Castlemaine

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

Based on analysis of ABS population updates for the broader area, and new addresses validated by AreaSearch, Castlemaine's population is estimated at around 8,321 as of Feb 2026. This reflects an increase of 815 people (10.9%) since the 2021 Census, which reported a population of 7,506 people. The change is inferred from the resident population of 7,750, estimated by AreaSearch following examination of the latest ERP data release by the ABS in June 2024 and an additional 69 validated new addresses since the Census date. This level of population equates to a density ratio of 420 persons per square kilometer. Castlemaine's 10.9% growth since the 2021 census exceeded the SA3 area (6.8%), along with the SA4 region, marking it as a growth leader in the region. Population growth for the suburb was primarily driven by interstate migration that contributed approximately 57.99999999999999% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, as released in 2024 with 2022 as the base year. For any SA2 areas not covered by this data, AreaSearch is utilising the 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 from these aggregations are also applied across all areas for years 2032 to 2041. Considering the projected demographic shifts, over this period, projections indicate a decline in overall population, with the suburb's population expected to decline by 368 persons by 2041 according to this methodology. However, growth across specific age cohorts is anticipated, led by the 35 to 44 age group, which is projected to grow by 117 people.

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

AreaSearch analysis of ABS building approval numbers in Castlemaine shows an average of around 48 new dwelling approvals annually. Between FY-21 and FY-25, approximately 243 homes were approved, with another 16 approved so far in FY-26. This results in about 1.2 new residents per year per dwelling constructed over the past five financial years, indicating a balanced supply and demand market with stable conditions.

The average construction cost value of new properties is $466,000, suggesting developers are targeting the premium market segment with higher-end properties. In FY-26, commercial approvals totalled $84.5 million, demonstrating strong commercial development momentum. Compared to Rest of Vic., Castlemaine has similar development levels per person, maintaining market equilibrium consistent with surrounding areas.

Building activity consists of 88.0% standalone homes and 12.0% attached dwellings, preserving the area's low density nature and attracting space-seeking buyers. With around 222 people per dwelling approval, Castlemaine exhibits a developing market. Population projections indicating stability or decline should reduce housing demand pressures, benefiting potential buyers in the future.

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

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified ten projects likely to impact the region. Notable ones include Levee Banks Project, Frederick Street Precinct Project, Haven Castlemaine, and Castlemaine Water Reclamation Plant Upgrade. The following list details those expected to be 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.

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

Castlemaine has a well-educated workforce with significant representation in essential services sectors. Its unemployment rate is 3.5%, and there was an estimated employment growth of 1.7% over the past year based on AreaSearch's aggregation of statistical area data. As of December 2025, 3,123 residents are employed while the unemployment rate is 0.2% lower than Regional Vic.'s rate of 3.7%.

Workforce participation in Castlemaine lags behind Regional Vic., at 47.7% compared to 61.5%. According to Census responses, 32.7% of residents work from home, potentially influenced by Covid-19 lockdown impacts. The leading employment industries among residents are health care & social assistance, education & training, and retail trade. Castlemaine shows 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 7.5% in Regional Vic.. The area appears to have limited local employment opportunities, as indicated by the difference between the Census working population and resident population count. Over a 12-month period ending December 2025, employment increased by 1.7% while labour force increased by 1.8%, leading to a rise in unemployment rate of 0.2 percentage points. In contrast, Regional Vic. experienced an employment decline of 0.6% and labour force decline of 0.7%, with a drop in unemployment rate of 0.1 percentage point. Jobs and Skills Australia's national employment forecasts from May-25 suggest that national employment should expand by 6.6% over five years and 13.7% over ten years. Applying these projections to Castlemaine's employment mix, local employment is estimated to increase by 6.5% over five years and 13.7% over ten years.

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 income in Castlemaine is lower than average nationally. The median income is $44,294 and the average is $57,402. In Regional Vic., 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 rank between the 7th and 22nd percentiles nationally. The largest income segment comprises 27.9% earning $400 - $799 weekly, with 2,321 residents. In contrast, the metropolitan region's largest segment is $1,500 - $2,999 at 30.3%. 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

In Castlemaine, as per the latest Census evaluation, 92.5% of dwellings were houses while 7.5% comprised semi-detached homes, apartments, and other types. This compares to Regional Vic.'s 90.1% houses and 9.9% other dwellings. Home ownership in Castlemaine stood at 50.5%, with mortgaged properties at 25.5% and rented ones at 24.0%. The median monthly mortgage repayment was $1,362, lower than Regional Vic.'s average of $1,430. Median weekly rent in Castlemaine was recorded at $300, compared to Regional Vic.'s $285. Nationally, Castlemaine's median monthly mortgage repayments were significantly lower at $1,362 versus the Australian average of $1,863, and 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, which is smaller than the Regional Victorian average of 2.4.

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

Educational attainment in Castlemaine is notable with 39.1% of residents aged 15 and above holding university qualifications compared to 21.7% in the Rest of Vic. and 25.4% in the SA4 region. Bachelor degrees are most prevalent at 22.0%, followed by postgraduate qualifications (10.9%) and graduate diplomas (6.2%). Vocational credentials are also prominent, with 26.8% of residents aged 15 and above holding such qualifications – advanced diplomas at 11.9% and certificates at 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, including train stations. These are served by 15 routes offering a total of 531 weekly passenger trips. Transport accessibility is good, with residents located an average of 326 meters from the nearest stop. Most commutes are outward-bound due to the residential nature of the area. Cars dominate as the primary mode of transport at 79%, followed by walking at 9% and cycling at 4%. Vehicle ownership averages one per dwelling, lower than the regional average.

According to the 2021 Census, 32.7% of residents work from home, which may be influenced by COVID-19 conditions. Service frequency across all routes averages 75 trips per day, equating to approximately 12 weekly trips per 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 results based on AreaSearch's assessment of mortality rates and chronic condition prevalence. Common health conditions are slightly more prevalent than average across both younger and older age groups.

Private health cover is relatively low at approximately 50% of the total population, around 4,125 people, compared to the national average of 55.7%. The most common medical conditions in the area are arthritis (12.1%) and mental health issues (10.8%), while 58.9% of residents claim to be completely clear of medical ailments, compared to 63.4% across Regional Vic. The working-age population faces notable health challenges due to elevated chronic condition rates. Castlemaine has 31.4% of residents aged 65 and over (2,612 people), higher than the 23.9% in Regional Vic. Health outcomes among seniors are above average, with national rankings even higher than those of the general population.

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

Castlemaine, as per the findings, had a below average cultural diversity level with 83.2% of its population being citizens born in Australia speaking English only at home, totaling 95.3%. Christianity was the predominant religion, accounting for 28.8% of Castlemaine's population. Notably, Judaism was overrepresented at 0.2%, compared to Regional Vic's 0.1%.

The top three ancestry groups were English (32.0%), Australian (25.5%), and Irish (13.2%). Other ethnic groups with notable divergences included 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

Castlemaine's median age is 51 years, which is significantly higher than the Regional Victoria average of 43 years and considerably older than the Australian median of 38 years. Compared to the Regional Victoria average, the 75-84 age cohort is notably over-represented in Castlemaine at 11.0%, while the 15-24 age group is under-represented at 6.7%. According to post-2021 Census data, the 35 to 44 age group has increased from 12.3% to 14.1% of Castlemaine's population. Conversely, the 65 to 74 age cohort has decreased from 16.1% to 15.0%. By 2041, Castlemaine is projected to experience notable shifts in its age composition. Leading this demographic shift, the 85+ age group is expected to grow by 21%, reaching 543 people from a previous total of 449. The aging population trend is clear, with those aged 65 and above comprising 91% of projected growth. Conversely, both the 0-4 and 25-34 age groups are projected to decrease in number.