Future outlook

Glebe Point Road

Growth in Glebe Point Road village population is expected to be moderate, driven mainly by a few large urban redevelopment projects. While not extremely high, this growth will support growing demand for goods and services from a variety of businesses.

Population Growth

Over the period 2011 to 2031, the population of Glebe Point Road village is forecast to increase from 20,127 to 25,151 (see Table 12).

This equates to an average growth of 276 new residents a year, or 1.2%.

As shown in Figure 11, in the context of forecast growth for the other villages, an increase of 276 people per year is moderate, but significantly below growth expected in the southern part of the City of Sydney local area.

This is to be expected, given that Glebe Point Road is an established village, with relatively little land available to be developed for new residences.

The main exception here is the Harold Park development with 1,250 residences planned for the 10.6 hectare site.

Table 12 – Forecast Village Population, 2011–2031

Estimated Resident Population Av. Annual Growth 2011–2031
2011 2021 2031 No. %
20,127 25,151 25,655 276 1.2%
Source: id Forecast

Figure 11 – Forecast Average Annual Population Growth, 2011–2031

Figure 11 – Forecast Average Annual Population Growth, 2011–2031 Source: id Forecast

Demographic Change

Chart 9 highlights changes in the age profile that are forecast for the village between 2011 and 2031. While the chart shows that the population in all age groups is forecast to increase over the 20 year period, there will be some rebalancing of the age distribution. The most noteworthy forecast changes are a decrease of about 1 percentage point in the proportion of the population in tertiary education and independence’ (18-24 years), which will mostly be taken up by an increase in the proportion of the population in parents and homebuilders (35-49).

Chart 9 – Population by Age Group, 2011 & 2031

Chart 9 – Population by Age Group, 2011 & 2031

Workforce Changes

Chart 10 displays forecast growth in the village workforce, based on forecasts made by the Bureau of Transport Statistics in 2012. Over the 20 year period between 2011 and 2031, growth in the workforce is forecast to be 112 workers per year, or 0.9% per annum. Over the longer period 2011 to 2046, the forecast growth rate will be slightly lower, at 105 workers per year, equating to 0.8% per annum. This is a relatively slow growth rate compared to other villages in the City of Sydney, suggesting that the village will retain its mainly residential character in coming years.

Chart 10 – Forecast Workforce Growth, 2011–2046

Chart 10 – Forecast Workforce Growth, 2011–2046

Residential Development Activity

Figure 12 shows recent and upcoming residential development in the village as measured by the City of Sydney’s Residential Development Monitor in June 2013. This shows that residential development has been fairly limited in the site with the exception of several very large projects. Notable projects include:

  • Harold Park: This project is a redevelopment of land formerly owned by Harness Racing NSW. When fully completed the development will contain around 1,250 residences. There is also an allowance for significant green space.
  • 2–6 Elger Street, Glebe: The NSW Land and Housing Corporation is planning to redevelop a number of its public housing properties near Wentworth Park. This project will deliver 495 new units, comprising a mix of social, affordable and private market housing.
  • 445–483 Wattle Street, Ultimo: This project by student accommodation provider Urbanest will provide 430 rooms when completed.

There are also several large apartment developments that have recently been completed in Camperdown along Pyrmont Bridge Road.

Major Infrastructure

Following the recent completion of the Inner West Light Rail extension, there are no further major transport infrastructure projects planned at this stage that will affect Glebe Point Road village. The majority of construction activity that will occur in the village is residential development noted here. 

Figure 12 – City of Sydney Residential Development Monitor, June 2013

Figure 12 - City of Sydney Residential Development Monitor, June 2013

What does this mean for my business?

Understanding the future outlook for the village is important for all local businesses and those considering locating in the area. Anticipating changes to the local resident and worker populations, along with changes to the physical environment, are important for successful long-term business planning.

In terms of future population and workforce, the outlook for Glebe Point Road is for a moderate level of growth. While this will support opportunities for new businesses to service the growing population, other businesses will continue to do well by focusing on their existing customer base.

Disclaimer

This information has been compiled from various sources. The publisher and contributors accept no responsibility for any injury, loss or damage arising from the use, error or omissions therein. While all care is taken to ensure a high degree of accuracy, users are invited to notify the City of Sydney of any discrepancies. No part of this information, including maps or data, may be reproduced without written permission.

Last updated: Tuesday, 16 June 2015