Southbank
Population of 22,631 is concentrated into 1.56 square kilometres, producing a density of 14,469.9 people per square kilometre. Southbank's profile is younger than the national pattern, with a median age of 31, while 64.7% of residents were born overseas, 43.1 percentage points above the national comparison. Apartments account for 98.6% of dwellings and the 3.82% annual growth trend is linked to overseas migration. Compared with South Melbourne, Southbank is more vertical and more renter-oriented, with 67.7% renting.
Population
22,631
Median Age
31.0
Household IncomeiMedian weekly household income (ABS Census)
$1,926/wk
DAs (12 months)iDevelopment Applications lodged in the past year
137
Southbank suits buyers who prioritise apartment access and central convenience over a detached-house setting. Apartments represent 98.6% of dwellings, while 57.4% of homes have 2 bedrooms and 29.3% have 0 or 1 bedroom, so the stock is concentrated toward smaller formats. Weekly rent is $411, and the recorded mortgage repayment is $1,900 per month, with mortgage costs at 22.8% of household income. Compared with a lower-density suburb such as South Melbourne, buyers should weigh lift, owners corporation and building-specific conditions more heavily because apartment concentration is 98.6%.
For Buyers
Southbank suits buyers who prioritise apartment access and central convenience over a detached-house setting. Apartments represent 98.6% of dwellings, while 57.4% of homes have 2 bedrooms and 29.3% have 0 or 1 bedroom, so the stock is concentrated toward smaller formats. Weekly rent is $411, and the recorded mortgage repayment is $1,900 per month, with mortgage costs at 22.8% of household income. Compared with a lower-density suburb such as South Melbourne, buyers should weigh lift, owners corporation and building-specific conditions more heavily because apartment concentration is 98.6%.
For Investors
Southbank's rental profile is deep but not tight: 67.7% of residents rent, weekly rent is $411, and vacancy is 28.5%. That high vacancy can soften near-term rental competition, which matters more than the suburb's central setting when estimating holding income. Development activity is also substantial, with 149 applications recorded over 12 months, increasing the risk of competing apartment supply. The 3.82% annual growth trend and overseas migration driver support ongoing demand, while rent growth of -15.9% signals recent pressure. Compared with owner-oriented South Melbourne, the renter share is higher, so investors need to allow for tenant turnover and building-level variation.
Development Activity
Total DAs
272
Last 12 Months
137
YoY ChangeiYear-over-year change in DA lodgements
+5.4%
Avg DA CostiAverage estimated cost per DA in the past year
$41.5M
Monthly DA Lodgements
DA Categories
Schools in Southbank
Open-register school locations for education access. This is not a school-quality ranking.
South Melbourne Primary School
Victorian College Of The Arts Secondary School
Demographics
Southbank has a younger, more internationally mobile population than the national profile. Median age is 31, or 9 years below the national comparison, and 64.7% of residents were born overseas, 43.1 percentage points above the national figure. University attainment is 67.1%, 37 points above national, helping explain the concentration of professionals and the 48.8% work-from-home rate. Households average 1.8 people, 0.7 below national, while the turnover rate is 56.6%. Chinese ancestry counts 4,683 and Indian ancestry 2,212, with Mandarin spoken by 1,087 people. Compared with South Melbourne, Southbank has a more transient, apartment-led demographic pattern.
Age Distribution
Bedrooms
Dwelling Structure
0.0%
Houses
1.3%
Townhouse
98.6%
Apartment
Tenure
Southbank's housing stock is overwhelmingly apartment-based, with 98.6% apartments and just 1.3% semi-detached dwellings recorded. The most common format is 2 bedrooms at 57.4%, followed by 0 or 1 bedroom at 29.3%; 3-bedroom homes account for 12.8% and 4-plus homes only 0.5%. Tenure is renter-heavy: 67.7% rent, 17.9% hold a mortgage and 12.7% own outright. Rent takes 21.3% of household income and mortgage costs take 22.8%, with neither flagged as housing stress. Compared with South Melbourne, this mix is more vertical and less suited to buyers seeking detached-house choice.
Mortgage / mo
$1,900
Rent / wkiMedian weekly rent for new bonds (year ending Sep 2025), Homes Victoria bond data (year-ending median). Census 2021 median: $411.
$680
Bond data year ending Sep 2025 · units $720
HH Size
1.8
Personal Income / wk
$1,171
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
28.5%
Unoccupied
4,735
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
21.3%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
22.8%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
18.1%
Couples with children
68.1%
Couples, no children
9.1%
Single parent
5,291
Total families
Economy & Employment
Southbank's economy leans toward knowledge and service work. Professional and technical industries account for 21.0% of jobs, followed by hospitality and finance at 9.5% each, healthcare at 9.0% and education at 7.3%. The occupational base is similarly skilled, led by 5,997 professionals and 2,349 managers. Labour-force participation is 77.7%, unemployment is 5.8%, and household income of $1,926 per week sits at the 72.1st percentile. SEIFA results show a sharp contrast: education and occupation reach decile 10, while economic resources sit at decile 1, so high qualifications coexist with uneven financial capacity. Compared with the national position, the university share is 37 points higher, supporting demand for central professional services.
Unemployment
5.8%
Labour Force
16,532
Unemployed
952
Source: ABS Census 2021
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
64.3%
Part-time
29.6%
Participation
77.7%
Employed
15,580
Full-time and part-time are shares of the employed. Source: ABS Census 2021
Occupations
Top Industries
University
67.1%
Postgraduate
24.8%
Born Overseas
64.7%
Dwellings
11,856
Transport to Work
Southbank favours a walkable, transit-linked apartment lifestyle, although many residents also work from home. Public transport accounts for 14.2% of commuting, walking or cycling for 17.3%, driving for 18.1%, and working from home for 48.8%. Two nearby government schools provide 1 primary and 1 secondary option, so families should check enrolment zones against the exact address. Safety requires attention: 3,810 offences produce a rate of 168.4 per 1,000 residents, with property and deception offences at 2,439, higher than crimes against the person at 596. Economic advantage is strong overall, with an IRSAD decile of 10, but the crime rate is a practical concern compared with quieter residential areas. The dense 14,469.9 people per square kilometre helps explain the active urban setting, while also increasing visitor and building-management pressures.
Drive
18.1%
Public Transport
14.2%
Walk / Cycle
17.3%
Work from Home
48.8%
Population Forecast
+3.82%/yr
(+746 people/yr)
High GrowthSouthbank is in a high-growth phase, with an annual trend of 3.82% and population change across the wider area of 141.8% over 10 years. Overseas migration is the primary growth driver, consistent with the suburb's 64.7% overseas-born population. The shift trajectory is labelled Stable, while rent growth is -15.9%, suggesting expansion has not translated into stronger rents. Gentrification has a score of 0 and is labelled New development, rather than an established uplift cycle. With 149 development applications in 12 months, new supply is likely to keep reshaping the apartment market. Growth is therefore higher than a mature, low-turnover market, but its benefits depend on absorption and rental recovery.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+924
Net Internal / yr
-274
Gentrification Signal
New development
Safety & Crime
Total Offences
3,810
Year ending June 2024
Rate per 1,000 People
168.4
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Southbank compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Southbank a good suburb to live in?
Yes, for people seeking a central apartment lifestyle. Southbank has 22,631 residents, a median age of 31, 98.6% apartments and 48.8% working from home. Its 168.4 offences per 1,000 residents and 28.5% vacancy rate mean buyers and renters should inspect the exact building and immediate streets before deciding.
What is the median house price in Southbank?
Southbank's median house price is not available as a meaningful house-market measure because 98.6% of dwellings are apartments. The stock is concentrated in 2-bedroom homes at 57.4% and 0 or 1-bedroom homes at 29.3%. Compare recent sales within the same building, including owners corporation costs, condition and aspect.
What schools are in Southbank?
Two nearby government schools serve different age groups: South Melbourne Primary School is a government primary option, while Victorian College Of The Arts Secondary School is a government secondary option. School access depends on the exact address, so check enrolment zones before signing a lease or contract. The practical choice is therefore 1 primary and 1 secondary option nearby.
Is Southbank safe?
Safety is mixed rather than uniformly low-risk. Southbank records 3,810 offences, or 168.4 per 1,000 residents; property and deception offences account for 2,439, compared with 596 crimes against the person. Check lighting, entrances, parking areas and late-night foot traffic around the exact building, because a dense apartment and visitor environment can feel different from one street to the next.
Is Southbank good for property investment?
It can suit investors seeking renter demand, but the figures call for a cautious building-level assessment. Rent is $411 per week, 67.7% of residents rent and vacancy is 28.5%, while 149 development applications in 12 months may add competition. Overseas migration supports demand and the annual growth trend is 3.82%, but rent growth of -15.9% points to recent softness.
How is Southbank's population changing?
Southbank's population is growing strongly in a young, international market. The annual trend is 3.82%, wider-area population change is 141.8% over 10 years and overseas migration is the primary driver. The trajectory is labelled Stable, while the median age is 31 and 64.7% of residents were born overseas. Growth is being shaped by apartment supply and migration rather than an ageing shift.
What languages are commonly spoken in Southbank?
Mandarin is spoken by 1,087 residents, Hindi by 481, Cantonese by 328, Korean by 215 and Arabic by 144. These figures fit a suburb where 64.7% of residents were born overseas and 67.1% have university qualifications, so services and communications often need to work across several cultural markets.
What development is occurring in Southbank?
Development activity is substantial, with 149 applications recorded over 12 months. That pipeline matters because 98.6% of Southbank dwellings are apartments and 67.7% of residents rent, making new towers and staged subdivisions relevant to both supply and competition. Check the exact project, delivery timing, dwelling mix and owners corporation structure before relying on a growth or rental assumption.
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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