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 May 2026, the estimated population of the suburb of Bannockburn (Vic.) is around 7,161. This reflects an increase of 691 people since the 2021 Census, which reported a population of 6,470. The change was inferred from AreaSearch's estimate of 7,002 residents following examination of ABS data released in June 2025 and validation of 277 new addresses since the Census date. This results in a density ratio of 101 persons per square kilometer. Bannockburn's growth rate of 10.7% since the 2021 census exceeded that of Rest of Vic. (4.3%). Interstate migration contributed approximately 70.0% of overall population gains during recent periods, with all drivers being positive factors.

AreaSearch uses ABS/Geoscience Australia projections released in 2024 with a base year of 2022 for each SA2 area. For areas not covered by this data, AreaSearch utilises Vic State Government's Regional/LGA projections released in 2023, adjusted using weighted aggregation methods 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, with an expected increase of 4,924 persons to 2041 based on aggregated SA2-level projections, reflecting a total increase of 66.5% over the 16 years.

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

AreaSearch analysis of ABS building approval numbers, allocated from statistical area data, indicates Bannockburn has seen approximately 65 new homes approved annually. Over the past five financial years, from FY21 to FY25, around 325 homes were approved, with an additional 47 approved in FY26 as of now. On average, about 2.7 people have moved to the area per new home constructed over these five financial years, suggesting steady demand supporting property values.

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

New development consists predominantly 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 144 people being added per approval, Bannockburn reflects a developing area. According to AreaSearch's latest quarterly estimate, the population is forecasted to grow by 4,765 residents through to 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 moderate levels of nearby infrastructure activity, ranking in the top 50% nationally

Six projects have been identified by AreaSearch as potentially impacting the area. Key projects include Brand New Commercial Spaces in Bannockburn, St Mary MacKillop Catholic Primary School Upgrade, Bannockburn North West Development Plan Area, and Bannockburn South East Precinct Structure Plan.

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 with representation from both white and blue collar jobs. Essential services sectors are well represented in the area. The unemployment rate is 2.5%, lower than Regional Vic.'s 3.7%.

Employment stability has been maintained over the past year, according to AreaSearch's aggregation of statistical area data. As of December 2025, 3674 residents are employed with an unemployment rate of 1.2% below the regional average. Workforce participation is higher than standard at 71.0%, compared to Regional Vic.'s 61.0%. Moderate homeworking is observed, with 16.7% of residents working from home.

Key industries include health care & social assistance, construction, and retail trade. Construction employment is particularly high, at 1.4 times the regional level, while agriculture, forestry & fishing employs only 2.4%, below Regional Vic.'s 7.5%. Limited local employment opportunities are indicated by Census data comparing working population to resident population. Between December 2024 and November 2025, labour force decreased by 0.6% and employment fell by 0.3%, resulting in a 0.3 percentage point drop in unemployment. These trends differ from Regional Vic., where employment contracted by 0.6%, the labour force fell by 0.7%, and unemployment fell by 0.1 percentage points. Jobs and Skills Australia's national employment forecasts, released in May-25, project a 6.6% expansion over five years and 13.7% over ten years for national employment. Applying these projections to Bannockburn's employment mix suggests local employment should increase by 6.2% over five years and 13.0% over ten years, though this is an illustrative extrapolation not accounting for localized population projections.

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 per latest ATO data aggregated by AreaSearch for financial year ended June 2023. Median income among taxpayers in Bannockburn is $54,240 with average income at $66,731. Regional Vic.'s figures are $50,954 and $62,728 respectively. With Wage Price Index growth of 9.62% since June 2023, estimated incomes as of March 2026 would be approximately $59,458 (median) and $73,151 (average). Census 2021 income data shows Bannockburn residents' incomes cluster around 63rd percentile nationally. Income bracket $1,500 - 2,999 dominates with 39.1% of residents (2,799 people), similar to regional figure of 30.3%. Housing accounts for 14.4% of income. Residents rank high in disposable income at 72nd percentile and SEIFA income ranking places area in 5th decile.

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

Bannockburn's dwelling structures, as per the latest Census, comprised 95.8% houses and 4.1% other dwellings. In comparison, Regional Vic. had 90.1% houses and 9.9% other dwellings. Home ownership in Bannockburn was at 30.0%, with mortgaged dwellings at 58.5% and rented ones at 11.4%. The median monthly mortgage repayment was $1,863, above Regional Vic.'s average of $1,430. Median weekly rent in Bannockburn was $390, higher than Regional Vic.'s $285. Nationally, Bannockburn's mortgage repayments were similar to the Australian average of $1,863, while rents 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 percent of all households, including 47.3 percent couples with children, 27.5 percent couples without children, and 10.2 percent single parent families. Non-family households comprise the remaining 14.2 percent, with lone person households at 13.6 percent and group households at 0.9 percent of the total. 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'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%). Trade and technical skills are prevalent, with 45.7% of residents aged 15+ holding vocational credentials - advanced diplomas (12.5%) and certificates (33.2%). Educational participation is high, with 32.2% of residents currently enrolled in formal education, including 13.0% in primary, 9.3% in secondary, 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. It is served by one route, offering ten weekly passenger trips in total. The area's transport accessibility is limited, with residents typically living 979 meters from the nearest stop. Most residents commute outward due to its residential nature. Cars are the dominant mode of transport, used by 96% of residents. On average, there are 2.1 vehicles per dwelling, higher than the regional average.

According to the 2021 Census, 16.7% of residents work from home, which may be due to 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 August 2021. 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 (~3,811 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% report being completely clear of medical ailments compared to Regional Vic.'s 63.4%. Health outcomes among the working-age population in Bannockburn are broadly typical. The area has 14.2% of residents aged 65 and over (1,016 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, as per the census conducted on the 9th of August, 2016, exhibited lower than average cultural diversity. The population was predominantly Australian-born, with 89.9%, and citizens, with 93.0%. English was spoken exclusively at home by 96.5% of residents.

Christianity was the predominant religion, practiced by 47.2%, a figure slightly below the Regional Victoria average of 47.3%. The top three ancestry groups were Australian (33.2%), English (30.2%), and Irish (8.0%). Notably, Hungarian ancestry was overrepresented at 0.5% compared to the regional average of 0.2%, Dutch at 2.2% versus 1.7%, and Croatian at 1.2% against 0.4%.

Bannockburn's population is younger than the national pattern

Bannockburn has a median age of 35 years, which is lower than the Regional Victoria average of 43 and slightly younger than the Australian median of 38. The 5-14 age cohort is notably higher at 16.8% compared to the Regional Vic. average, while the 65-74 age group is under-represented at 8.1%. Post the 2021 Census, the 35-44 age group has increased from 15.2% to 16.4%. By 2041, demographic modeling projects significant changes in Bannockburn's age profile, with the 25-34 cohort showing the strongest growth of 99%, adding 872 residents to reach a total of 1,753.