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Local workers don’t live here

18 Mar 2014

Southbank may be an economic power within the City of Melbourne (CoM) but that doesn’t translate to local jobs for residents, according to a new council study.

The Southbank Small Area Demographic Profile revealed that, of the 33,644 people who work in Southbank, just 1000 (around 3 per cent) also call the suburb home.

Despite clear growth in inner-city living, a whopping 92 per cent of the Southbank workforce live outside the municipality and travel in from greater Melbourne and beyond.

The report focuses on the 2011 census results and compares Southbank with the 11 other suburbs within the CoM.

It also found that, of those who commute, 45 per cent drive – well above the municipality’s average of 34 per cent.

Regarding residents, the profile said locals earned more and were better connected to the internet than in neighbouring suburbs.

Our average weekly income of $963 is well above the CoM average ($711), but before we start celebrating, it only places us fourth of the 12 suburbs, behind Docklands ($1060), South Yarra (west) ($1108) and East Melbourne ($1164).

While we are slightly above the average median age in the CoM (29-years-old compared with 28-years-old) we are still well below the national average age of 37-years-old.

Southbank has 78 per cent of dwellings connected to broadband internet access – the highest of any suburb in the CoM and well above the 71 per cent overall municipality figure.

Southbank also has the lowest number of households without internet connection at just 4 per cent.

The profile highlighted a significant drop in the population forecast from the 74,000 by 2040 that raised eyebrows in the initial 2010 Southbank Structure Plan, before it was removed.

The study predicted 32,252 residents by 2036, a much more realistic, but still very substantial, increase of just over 20,000 residents in the next 22 years.

The report showed the median monthly mortgage repayment for owners in Southbank was fourth highest ($2300) in the municipality despite having the second highest median weekly rental payment ($496).

Not surprisingly, we are tied for the highest level of residential apartments (94 per cent, shared with Docklands). No other suburb in the municipality has over 90 per cent and we are well above the CoM average of 67 per cent.

Our population of 11,303 represents 12 per cent of the CoM’s overall population and, fittingly, our 7773 residential dwellings comprise 13 per cent of those within the municipality.

At 11,303 residents, we are the fourth most populated of the suburbs within the CoM.

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