Bannockburn (Vic.)

Bannockburn lies within the top 10% of areas nationally in terms of population growth performance according to AreaSearch analysis of short and medium-term trends

As of Feb 2026, the estimated population of the suburb of Bannockburn (Vic.) is around 7,606. This figure reflects an increase of 1,136 people since the 2021 Census, which reported a population of 6,470. The change is inferred from AreaSearch's estimation of the resident population at 6,913 following examination of the latest ERP data release by the ABS in June 2024, and an additional 281 validated new addresses since the Census date. This results in a density ratio of 107 persons per square kilometer. The suburb's growth rate of 17.6% since the 2021 census exceeded both the Rest of Vic. (8.1%) and the national average, marking it as a growth leader in the region. Interstate migration contributed approximately 70.0% of overall population gains during recent periods, with natural growth and overseas migration also being positive factors.

AreaSearch's projections for Bannockburn are based on ABS/Geoscience Australia data released in 2024 using 2022 as the base year. For areas not covered by this data, AreaSearch utilises VIC State Government's Regional/LGA projections released in 2023 with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Exceptional growth is predicted over the period, placing Bannockburn in the top 10 percent of national non-metropolitan areas. The area is expected to increase by 5,237 persons to 2041 based on aggregated SA2-level projections, reflecting an increase of 59.7% in total over the 17 years.

AreaSearch assessment of residential development activity positions Bannockburn among the top 25% of areas assessed nationwide

AreaSearch analysis of ABS building approval numbers in Bannockburn shows around 65 new homes approved annually. Between FY21 and FY25, approximately 325 homes were approved, with an additional 33 approved so far in FY26. Over the past five financial years, on average, 2.4 people moved to the area per new home constructed, indicating solid demand supporting property values.

New homes are being built at an average expected construction cost of $519,000, targeting the premium market segment with higher-end properties. This year has seen $9.1 million in commercial approvals, suggesting limited focus on commercial development. Compared to Rest of Vic., Bannockburn maintains similar development levels per person, though building activity has slowed recently.

New developments consist of 97.0% detached houses and 3.0% attached dwellings, preserving the area's traditional low-density character focused on family homes. With around 142 people per approval, Bannockburn reflects a developing area. Population forecasts indicate an increase of 4,544 residents by 2041. At current development rates, housing supply may struggle to keep pace with population growth, potentially intensifying buyer competition and supporting price increases.

Bannockburn has strong levels of nearby infrastructure activity, ranking in the top 40% nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch identified six projects likely affecting the region. Notable initiatives include Brand New Commercial Spaces in Bannockburn, St Mary MacKillop Catholic Primary School Upgrade, Bannockburn South East Precinct Structure Plan, and Bannockburn North West Development Plan Area. The following list details those most relevant:.

Professional plan users can use the search below to filter and access additional projects.

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The labour market in Bannockburn shows considerable strength compared to most other Australian regions

Bannockburn has a balanced workforce comprising white and blue collar jobs, with prominent essential services sectors. Its unemployment rate is 2.6%. Over the past year, employment has remained relatively stable.

As of December 2025, 3,654 residents are employed, with an unemployment rate of 1.1% lower than Regional Vic.'s 3.7%. Workforce participation stands at 71.8%, surpassing Regional Vic.'s 61.5%. According to Census responses, 16.7% of residents work from home, potentially influenced by Covid-19 lockdowns. Key industries include health care & social assistance, construction, and retail trade.

Notably, construction employs 1.4 times more residents than the regional level, while agriculture, forestry & fishing employs only 2.4%, below Regional Vic.'s 7.5%. Local employment opportunities appear limited, with fewer Census working population than resident population. Between December 2024 and November 2025, labour force decreased by 0.7% and employment by 0.4%, leading to a 0.3 percentage point unemployment rate drop. In contrast, Regional Vic.'s employment contracted by 0.6%, labour force fell by 0.7%, and unemployment dropped by 0.1 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 project overall growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Bannockburn's industry mix suggests local employment should increase by 6.2% over five years and 13.0% over ten years, though this is a simplified extrapolation for illustrative purposes only.

The economic profile demonstrates above-average performance, with income metrics exceeding national benchmarks based on AreaSearch comparative assessment

The suburb of Bannockburn had an income level below the national average based on latest ATO data aggregated by AreaSearch for financial year ended June 2023. The median income among taxpayers in Bannockburn was $54,240 and the average income stood at $66,731. These figures compared to Regional Vic.'s median of $50,954 and average of $62,728 respectively. By September 2025, estimates based on Wage Price Index growth of 8.25% would be approximately $58,715 (median) and $72,236 (average). Census data from 2021 showed household, family and personal incomes in Bannockburn clustered around the 63rd percentile nationally. The income bracket of $1,500 - 2,999 dominated with 39.1% of residents, mirroring the region where 30.3% occupied this bracket. Housing accounted for 14.4% of income while strong earnings ranked residents within the 72nd percentile for disposable income. The area's SEIFA income ranking placed it in the 5th decile.

Bannockburn is characterized by a predominantly suburban housing profile, with ownership patterns similar to the broader region

The latest Census showed that 95.8% of dwellings in Bannockburn were houses, with the remaining 4.1% being other types like semi-detached homes, apartments, and 'other' dwellings. This compares to Regional Vic., where 90.1% of dwellings were houses and 9.9% were other types. In terms of home ownership in Bannockburn, 30.0% of dwellings were owned outright, while 58.5% were mortgaged and 11.4% were rented. The median monthly mortgage repayment in the area was $1,863, higher than Regional Vic.'s average of $1,430. Meanwhile, the median weekly rent figure for Bannockburn was recorded at $390, compared to Regional Vic.'s $285. Nationally, Bannockburn's mortgage repayments were similar to the Australian average of $1,863, while rents in the area exceeded the national figure of $375.

Bannockburn features high concentrations of family households, with a higher-than-average median household size

Family households constitute 85.8% of all households, including 47.3% couples with children, 27.5% couples without children, and 10.2% single parent families. Non-family households account for the remaining 14.2%, with lone person households at 13.6% and group households comprising 0.9%. The median household size is 3.0 people, larger than the Regional Vic. average of 2.4.

Bannockburn performs slightly above the national average for education, showing competitive qualification levels and steady academic outcomes

The area has university qualification rates of 17.2%, significantly lower than the Victorian average of 33.4%. Bachelor degrees are most common at 11.8%, followed by graduate diplomas (2.9%) and postgraduate qualifications (2.5%). Vocational credentials are prevalent, with 45.7% of residents aged 15 and above holding them - advanced diplomas at 12.5% and certificates at 33.2%. Educational participation is high, with 32.2% of residents currently enrolled in formal education.

This includes 13.0% in primary education, 9.3% in secondary education, and 2.6% pursuing tertiary education.

Transport servicing is very low compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Bannockburn has one active public transport stop operating within its boundaries. This stop is served by one route, offering a total of ten weekly passenger trips. The area's transport accessibility is limited, with residents located an average of 979 meters from the nearest transport stop. Predominantly residential, most Bannockburn residents commute outward, with cars being the dominant mode of transportation at 96%. On average, there are 2.1 vehicles per dwelling, exceeding the regional average. According to the 2021 Census, 16.7% of residents work from home, a figure which may be influenced by COVID-19 conditions.

The service frequency averages one trip per day across all routes, resulting in approximately ten weekly trips per individual stop.

Health outcomes in Bannockburn are marginally below the national average with the level of common health conditions among the general population somewhat typical, though higher than the nation's average among older cohorts

Bannockburn's health indicators show below-average outcomes based on AreaSearch's assessment of mortality rates and chronic condition prevalence as of 15th May 2022. The level of common health conditions among the general population is somewhat typical but higher than the national average, particularly among older cohorts.

Private health cover stands at approximately 53% of the total population (~4,047 people), leading the average SA2 area's rate of 50.5%. The most prevalent medical conditions are asthma and mental health issues, affecting 9.7 and 8.8% of residents respectively, while 68.9% declare themselves completely clear of medical ailments compared to Regional Vic.'s 63.4%. Health outcomes among the working-age population are broadly typical. The area has 13.5% of residents aged 65 and over (1,026 people), lower than Regional Vic.'s 23.9%. Health outcomes among seniors present some challenges but rank lower nationally than those of the broader population.

Bannockburn is considerably less culturally diverse than average when assessed alongside AreaSearch's national rankings for language and cultural background related metrics

Bannockburn's cultural diversity was found to be below average, with 89.9% of its population born in Australia, 93.0% being citizens, and 96.5% speaking English only at home. The predominant religion in Bannockburn is Christianity, accounting for 47.2% of the population, compared to 47.3% across Regional Vic. The top three ancestry groups are Australian (33.2%), English (30.2%), and Irish (8.0%).

Notably, Hungarian (0.5%) and Dutch (2.2%) ethnicities are overrepresented in Bannockburn compared to regional averages of 0.2% and 1.7%, respectively, while Croatian ethnicity is also higher at 1.2% versus the regional average of 0.4%.

Bannockburn's population is younger than the national pattern

Bannockburn's median age is 35 years, which is lower than the Regional Victoria average of 43 and the Australian median of 38. The 35-44 age group makes up 17.3% of Bannockburn's population, higher than the Regional Vic. average, while the 65-74 year-olds make up 7.9%, lower than the regional average. According to the 2021 Census, the 35-44 age group has increased from 15.2% to 17.3% of the population, while the 45-54 cohort has decreased from 13.1% to 12.4%. By 2041, demographic modeling projects significant changes in Bannockburn's age profile, with the 25-34 cohort expected to grow by 90%, adding 868 residents to reach a total of 1,834.