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, the suburb of Castlemaine's population is estimated at around 7,306 as of May 2026. This reflects a decrease of 200 people (2.7%) since the 2021 Census, which reported a population of 7,506 people. The change is inferred from the resident population of 7,286, estimated by AreaSearch following examination of the latest ERP data release by the ABS in June 2025 and an additional 72 validated new addresses since the Census date. This level of population equates to a density ratio of 368 persons per square kilometer, providing significant space per person and potential room for further development. Population growth for the area 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 459 persons by 2041 according to this methodology. However, growth across specific age cohorts is anticipated, led by the 85 and over age group, which is projected to grow by 112 people.

Recent residential development output has been above average within Castlemaine when compared nationally

AreaSearch analysis of ABS building approval numbers allocated from statistical area data shows Castlemaine averaged around 48 new dwelling approvals annually. Between FY-21 and FY-25, an estimated 243 homes were approved, with a further 23 approved so far in FY-26. Over these five financial years, an average of 2 new residents per year per dwelling was observed.

This indicates a balanced supply and demand market supporting stable conditions. The average construction value for 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, indicating strong commercial development momentum.

Compared to Rest of Vic., Castlemaine has similar development levels per person, maintaining market equilibrium consistent with surrounding areas. New building activity comprises 88.0% standalone homes and 12.0% attached dwellings, preserving the area's low density nature and appealing to space-seeking buyers. With around 224 people per dwelling approval, Castlemaine exhibits characteristics of a low-density area. Population projections indicating stability or decline suggest reduced housing demand pressures, benefiting potential buyers in the area.

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

Changes to local infrastructure significantly impact an area's performance. AreaSearch identified ten projects likely influencing the region. Notable initiatives include Levee Banks Project, Frederick Street Precinct Project, Haven Castlemaine, and Castlemaine Water Reclamation Plant Upgrade. The following details projects expected to have the most relevance.

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

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Despite maintaining a low unemployment rate of 3.5%, Castlemaine has experienced recent job losses, resulting in a below average employment performance ranking when compared nationally

Castlemaine has an educated workforce with prominent representation in essential services. Its unemployment rate was 3.5% as of December 2025, which is 0.2% lower than Regional Vic.'s rate of 3.7%. However, workforce participation lags behind Regional Vic., at 46.9% compared to 61.0%.

According to Census responses, 32.7% of residents work from home, potentially influenced by Covid-19 lockdowns. Employment is concentrated in health care & social assistance, education & training, and retail trade. The area specializes in professional & technical jobs, with an employment share 1.9 times the regional level, but agriculture, forestry & fishing is under-represented at 1.4% compared to Regional Vic.'s 7.5%. Over a 12-month period ending December 2025, Castlemaine's labour force increased by 0.1%, while employment decreased by 0.2%, leading to an unemployment rate rise of 0.2 percentage points.

In contrast, Regional Vic. saw an employment decline of 0.6% and a labour force decline of 0.7%, with unemployment falling 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 Castlemaine's employment mix suggests local employment should increase by 6.5% over five years and 13.7% over ten years, though this is a 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 ending June 2023 shows that median income in Castlemaine is $44,294, with an average income of $57,402. This is lower than the national averages of $50,954 (median) and $62,728 (average) for Regional Victoria. Based on Wage Price Index growth of 9.62% from July 2023 to March 2026, estimated median income in Castlemaine would be approximately $48,555, with an average income of around $62,924 by March 2026. The 2021 Census data indicates that incomes in Castlemaine fall between the 7th and 22nd percentiles nationally. Most residents (27.9%, or 2,038 individuals) earn between $400 to $799 weekly, compared to the metropolitan region's leading bracket of $1,500 to $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

Dwelling structure in Castlemaine, as evaluated at the latest Census held on 28 August 2016, comprised 92.5% houses and 7.5% other dwellings (semi-detached, apartments, 'other' dwellings), compared to Regional Vic.'s 90.1% houses and 9.9% other dwellings. The level of home ownership within Castlemaine was 50.5%, with the remainder of dwellings either mortgaged at 25.5% or rented at 24.0%. The median monthly mortgage repayment in the area, as of June quarter 2019, was $1,362, while the median weekly rent figure was recorded at $300, compared to Regional Vic.'s $1,430 and $285 respectively. Nationally, Castlemaine's mortgage repayments are significantly lower than the Australian average of $1,863, as of June quarter 2019, while rents are substantially below the national figure of $375 for the same period.

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

Family households account for 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 constitute the remaining 43.0%, with lone person households at 39.7% and group households comprising 3.2% of the total. The median household size is 2.0 people, which is smaller than the Regional 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 and above have university qualifications, compared to 21.7% in the rest of Victoria and 25.4% in the SA4 region. Bachelor degrees are most prevalent at 22.0%, followed by postgraduate qualifications at 10.9% and graduate diplomas at 6.2%. Vocational credentials are held by 26.8% of residents, with advanced diplomas at 11.9% and certificates at 14.9%. Educational participation is high, with 32.5% currently enrolled in formal education. This includes 10.7% in primary education, 9.8% in secondary education, and 5.3% pursuing tertiary education.

Educational participation is notably 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 that collectively facilitate 531 weekly passenger trips. The area's transport accessibility is rated as good, with residents typically situated 326 meters from the nearest stop. As a predominantly residential zone, most commuters travel outward. Cars remain the primary mode of transport at 79%, with walking and cycling accounting for 9% and 4% respectively. On average, there's one vehicle per dwelling, lower than the regional norm.

Notably, 32.7% of residents work from home (as per the 2021 Census, potentially influenced by COVID-19 conditions). Service frequency averages 75 trips daily across all routes, translating to roughly 12 weekly trips per individual stop.

Health performance in Castlemaine is lower than average with common health conditions somewhat prevalent across both younger and older age cohorts

Castlemaine faces significant health challenges based on AreaSearch's assessment. Mortality rates and chronic condition prevalence are high, with common health conditions prevalent across both younger and older age cohorts.

Private health cover is relatively low at approximately 50% of the total population (~3,622 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%). However, 58.9% of residents declare themselves completely clear of medical ailments, compared to 63.4% across Regional Vic.. The working-age population faces notable health challenges with elevated chronic condition rates. The area has 32.9% of residents aged 65 and over (2,403 people), which is higher than the 23.9% in Regional Vic.. Health outcomes among seniors are above average, with national rankings even higher than 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'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 predominant religion in Castlemaine is Christianity, comprising 28.8% of the population. Notably, Judaism is overrepresented, making up 0.2% compared to 0.1% across Regional Vic.

In terms of ancestry, the top three groups are English (32.0%), Australian (25.5%), and Irish (13.2%). Other ethnic groups show notable differences: Scottish is overrepresented 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, which is significantly higher than Regional Vic.'s average of 43 and well above the national norm of 38. The 75-84 cohort is notably over-represented in Castlemaine at 11.6%, compared to Regional Vic.'s average of 9.2% and the national average of 6.1%. Conversely, the 15-24 year-olds are under-represented at 6.7%, compared to Regional Vic.'s average of 8.3%. Between 2021 and present, the 35-44 age group has grown from 12.3% to 13.7% of the population, while the 55-64 cohort has declined from 14.1% to 13.1%. Population forecasts for Castlemaine in 2041 indicate substantial demographic changes, with the 85+ cohort projected to grow by 26%, adding 108 residents to reach 532. In contrast, population declines are projected for the 5-14 and 15-24 cohorts.