Castlemaine

Castlemaine has seen population growth performance typically on par with national averages when looking at short and medium term trends

Based on ABS population updates and AreaSearch validation, the estimated population of Castlemaine as of Feb 2026 is around 8,321. This reflects an increase of 815 people since the 2021 Census, which reported a population of 7,506. The change was inferred from AreaSearch's estimate of 7,750 residents in Jun 2024, based on ERP data release by ABS, and an additional 69 validated new addresses since the Census date. This results in a density ratio of 420 persons per square kilometer. Castlemaine's growth of 10.9% since the 2021 census exceeded its SA3 area (6.8%) and SA4 region, marking it as a growth leader. Interstate migration contributed approximately 57.99999999999999% to overall population gains.

AreaSearch uses ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered by this data, VIC State Government's Regional/LGA projections from 2023 are used with adjustments made via weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations are applied across all areas for years 2032 to 2041. Projections indicate a decline in overall population, with the area's population expected to contract by 379 persons by 2041. However, growth is anticipated in specific age cohorts, led by the 35 to 44 age group, projected to grow by 110 people.

Residential development activity is slightly higher than average within Castlemaine when compared nationally

AreaSearch analysis of ABS building approval numbers, allocated from statistical area data, indicates Castlemaine has experienced around 48 dwellings receiving development approval each year over the past five financial years, totalling an estimated 241 homes. As of FY-26, 14 approvals have been recorded. On average, 1.2 new residents arrive per new home annually between FY-21 and FY-25, suggesting supply and demand are well-matched, fostering stable market dynamics. New properties are constructed at an average value of $466,000, indicating developers target the premium market segment with higher-end properties.

In FY-26, $84.5 million in commercial development approvals have been recorded, showing strong commercial development momentum. Compared to Rest of Vic., Castlemaine has similar development levels per person, preserving market equilibrium consistent with surrounding areas. New development consists of 88% detached houses and 12% medium and high-density housing, maintaining the area's low density nature and attracting space-seeking buyers.

With around 225 people per dwelling approval, Castlemaine shows a developing market. Population projections indicate stability or decline, suggesting reduced housing demand pressures, benefiting potential buyers.

Castlemaine has strong levels of nearby infrastructure activity, ranking in the top 30% nationally

Changes in local infrastructure significantly affect an area's performance. AreaSearch has identified ten projects that could impact this region. Notable ones are Levee Banks Project, Frederick Street Precinct Project, Haven Castlemaine, and Castlemaine Water Reclamation Plant Upgrade. The following details those likely to be most relevant.

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

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Castlemaine has seen below average employment performance when compared to national benchmarks

Castlemaine has a highly educated workforce with strong representation in essential services sectors. Its unemployment rate is 3.7%, with an estimated employment growth of 1.9% over the past year, as per AreaSearch's aggregation of statistical area data. As of September 2025, 3,112 residents are employed, while the unemployment rate is 0.1% lower than Rest of Vic.'s rate of 3.8%.

Workforce participation in Castlemaine lags behind at 48.0%, compared to Rest of Vic.'s 61.4%. A significant proportion of residents work from home, with 32.7% doing so according to Census responses. Leading employment industries include health care & social assistance, education & training, and retail trade. Castlemaine shows a strong specialization in professional & technical services, with an employment share 1.9 times the regional level.

Conversely, agriculture, forestry & fishing is under-represented, with only 1.4% of Castlemaine's workforce compared to Rest of Vic.'s 7.5%. Employment opportunities locally may be limited, as indicated by the count of Census working population versus resident population. Between September 2024 and September 2025, employment increased by 1.9%, while labour force rose by 2.7%, leading to a rise in unemployment rate by 0.7 percentage points. In contrast, Rest of Vic. saw employment contraction by 0.7% and labour force fall by 0.6%. Jobs and Skills Australia's national employment forecasts from May-25 project a 6.6% increase over five years and 13.7% over ten years for national employment. Applying these projections to Castlemaine's employment mix suggests local employment should increase by 6.5% over five years and 13.7% over ten years, based on simple weighting extrapolation for illustrative purposes only.

Income metrics place the area in the bottom 10% of locations nationally according to AreaSearch analysis

AreaSearch's latest postcode level ATO data for financial year 2023 shows that Castlemaine has lower income compared to national averages. The median income is $44,294 and the average is $57,402. In contrast, Rest of Vic.'s median income is $50,954 and average is $62,728. Based on Wage Price Index growth of 8.25% since financial year 2023, current estimates for Castlemaine are approximately $47,948 (median) and $62,138 (average) as of September 2025. According to the 2021 Census, incomes in Castlemaine fall between the 7th and 22nd percentiles nationally. The largest income segment comprises 27.9% earning $400 - $799 weekly, with 2,321 residents. Unlike surrounding regions where 30.3% earn within the $1,500 - $2,999 range. After housing costs, 86.2% of income remains, ranking at the 11th percentile nationally. Castlemaine's SEIFA income ranking places it in the 4th decile.

Castlemaine is characterized by a predominantly suburban housing profile, with above-average rates of outright home ownership

As of Castlemaine's latest Census evaluation, 92.5% of dwellings were houses, with the remaining 7.5% comprising semi-detached units, apartments, and other types. This compares to Non-Metro Vic.'s 90.1% houses and 9.9% other dwellings. Castlemaine's home ownership rate stood at 50.5%, with mortgaged properties at 25.5% and rented ones at 24%. The median monthly mortgage repayment in the area was $1,362, lower than Non-Metro Vic.'s average of $1,430. Weekly rent median was recorded at $300, compared to Non-Metro Vic.'s $285. Nationally, Castlemaine's mortgage repayments were significantly lower than the Australian average of $1,863, while rents were substantially below the national figure of $375.

Castlemaine features high concentrations of lone person households, with a lower-than-average median household size

Family households constitute 57.0% of all households, including 17.3% couples with children, 27.7% couples without children, and 11.5% single parent families. Non-family households account for the remaining 43.0%, with lone person households at 39.7% and group households comprising 3.2%. The median household size is 2.0 people, smaller than the Rest of Vic. average of 2.4.

Castlemaine shows strong educational performance, ranking in the upper quartile nationally when assessed across multiple qualification and achievement indicators

In Castlemaine, 39.1% of residents aged 15 years or above hold university qualifications, surpassing broader benchmarks such as the 21.7% in the rest of Victoria and 25.4% in the SA4 region. The area's educational attainment is notably higher with a significant proportion holding vocational credentials at 26.8%. Bachelor degrees are the most common at 22.0%, followed by postgraduate qualifications at 10.9% and graduate diplomas at 6.2%. Vocational credentials include advanced diplomas held by 11.9% of residents aged 15 years or above, and certificates held by 14.9%. Educational participation is high with 32.5% of residents currently enrolled in formal education.

This includes 10.7% in primary education, 9.8% in secondary education, and 5.3% pursuing tertiary education.

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

Castlemaine has 42 active public transport stops offering a mix of train services. These are covered by 15 different routes, providing a total of 531 weekly passenger trips. Transport accessibility is rated as good, with residents on average located 326 meters from the nearest stop. Most residents commute outward daily, primarily using cars (79%). Walking and cycling account for 9% and 4% respectively. Vehicle ownership averages 1.0 per dwelling, below the regional average.

According to the 2021 Census, a high 32.7% of residents work from home, potentially due to COVID-19 conditions. Service frequency across all routes averages 75 trips per day, equating to approximately 12 weekly trips per individual stop.

Health outcomes in Castlemaine are marginally below the national average with common health conditions slightly more prevalent than average across both younger and older age cohorts

Castlemaine's health indicators show below-average outcomes based on AreaSearch's assessment. Mortality rates and chronic condition prevalence are higher than average for both younger and older age groups.

Private health cover is relatively low at approximately 50% of the total population (~4,125 people), compared to the national average of 55.7%. The most common medical conditions are arthritis (12.1%) and mental health issues (10.8%). 58.9% of residents report no medical ailments, compared to 63.4% in Rest of Vic. Working-age population faces notable health challenges due to elevated chronic condition rates. The area has a higher proportion of seniors aged 65 and over at 31.2%, with 2,596 people, compared to 23.9% in Rest of Vic. Health outcomes among seniors are above average, ranking even higher than the general population nationally.

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

Castlemaine's cultural diversity was found to be below average, with 83.2% of its population being citizens, 84.5% born in Australia, and 95.3% speaking English only at home. The dominant religion in Castlemaine is Christianity, comprising 28.8% of the population. However, Judaism is notably overrepresented, making up 0.2% compared to 0.1% across the rest of Victoria.

In terms of ancestry, the top three groups are English (32.0%), Australian (25.5%), and Irish (13.2%). Other ethnic groups with notable differences in representation include Scottish at 11.2% (vs regional 8.8%), Welsh at 0.8% (vs 0.4%), and Hungarian at 0.3% (vs 0.2%).

Castlemaine ranks among the oldest 10% of areas nationwide

The median age in Castlemaine is 52 years, significantly higher than the Rest of Vic.'s average of 43 and well above the national norm of 38. The 75-84 age cohort is notably over-represented in Castlemaine at 10.9%, while the 15-24 age group is under-represented at 6.6%. Between 2021 and present, the proportion of residents aged 35 to 44 has grown from 12.3% to 14.0%, while those aged 65 to 74 have declined from 16.1% to 15.0%. By 2041, population forecasts indicate significant demographic changes. The 85+ cohort is projected to grow by 20%, adding 88 residents to reach 530. Senior residents aged 65 and above will drive all population growth, highlighting demographic aging trends. Conversely, both the 45-54 and 0-4 age groups are expected to decrease in number.