10 and IRSD is decile 9, but economic resources rank only in decile 3. That gap is lower than the other local rankings and points to strong credentials alongside less uniformly distributed resources. Compared with the national income distribution, the suburb is materially more affluent.
Unemployment
3.7%
Labour Force
6,303
Unemployed
236
Source: ABS Census 2021
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
70.1%
Part-time
22.2%
Participation
72.0%
Employed
6,067
Full-time and part-time are shares of the employed. Source: ABS Census 2021
Occupations
Top Industries
University
64.0%
Postgraduate
19.5%
Born Overseas
39.3%
Dwellings
4,707
Transport to Work
Neutral Bay's livability case rests on density, work-from-home capacity and local services rather than private-car dependence. Work from home is reported at 67.1%, compared with 20.8% driving, 5.0% public transport and 5.8% walking or cycling, so daily convenience can matter more than a long commute. One named local school, Neutral Bay Public School, provides government primary access; families should check enrolment boundaries and secondary options against the exact address. Socioeconomic access is strong overall, with IRSAD in decile 10, IRSD in decile 9 and IEO in decile 10, each higher than the IER decile 3 result. A suburb-wide crime rate is not available, so safety decisions should use current incident mapping, street visits and building-level checks. Compared with lower-density suburbs, apartment maintenance, noise and parking deserve closer attention.
Drive
20.8%
Public Transport
5.0%
Walk / Cycle
5.8%
Work from Home
67.1%
Population Forecast
+0.07%/yr
(+13 people/yr)
EstablishedNeutral Bay is an established, slow-growth suburb rather than a rapid-expansion market. The annual trend is 0.07%, while population change across the wider area is 2.8% over 10 years. Overseas migration is the primary growth driver, but the shift trajectory is Aging: the senior share is up 4.7 percentage points and the working share is down 6.4 points. Gentrification signals are mixed, with a score of 20 labelled Early signs, while the shift measure records 4 and is labelled Not gentrifying. The suburb recovered from a 6.2% COVID dip, with 5.0% recovery recorded, so resilience is clearer than acceleration. Compared with a high-growth development corridor, the outlook is more about gradual turnover, international arrivals and adaptation to older households than a large population surge.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+489
Net Internal / yr
-299
Gentrification Signal
Early signs
Net internal outflow -299/yr, Strong overseas inflow +489/yr, COVID recovered (-6% dip → full recovery)
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Neutral Bay compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Neutral Bay a good suburb to live in?
Neutral Bay can suit buyers and renters who prefer apartment convenience, central services and a professional setting. It has 10,090 residents, a median age of 38 and 80.6% apartments, while 67.1% work from home. Compared with detached-house suburbs, it provides less private land but more compact housing choice; check noise, parking and strata details before committing.
What is the median house price in Neutral Bay?
Check recent settled sales for the exact bedroom count and property type rather than relying on one headline figure. Neutral Bay is 80.6% apartments and only 8.3% separate houses, while 43.3% of homes have 2 bedrooms. Add strata, parking and maintenance costs when comparing properties because these can materially change the purchase budget.
What schools are in Neutral Bay?
Neutral Bay Public School is the named local option: 1 government primary school. Confirm the current enrolment zone against the exact address and investigate secondary options separately, because school catchments can cross suburb boundaries. Apartment households average 2.0 people, so local schooling is only one part of a broader family-planning decision.
Is Neutral Bay safe?
Use current NSW Police incident mapping and inspect the street at different times before deciding. A suburb-wide crime rate is not available, and the 2.3% need-assistance rate or decile 10 IRSAD score should not be treated as crime measures. Also check apartment entry, lighting and parking, particularly in a high-density area with 7,953 people per sq km.
Is Neutral Bay good for property investment?
Neutral Bay can suit investors targeting apartments and renters, but the settings call for selectivity. Renting is 52.8%, weekly rent is $550 and vacancy is 13.2%, higher than a tight rental market. There were 76 development applications in 12 months, while annual growth is only 0.07%. Compare strata costs, building quality and vacancy history because renter depth supports demand, but new or refurbished supply can increase competition.
How is Neutral Bay's population changing?
Neutral Bay is changing slowly rather than expanding rapidly. The annual trend is 0.07%, and population change across the wider area is 2.8% over 10 years. Overseas migration is the primary driver, while the trajectory is Aging: the senior share rose 4.7 percentage points and the working share fell 6.4 points. Plan for gradual turnover and services suited to older households, not a sudden population surge.
What languages are spoken in Neutral Bay?
Recorded language groups include Mandarin at 143 people, Canton at 78, Japan at 56, French at 47 and Nepali at 40. With 39.3% of residents born overseas, multilingual services and clear tenancy or strata communication can be useful. Compare the exact building's resident mix rather than assuming the whole suburb is uniform.
What development is occurring in Neutral Bay?
Development activity is notable at 76 applications over 12 months. Examples include alterations to existing residential buildings, a boarding-house application and smaller structures such as cabanas or garden sheds. Buyers and investors should check the exact address for construction timing, approvals, noise and future outlook. In an apartment-dominant suburb with 80.6% apartments, even modest works can affect access and amenity.
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 education open registers (school locations), 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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