ECONOMIC PROFILE · 2019-06-27 · BANYULE ECONOMIC PROFILE 5 Banyule Council supports a strong and successful local economy, where businesses prosper. This Economic Profile is a

ECONOMIC PROFILE

2018

BANYULE ECONOMIC PROFILE 3

CONTENTSBANYULE OVERVIEW 5-8

BANYULE JOBS 9-12

INDUSTRY FOCUS 13-16

BANYULE RESIDENTS 17-19

BANYULE PROPERTY 20-25 AND PROJECTIONS


Banyule Council supports a strong and successful local economy, where businesses prosper. This Economic Profile is a useful tool for those already doing business in Banyule or wishing to invest.

The profile informs Council's Economic Development Plan, which identifies what Council is doing to drive economic growth in Banyule.

ECONOMIC PROFILE

Broadmeadows

Greensborough

Roxburgh

GladstonePark

Glenroy

Heidelberg

Coburg

Brunswick

South Morang

MELBOURNE NORTHERN SUBREGION

Epping

Broadmeadows

MELBOURNEAIRPORT

ESSENDONAIRPORT

MELBOURNECENTRAL BUSINESS

DISTRICT

Diamond Creek

Eltham

Greensborough

UniversityHill

South Roxburgh

GladstonePark

Glenroy

Reservoir

IvanhoeNorthcote

Preston

Heidelberg

Coburg

Brunswick

Yarra River

Northern subregion boundary

City of Banyule boundary

Road network

Rail network (including stations)

Tram network

Open space/parkland

Waterway

Health precinct

Education node

Banyule activity centre

Montmorency

St Helena

Macleod

Rosanna

Ivanhoe East

Bundoora

La TrobeUniversity

Lower Plenty

Diamond Village

Eaglemont

Diamond Creek

Eltham

Northcote

Preston The Mall

Ivanhoe

Watsonia

BANYULE OVERVIEW

Banyule is less than 30 minutes from the Melbourne CBD

LOCATIONThe City of Banyule is located in Melbourne's north-eastern suburbs, between 7 and 21 kilometres from the Melbourne CBD. Banyule is an established residential area with significant open spaces and parklands.

Banyule has three main activity centres within the suburbs of Greensborough, Heidelberg and Ivanhoe, which include retail, office and other commercial space. Major features include Simpson Army Barracks, Austin Hospital, Melbourne Polytechnic and Greensborough Shopping Centre.

Council recognises that the municipality of Banyule is on the traditional lands of the Wurundjeri willam. The name 'Banyule' comes from the local Woiwurrung language and means 'hill'.

76%

17%

7%

Residential

Parkland

Other

BANYULE LAND USE


City of Banyule boundary

Road network

Rail network

Tram network

Health precinct

Education node

Major activity centre

Local activity centre

Industrial precinct

Employment cluster


POPULATION

The municipality has an older age profile compared to Greater Melbourne. Older adults aged 50+ years make up 36% of Banyule’s population compared to 31% of the population in Greater Melbourne.

CULTURAL DIVERSITYBanyule is a culturally and linguistically diverse municipality. Residents come from over 140 countries and around 120 different languages are spoken at home.

More than one in five Banyule residents (22%) speak a language other than English at home. The main non-English languages spoken are: Mandarin, Italian, Greek, Cantonese and Arabic.

23% of residents are born overseas. Between 2011 and 2016, there was significant growth in the number of residents born in China (+1,111 persons, 47% increase).

HOUSEHOLDSThere are over 46,000 households in Banyule. The main household type is couples with children (34%).

DWELLINGS The majority of Banyule households live in separate houses (76%). Between 2011 and 2016, there was a decline in the number of separate houses and an increase in the number of medium and high density dwellings.

SOCIO-ECONOMICBanyule has a higher than average socio-economic profile compared to Greater Melbourne. However, there are pockets of disadvantage in the municipality.

Banyule’s Estimated Resident Population for 2017 is 129,341

FORECAST

From 2018 to 2036, forecasts indicate:

• around 15,900 more residents

• older adults (aged 50+ years) will make up 37% of the population, up from 35% in 2018

• 10% increase in population of working age (15-64 yrs)

• 27% increase in population of retirement age (65+ yrs)

GROSS REGIONAL PRODUCT

Banyule’s economy has steadily grown over the past decade from a Gross Regional Product (GRP) of $4.7 billion in 2007 to $5.7 billion in 2017.

GRP is the amount of wealth generated by businesses, organisations and individuals working in the area.

BANYULE OVERVIEW

Banyule’s population is forecast to grow to 147,098 by 2036

$

2007

2009

2011

2013

2015

2017

$4.7

$4.8

$5.0

$5.0

$5.1

$5.7

ECONOMIC GROWTH ($BN) from 2006 to 2017

POPULATION FORECAST

131,178

2018 2027 2036

140,639147,098


Banyule had 10,751registered businesses in 2017

BUILDING APPROVALS

There has been a gradual upward trend in the value of building approvals in the last ten years, from $278 million in 2007/08 to $521 million in 2016/17.

Residential Non-Residential

TYPE OF BUILDING APPROVALS

64%

36%

JOBS

Health care and social assistance is the largest employer, generating 15,117 (31%) local jobs. Education and training is the next highest employer, followed by retail trade.

Industries with the largest drop in job numbers (from 2014/15 to 2016/17):

• Manufacturing (-186)• Wholesale trade (-171)• Financial & insurance

services (-36).

Overall, from 2014/15 to 2016/17, the number of jobs in Banyule increased by nearly 3,000.

There were 48,122 jobs in Banyule in the financial year ending June 2017

THE TOP 3 INDUSTRIES WITH THE LARGEST GROWTH

IN JOB NUMBERS (from 2014/15 to 2016/17)

+1,161HEALTH CARE & SOCIAL ASSISTANCE

+1,026 CONSTRUCTION

+392EDUCATION & TRAINING

HOURS WORKED

Full-time work varies across industries. For example:

• less than half of those employed in the retail trade industry work full-time (39%).

• almost half of those employed in health care and social assistance work full-time (49%).

• over half of those employed in the education and training industry work full-time (52%).

• the majority of those employed in the construction or manufacturing industries work full-time (75%).

PROPORTION OF WORKERSWORKING PART TIME

45%

36% 37%

Banyule GreaterMelbourne

VIC

BANYULE JOBS

BANYULE OVERVIEW

REGISTERED BUSINESSES

The largest increase in the number of registered businesses between 2014 and 2017 were:

• Construction (+162 businesses)

• Transport, postal and warehousing (+130 businesses)

• Financial and insurance services (+116 businesses).

TOP 3 INDUSTRIES WITH THE MOST REGISTERED BUSINESSES

(as a % of all businesses)

19% CONSTRUCTION

15% PROFESSIONAL, SCIENTIFIC & TECHNICAL

SERVICES

11% RENTAL, HIRING & REAL ESTATE SERVICES

$

No employees

1-4 employees

5-19 employees

20 or more employees

63%

28%

7%1%

PROPORTION OF EMPLOYING AND NON-EMPLOYING

BUSINESSES


AGE GROUP

Compared to male workers, female workers were:

• more likely to have completed a bachelor or higher degree (44% compared to 32%)

• more likely to have worked part-time (58% compared to 28%)

• more likely to be employed in health care & social assistance and education & training

• less likely to have earned a higher income ($1,750 per week or more).

Compared to Greater Melbourne, Banyule has:

• a similar proportion of younger workers aged 15-24 years (14%)

• a lower proportion of the working age group 25-54 years (64% compared to 69%)

• a higher proportion of older workers aged 55+ years (22% compared to 17%).

GENDER QUALIFICATION

Within Banyule, there are more workers with health qualifications than any other field.

OCCUPATION

In combination these three occupations account for 58% of all workers in Banyule.

Compared to Greater Melbourne, people who work in Banyule are:

• more likely to be professionals (31% compared to 25%)

• more likely to be community & personal service workers (14% compared to 10%).

In Banyule, 43% of workers are male and 57% are female.

In Greater Melbourne, 52% of workers are male and 48% are female

BANYULE JOBS

WORKERS WITH HEALTHQUALIFICATIONS

18% BANYULE

PROFESSIONALS 12,691 PEOPLE

8% VICTORIA

TECHNICIANS & TRADES5,192 PEOPLE

GREATER MELBOURNE7%

COMMUNITY & PERSONAL SERVICE

WORKERS5,517 PEOPLE

TOP 3 OCCUPATIONS IN BANYULE

An increasing proportion of workers have a tertiary qualification

(e.g. midwives, nurses, school teachers, medical

practitioners, etc)

(e.g. personal carers and assistants, hospitality

workers, child carers, sports and fitness workers, etc)

(e.g. food trades, medical and

science technicians, bricklayers, carpenters,

electricians, etc).

31%

14%

13%

Half of the people who work in Banyule (50%) have a tertiary qualification and nearly one in five (19%) have a certificate.

BANYULE ECONOMIC PROFILE 13BANYULE ECONOMIC PROFILE 12

INCOME RESIDENTIAL LOCATION OF WORKERS

In Banyule, the financial and insurance services industry has the highest proportion of workers earning a high income (25%), followed by the professional, scientific and technical services industry (24%).

In 2016, 36% of workers in Banyule were local residents.

Whittlesea, Nillumbik and Darebin are the top three places of residence outside of Banyule for its workforce.

$ INDUSTRY OVERVIEW

In combination these three industries account for 52% of workers.

The major difference between the jobs held by workers in Banyule compared to Greater Melbourne is the larger proportion of workers employed in health care and social assistance (31% in Banyule compared to 12% in Greater Melbourne).

INDUSTRY FOCUS

Health care and social assistance is the largest employer in Banyule

HEALTH CARE & SOCIAL ASSISTANCE

Health care and social assistance is the largest employer in Banyule. It is also the most productive industry, generating $1,166 million in 2016/17, up $49 million from the previous year.

In Banyule, the majority of health care & social assistance workers:

• work in a hospital (55%)

• are aged 15-44 years (54%)

• are female (78%)

• have a professional occupation (53%)

• have a bachelor or higher degree (58%).

BANYULE JOBS

GROSS WEEKLY INCOME OF WORKERS IN BANYULE

RESIDENTIAL LOCATION OF WORKERS

21%

32%

45%

Under $500

$500-$999

$1000+

$$$

Live & work in Banyule

Work in Banyule but live elsewhere

64%

36%

LARGEST 3 INDUSTRIES IN BANYULE

IN RELATION TO THE NUMBER OF JOBS

(AS A % OF TOTAL JOBS ACROSS ALL INDUSTRIES)

HEALTH CARE & SOCIAL ASSISTANCE

(15,117 jobs)

10%

11% EDUCATION & TRAINING

(5,251 jobs)

EMPLOYMENT LOCATION - HEALTH CARE & SOCIAL

ASSISTANCE

14% of the people who work in Banyule earn a high income (gross $1,750 or more per week)

RETAIL TRADE(4,726 jobs)

The greatest number of health care & social assistance

workers are located in Heidelberg.

(6,278 WORKERS)

31%


CONSTRUCTION MANUFACTURING

In the past ten years, employment in the construction industry has gradually increased.

The construction industry has:

• the fourth largest number of employees (4,394)

• the second most productive industry, generating $480 million in 2016/17 (up $116 million from the previous year)

• the largest number of registered businesses (2,068).

Across Australia there has been a decline in the manufacturing industry. Compared to ten years ago there are now around 1,300 fewer manufacturing jobs in Banyule.

The manufacturing industry:

• employs over 2,700 workers in Banyule

• is the seventh most productive industry, generating $255 million in 2016/17

• was the second most productive industry ten years ago.

INDUSTRY FOCUS

EDUCATION & TRAINING

Education and training is one of the main industries in the area and has:

• the second largest number of employees (5,251)

• the fourth most productive industry, generating $331 million in 2016/17.

Adult, Community and other

Preschool

School Education

Tertiary

73%

13%

8%

6%

PROPORTION OF EMPLOYMENT ACROSS EDUCATION SECTOR

The education & training industry is the second largest employer in Banyule

The construction industry is the fourth largest employer in Banyule

EMPLOYMENT LOCATION - CONSTRUCTION

EMPLOYMENT LOCATION - MANUFACTURING

The greatest number of manufacturing

workers are located in Heidelberg West and Heidelberg Heights.

(1,411 WORKERS)

The greatest number of construction

workers are located in Heidelberg West and Heidelberg Heights.

(625 WORKERS)

RETAIL TRADE

Employment data from 2006/07 to 2016/17 show there has been a downward trend in employment in the retail industry. Over the same period the value added and total sales ($m) in the industry has increased.

The retail trade industry:

• has the third largest number of employees (4,726)

• generated $282 million in 2016/17.

Proportion of young workers aged 15-24 years in retail: 36% in Banyule compared to 30% in Greater Melbourne.

EMPLOYMENT LOCATION - RETAIL TRADE

The greatest number of retail workers

are located in Greensborough(1,150 WORKERS)


!

BANYULE RESIDENTS

OTHER INDUSTRIESThe public administration and safety industry is the third most productive industry, generating $361 million in 2016/17.

The professional, scientific and technical industry has become an important one for Banyule’s economy, generating $310 million in 2016/17.

The accommodation and food services industry generated $105 million in 2016/17.

The number of jobs in the arts and recreation services has slowly increased

LOCAL LABOUR FORCEIn Banyule, there are 62,341 residents in the labour force (defined as residents aged 15+ years who are employed or looking for work). Many are employed in health care and social assistance.

Compared to Greater Melbourne, characteristics of employed Banyule residents include a higher proportion:

• with tertiary qualifications (53% compared to 49%).

• of older workers aged 55-64 years (16% compared to 13%).

• that use public transport (17% compared to 15%).

• earning a high income ($1,750+ per week) (23% compared to 19%).

• working part-time (38% compared to 36%).

• with a professional occupation (30% compared to 25%).

INDUSTRY FOCUS

71% of Banyule’s employed residents, travel outside of the area to work

WORK LOCATION OF RESIDENTS

Of Banyule’s employed residents, 71% travel outside of the area to work.

The City of Melbourne, Darebin and Whittlesea are the top three work locations of Banyule residents.

One in five employed Banyule residents work in the City of Melbourne.

71%

4%

25%

Live in Banyule but work elsewhere

Live & work in Banyule

No fixed place of work

PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES

IS BANYULE’S FIFTH LARGEST EMPLOYER, GENERATING

2,843 JOBS IN 2016/17

PUBLIC ADMINISTRATION AND SAFETY

IS BANYULE’S SEVENTH LARGEST EMPLOYER, GENERATING

2,705 JOBS IN 2016/17

ACCOMMODATION AND FOOD SERVICES

HAS SEEN AN INCREASE IN ITS WORKFORCE

(FROM 2,601 JOBS IN 2014/15

TO 2,702 JOBS IN 2016/17)


BANYULE RESIDENTS

Youth unemployment rates are generally higher than overall unemployment rates

TRAVEL TO WORK

The majority of Banyule’s employed residents travel to work by car (63%), followed by train (15%).

The suburb of Heidelberg has the lowest proportion (54%) that travel to work by car and St Helena - Eltham North has the highest proportion (75%).

3.4% or around 2,000 residents ride their bike or walk to work.

In the suburb of Yallambie, a higher than average proportion walk to work (10%), while in Heidelberg West - Bellfield, a higher than average proportion travel by bus (8%).

BETWEEN 2011 TO 2016 THE PROPORTION OF BANYULE

RESIDENTS THAT TRAVELLED TO WORK BY PUBLIC

TRANSPORT INCREASED FROM

14% TO 17% (+1,434 PERSONS)

YOUTH UNEMPLOYMENT

The youth unemployment rate in Banyule increased from 11% in the 2011 Census to 14% in the 2016 Census.

The youth unemployment rate in Banyule remains lower than the youth unemployment rate in Greater Melbourne.

2011 2016

YOUTH UNEMPLOYMENT RATE 2011-2016 (AGED 15-24 YEARS)

Greater Melbourne

Banyule

11.2 12.3

14.215.9

ENCOURAGING LOCAL SHOPPINGIn Banyule’s 2017 Household Survey, 85% of respondent households identified at least one aspect that could be improved to encourage them to shop more locally.

The top four aspects identified to improve local shopping:

• range of shops (61%)

• quality of shops (54%)

• car parking (47%)

• price (42%).

FAVOURITE SHOPPING PRECINCTOverall, Greensborough Plaza was identified as the most favourite shopping precinct by respondent households.

Northland Shopping Centre was the favourite for households in Banyule’s West Precinct (i.e. Heidelberg West/Bellfield and Heidelberg Heights).

Warringal (Burgundy St) was the favourite shopping precinct for households in Banyule’s Mid Precinct (i.e. Heidelberg, Macleod and Rosanna).

Ivanhoe (Upper Heidelberg Rd) was the favourite shopping precinct for households in Banyule’s South Precinct (i.e. Eaglemont, Ivanhoe and Ivanhoe East).

ONLINE SHOPPINGThe proportion of residents using the internet for online shopping has increased from 19% in 2008 to 43% in 2017.

70% of adults aged 20-44 years, use the internet for online shopping

UNEMPLOYMENT RATE

The unemployment rate in Banyule remains lower compared to the unemployment rate in Greater Melbourne.

At the suburb level, the March 2017 unemployment rate was lowest in Ivanhoe East - Eaglemont (1.3%) and highest in Heidelberg West (10.7%).

Unemployment rate, 2017

• Banyule 4.0%

• Melbourne 5.9%

• Victoria 5.8%

• Australia 5.7%

2013

2

4

6

8

2014 2015 2016 2017

UNEMPLOYMENT RATE MARCH QUARTER 2013-2017

Melbourne

Banyule

4.34.7 5.2

4.2 4.0

5.56.1

6.66.0 5.9


RESIDENTIAL TRENDS

• Increased residential development, including rise in multi-unit developments (i.e. apartments and town houses).

• Growth currently concentrated in the south of the municipality.

• Future development to be focused in the six key Activity Centres.

NUMBER OF DWELLING APPROVALS IN BANYULE

JUNE 2011 – JUNE 2016


BANYULE PROPERTY AND PROJECTIONS

An economic information base was prepared in 2017 to identify trends that will be driving change and investment in Banyule and it’s six key activity centres – Heidelberg, Ivanhoe, Greensborough, Watsonia, Rosanna and Heidelberg West.

This section of the Economic Profile provides key highlights from the economic information base. More detailed analysis including projections and development considerations can be provided on request.

400 557691 765

1630

2011-12

2011-12

500

200

400

600

800

1000

1000

1500

1400

2000

1200

2012-13

2012-13

2013-14

2013-14

2014-15

2014-15

2015-16

2015-16

New other

Linear (New other)

New houses

Linear (New houses)

The number of residential developments has increased

NUMBER OF DWELLING APPROVALS BY TYPE OF DWELLING

JUNE 2011 – JUNE 2016


ACTIVITY CENTRE CONTEXT Heidelberg MAC has the greatest concentration of jobs and floor space

Median property prices are higher in Banyule compared to Greater Melbourne

PROPERTY VALUES


INCREASE IN MEDIAN PROPERTY VALUES, HOUSE AND UNIT

BANYULE VS METROPOLITAN MELBOURNE, 2005 – 2015

JOBS BY ACTIVITY CENTRE2011

MEDIAN HOUSE PRICES BANYULE SUBURBS AND

METROPOLITAN MELBOURNE 2015

EXISTING FLOOR SPACE (SQM) BY ACTIVITY CENTRE

2016

EA

GL

EM

ON

T

20

05

IVA

NH

OE

EA

ST

20

06

IVA

NH

OE

IVA

NH

OE

MA

C

IVA

NH

OE

MA

C

20

07

HE

IDE

LB

ER

G

20

08

RO

SA

NN

A

RO

SA

NN

A N

AC

RO

SA

NN

A N

AC

20

09

VIE

WB

AN

K

20

10

WA

TS

ON

IA

20

11

MA

CL

EO

D

20

12

MO

NT

MO

RE

NC

Y

20

13

BE

LL

FIE

LD

20

14

20

15

HE

IDE

LB

ER

G H

EIG

HT

S

HE

IDE

LB

ER

G M

AC

HE

IDE

LB

ER

G M

AC

YA

LL

AM

BIE

GR

EE

NS

BO

RO

UG

H

GR

EE

NS

BO

RO

UG

H M

AC

GR

EE

NS

BO

RO

UG

H M

AC

BU

ND

OO

RA

ME

TR

O M

EL

BO

UR

NE

WA

TS

ON

IA N

AC

WA

TS

ON

IA N

AC

HE

IDE

LB

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G W

ES

T

HE

IDE

LB

ER

G W

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IDE

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$1,800,000

$1,600,000

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

14,000

12,000

10,000

8,000

6,000

4,000

2,000

200,000

150,000

100,000

50,000

$800,000

$700,000

$600,000

$500,000

$400,000

$300,000

$200,000

Metro Melbourne Median House

Metro Melbourne Median Unit

Banyule Median House

Banyule Median Unit

UNDER CONSTRUCTION

CONSTRUCTION 0-2 YRS

CONSTRUCTION 3-5 YRS

POSSIBLECONSTRUCTION

6-10 YRS

TOTAL

HEIDELBERG HEIDELBERG WEST

TOTALROSANNA WATSONIA GREENSBOROUGHIVANHOE

114

441

62

617

178 68 360

612 194 1247

156 75 428135

135

75 38 113

1021 375 2148

NUMBER OF DEVELOPMENT SITES BY ACTIVITY CENTRE 2015

11,734

3,272 3,432

1,258 711 882

Commercial Medical RetailMAC: Major Activity CentreNAC: Neighbourhood Activity Centre

–

–

–

–

–

–

–

–

–

– –

– –

–

The $600,000 line represents the Melbourne Metropolitan Average


FUTURE DEVELOPMENT AND EMPLOYMENT POTENTIAL

Projections indicate 21%-30%jobs growth by 2036

The number of dwellings in Banyule is forecast to increase


EMPLOYMENT

RETAIL (SQM)

COMMERCIAL (SQM)

HEALTH (SQM)

2036 PROJECTED GROWTH2016

47,000

252,000 309,000 +57,000

192,000 261,000 +69,000

–

57,000-61,000

+140,000 - 200,000

+10,000 - 14,000

MUNICIPAL ECONOMY PROJECTIONS SUMMARY 2016 – 2036

FORECAST

2016

50,652 53,938 56,257 58,124 60,034 469 0.85%

2021 2026 2031 2036 AVG. ANNUALADDITIONAL DWELLINGS

AVG. ANNUALGROWTH RATE

BANYULE DWELLING FORECAST TO 2036

ADDITIONAL FLOORSPACE DEMAND BY ACTIVITY CENTRE 2016 – 2036

Additional Retail Floorspace Additional Commercial Floorspace (inc Medical)

IVANHOEMAC

ROSANNANAC

HEIDELBERGMAC

GREENSBOROUGHMAC

WATSONIANAC

HEIDELBERG WEST NAC

160,000 SQM

140,000 SQM

100,000 SQM

80,000 SQM

60,000 SQM

40,000 SQM

20,000 SQM

FORECAST DWELLING DEVELOPMENT 2012 – 2036

Forecast development Total dwellings

20

12

20

13

20

14

20

15

20

16

20

17

20

18

20

19

20

20

20

21

20

22

20

23

20

24

20

25

20

26

20

27

20

28

20

29

20

30

20

31

20

32

20

33

20

34

20

35

20

36

800

600

400

200

80,000

60, 000

40,000

20,000

FO

RE

CA

ST

DE

VE

LO

PM

EN

T (

DW

ELLIN

G)

TO

TA

L N

UM

BE

R O

F D

WE

LL

ING

S

–


NOTES DATA SOURCE• ABS Census of Population and Housing, 2011 and 2016

• Population forecasts prepared by .id, the population experts, November 2017

• Unemployment rates sourced from Small Area Labour Markets March 2017 quarter

• National Institute of Economic and Industry Research (NIEIR), 2016/17, compiled by .id

• ABS Counts of Australian Businesses, 2015-2017

• 2017 Banyule Household Survey

• Banyule Economic Information Base, Municipal and Activity Centre Assessment Reports 2017


STAY CONNECTEDKeep up to date on local business news and information by subscribing to Banyule Council’s free business e-updates at banyulebusiness.com.au

Follow Banyule Business on

facebook.com/banyulebusiness

@banyulebusiness

[email protected] or 9490 4222

http://www.banyulebusiness.com.au

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Documents

ECONOMIC PROFILE · 2019-06-27 · BANYULE ECONOMIC PROFILE 5 Banyule Council supports a strong and successful local economy, where businesses prosper. This Economic Profile is a