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

Based on analysis of ABS population updates for the broader area, as of Nov 2025, Bannockburn's estimated population is around 7,591. This reflects an increase of 1,121 people (17.3%) since the 2021 Census, which reported a population of 6,470 people. The change was inferred from AreaSearch's estimation of the resident population at 6,913 following examination of ABS' latest ERP data release in June 2024 and an additional 275 validated new addresses since the Census date. This level of population equates to a density ratio of 107 persons per square kilometer. Bannockburn's growth rate exceeded both the non-metro area (7.9%) and national average, marking it as a growth leader in the region. Interstate migration contributed approximately 70.0% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area released in 2024 with 2022 as the base year. For areas not covered, it 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. Future trends predict exceptional growth, placing the area in the top 10 percent of national non-metropolitan areas. By 2041, the Bannockburn (Vic.) SA2 is expected to increase by 5,157 persons based on aggregated SA2-level projections, reflecting an overall increase of 57.9% 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 approximately 65 new homes approved annually. Between FY21 and FY25, around 326 homes were approved, with an additional 31 approved in FY26 to date. On average, 2.3 people move to the area per new home constructed over these five financial years, indicating strong demand that supports property values.

New homes are built at an average expected construction cost of $519,000, targeting the premium market segment with higher-end properties. In FY26, there have been $9.1 million in commercial approvals, suggesting limited focus on commercial development. Compared to Rest of Vic., Bannockburn has similar development levels per person, maintaining market balance consistent with the broader area.

However, building activity has slowed in recent years. New development consists mainly of detached houses (97.0%) and a smaller proportion of attached dwellings (3.0%), preserving the area's traditional low-density character focused on family homes. With around 142 people per approval, Bannockburn reflects an evolving area. According to AreaSearch's latest quarterly estimate, the population is forecasted to grow by 4,396 residents by 2041. Given 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. Major 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.

Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.

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

Bannockburn has a diverse workforce with both white and blue collar jobs, with essential services well represented. The unemployment rate is 2.6%.

Over the past year, employment remained relatively stable. As of September 2025, 3,664 residents are employed, with an unemployment rate of 1.1% lower than Rest of Vic.'s 3.8%. Workforce participation is high at 68.1%, compared to Rest of Vic.'s 57.4%. Key industries include health care & social assistance, construction, and retail trade.

Construction employment is particularly high, at 1.4 times the regional level. Conversely, agriculture, forestry & fishing employs only 2.4% of local workers, below Rest of Vic.'s 7.5%. The area may have limited local employment opportunities, as indicated by Census data. In the past year, labour force decreased by 0.1%, employment by 0.2%, and unemployment rose slightly. This contrasts with Rest of Vic., where employment contracted more significantly. Statewide, VIC employment grew by 1.13% year-on-year to 25-Nov, adding 41,950 jobs, with an unemployment rate of 4.7%. National forecasts suggest total employment will expand by 6.6% over five years and 13.7% over ten years. Applying these projections to Bannockburn's industry mix indicates 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

Bannockburn suburb's income level is below national average based on latest ATO data aggregated by AreaSearch for financial year 2023. Median income among taxpayers in Bannockburn is $54,240 and average income stands at $66,731, compared to Rest of Vic.'s figures of $50,954 and $62,728 respectively. Estimated median income as of September 2025 is approximately $58,715 based on Wage Price Index growth of 8.25% since financial year 2023; estimated average income for the same period is $72,236. Census 2021 income data shows incomes in Bannockburn cluster around the 63rd percentile nationally. The $1,500 - 2,999 bracket dominates with 39.1% of residents (2,968 people). Housing accounts for 14.4% of income; strong earnings place residents within the 72nd percentile for disposable income. Area's SEIFA income ranking places it in the 5th decile.

Bannockburn is characterized by a predominantly suburban housing profile, with a higher proportion of rental properties than the broader region

Bannockburn's dwelling structure, as per the latest Census, consisted of 95.8% houses and 4.1% other dwellings. In comparison, Non-Metro Vic.'s dwelling structure was 98.0% houses and 2.0% other dwellings. Home ownership in Bannockburn stood at 30.0%, with mortgaged dwellings at 58.5% and rented dwellings at 11.4%. The median monthly mortgage repayment in Bannockburn was $1,863, above Non-Metro Vic.'s average of $1,800. The median weekly rent figure in Bannockburn was $390, compared to Non-Metro Vic.'s $330. Nationally, Bannockburn's mortgage repayments matched the Australian average of $1,863, while rents were higher at $375.

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

Family households account for 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 constitute 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, which is larger than the Rest of Vic. average of 2.8.

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

The area's university qualification rate is 17.2%, significantly lower than Victoria's average of 33.4%. Bachelor degrees are the 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+ holding them, including advanced diplomas (12.5%) and certificates (33.2%). Educational participation is high at 32.2%, comprising 13.0% in primary education, 9.3% in secondary education, and 2.6% in tertiary education.

Educational participation is notably 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, serving a mix of buses. This stop is serviced by one route, collectively providing ten weekly passenger trips. Transport accessibility in the area is rated as limited, with residents typically located 979 meters from the nearest transport stop.

Service frequency averages one trip per day across all routes, equating to 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

Health indicators suggest below-average outcomes in Bannockburn.

The level of common health conditions among the general population is somewhat typical but higher than the national average among older cohorts. Private health cover stands at approximately 53% of the total population (~4,039 people), which leads that of the average SA2 area. The most common medical conditions in the area are asthma and mental health issues, impacting 9.7 and 8.8% of residents respectively. Conversely, 68.9% of residents declare themselves completely clear of medical ailments, compared to 68.7% across Rest of Vic. The area has 13.4% of residents aged 65 and over (1,017 people), which is lower than the 15.4% in Rest of Vic. Health outcomes among seniors present some challenges requiring more attention than 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, surveyed in June 2016, had low cultural diversity with 89.9% born in Australia, 93.0% being citizens, and 96.5% speaking English only at home. Christianity was the dominant religion, at 47.2%, compared to 45.6% regionally. Top ancestry groups were Australian (33.2%), English (30.2%), and Irish (8.0%).

Hungarian (0.5%) and Dutch (2.2%) were overrepresented versus regional averages of 0.3% and 2.3%, respectively, while Croatian was slightly higher at 1.2%.

Bannockburn's population is younger than the national pattern

Bannockburn's median age is 35 years, which is lower than the Rest of Vic average of 43 and slightly younger than Australia's median age of 38. Compared to the Rest of Vic average, Bannockburn has an over-representation of the 35-44 cohort (17.0%) and an under-representation of those aged 65-74 (7.8%). According to the 2021 Census, the population aged 35-44 grew from 15.2% to 17.0%, while that of 65-74 declined from 8.4% to 7.8%. By 2041, demographic modeling predicts significant changes in Bannockburn's age profile, with the strongest growth projected for the 25-34 cohort (92%), adding 874 residents to reach a total of 1,823.