Banksia is named for Joseph Banks, a botanist on the Voyage of Discovery of James Cook which visited the nearby Botany Bay in 1770.

It includes Banksia Bakery, a take-away shop, a convenience store, chemist, Australia Post and a number of hairdressers.

A market garden is located on the eastern side of West Botany Street, close to St George Soccer Stadium.

Located next to St George Stadium on the grounds of Barton Park lies the Rockdale Ilinden Sports Centre, the former home grounds of the Rockdale Ilinden Football Club, a largely Macedonian supported NSWPL soccer club.

Banksia railway station on the Eastern Suburbs & Illawarra Line of the Sydney Trains network.