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This analysis uses Suburbs and Localities (SAL) boundaries, which can materially differ from Statistical Areas (SA2) even when sharing the same name.
SAL boundaries are defined by Australia Post and the Australian Bureau of Statistics to represent commonly-known suburb names used in postal addresses.
Statistical Areas (SA2) are designed for census data collection and may combine multiple suburbs or use different geographic boundaries. For comprehensive analysis, consider reviewing both boundary types if available.
est. as @ -- *
2021 Census | -- people
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Drouin has an estimated 16,875 residents, up from 15,287 at the 2021 Census — a change of 1,588 people, or 10.4%. Growth has averaged 2.6% a year over five years. 346 new addresses have been validated here since Census night. Interstate and internal migration accounts for 77.0% of that increase. That puts 322 residents on each square kilometre. Population is estimated from ABS Estimated Resident Population releases and GNAF address data, re-based from the 2021 Census and updated annually.
Detail
According to AreaSearch evaluations combining broader regional ABS releases with verified post-Census address records, the suburb of Drouin reached an estimated 16,875 residents by Aug 2026. This represents an addition of 1,588 people (10.4%) compared to the 2021 Census benchmark of 15,287 people. This total builds upon an ERP figure of 16,823 determined from the ABS release in June 2025 alongside 346 validated new addresses documented following the Census date. With a density of 322 persons per square kilometer, the locality offers ample physical space and capacity to support prospective expansion.
The suburb of Drouin outpaced both Rest of Vic. (4.4%) and its overarching SA4 region with its 10.4% post-2021 Census surge, positioning it among the top growth areas locally. Interstate arrivals served as the principal catalyst by generating roughly 77.0% of recent population additions, while overseas migration and natural growth also registered positive contributions. Projections published by ABS/Geoscience Australia in 2024 (using 2022 as their baseline) form the foundation of AreaSearch modelling across SA2 locations, supplemented where needed by 2023 VIC State Government Regional/LGA figures adjusted via population-weighted distribution down to the SA2 tier. These aggregated models also inform cohort-specific trends projected between 2032 and 2041. Over the coming years, the suburb of Drouin is positioned in the upper quartile of regional, non-metropolitan growth destinations, with aggregated SA2 figures pointing to an expansion of 5,616 persons through to 2041, representing a cumulative rise of 33.0% across the 16 years.
Frequently Asked Questions - Population
835 new dwellings have been approved in Drouin over the past five years, an average of 167 a year. That places the area in the 92nd percentile for residential development activity nationally, about 10 approvals per 1,000 residents a year. Of the 159 dwellings approved in the latest reporting year, 94% were detached houses and the rest townhouses or apartments. Approvals are currently running at an annualised 161, broadly in line with that longer-run average. Figures come from ABS building approvals aggregated to this Suburb (SAL) boundary and are updated monthly as the ABS releases them.
Detail
Statistical evaluations of ABS building consent records by AreaSearch indicate that Drouin averages approximately 167 residential dwelling approvals annually, totaling roughly 835 approved dwellings across the 5 financial years spanning between FY-21 and FY-25, with 161 lodged during FY-25 to date. An average influx of 2.5 people per year for each newly completed residence between FY-21 and FY-25 reflects steady demand capable of sustaining property prices, while residential construction costs average $391,000 per dwelling. Furthermore, the approval of $31.8 million in commercial projects during the current financial year underscores healthy investment by the local business sector.
Per capita residential building volumes in Drouin tracking across the 5 year period exceed the regional benchmark by 11.0% compared to Rest of Vic., providing ample options for purchasers while helping maintain local asset values. Approved residential projects consist of 94.0% detached houses alongside 6.0% townhouses or apartments, preserving a low-density suburban environment focused on standalone dwellings suited to buyers wanting larger allotments. A metric of roughly 107 people per approval highlights the active development phase underway across Drouin. According to the latest quarterly projections from AreaSearch, Drouin is anticipated to add 5,564 residents up to 2041. While residential construction currently keeps pace with these demographic forecasts, incoming buyers could face heightened competition over time as the population expands.
Frequently Asked Questions - Development
Development applications around Drouin
SOURCE: Planning portals and council registers, compiled by AreaSearch. Distance & bearing measured from the suburb midpoint.
AreaSearch tracks 15 current infrastructure and development projects inside Drouin, worth an estimated $2.19 billion. A further 44 sit in the immediately surrounding suburbs, taking the tracked pipeline within reach of the area to $9.52 billion. 25 are already under construction and 22 are due for completion within three years. The pipeline spans residential development, communities, precincts & urban renewal and transport & logistics. Records are compiled from Infrastructure Australia, state agencies, council planning portals and public announcements, reviewed and updated daily, then ranked by proximity, construction stage, completion horizon and project scale.
Detail
Local capital works, major developments, and strategic planning decisions play a critical role in shaping regional momentum. AreaSearch has pinpointed 12 key initiatives anticipated to influence the locality. Prominent works include Drouin Fields Estate, Highfields, The Fairways Drouin, and the Drouin Primary School Upgrade and Modernisation, with notable schemes outlined below.
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INFRASTRUCTURE SEARCH
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Frequently Asked Questions - Infrastructure
New West Gippsland Hospital
Planning and design for a brand new hospital on a greenfield site at Tarwin Street, Drouin to replace the aging Warragul facility. The state-funded project will provide expanded emergency, operating suites, maternity and acute care capacity for Baw Baw Shire. Victorian Health Building Authority and West Gippsland Healthcare Group are progressing site due diligence, master planning, and design.
Drouin Fields Estate
Drouin Fields is a master-planned community spanning 60.91 hectares offering approximately 680 lots across multiple stages. The estate features over 24 acres of open green spaces and natural bushland corridors, bike paths, and parks designed by Fitzgerald Frisby landscape architects. Stage 3 is now selling with titled lots available from $279k, and lot sizes range from family blocks to large 1-acre lifestyle lots. Located within minutes of Drouin Town Centre and the V-Line train station, with easy access to the Princes Freeway.
Ferntree Ridge Estate
Ferntree Ridge is a 130-hectare master-planned community by LandGipps delivering over 1,600 residential allotments alongside key civic and commercial infrastructure. The precinct incorporates a designated shopping centre site, community centre, proposed primary school, retirement living, display village, and 15 kilometres of linear parks, sporting fields, and shared walking trails. Multiple residential stages and civil construction packages have been progressively released and developed.
The Fairways Drouin
The Fairways Estate offers rural lifestyle in Gippsland's West with luxury country living and premium urban living options. Located adjacent to the Drouin Golf and Country Club, the estate features residential lots from 435m2 to 3,165m2 and half-acre country living allotments. Currently selling Stage 4 and 5 Urban Living plus Stage 4 Country Living with direct golf course access and exclusive club memberships.
Drouin Fields Master-planned Community
Drouin Fields is a master-planned residential community delivering over 300 residential lots alongside integrated open space and civil infrastructure in Baw Baw Shire. Civil works and staged residential subdivision earthworks are actively progressing across multiple construction phases.
Highfields
A vibrant masterplanned residential community of 473 lots developed by Bayport Group, occupying an elevated position overlooking Drouin at the gateway to Gippsland. The estate features over 9 hectares of wetlands, parklands, walking tracks, bike paths and recreational open space across 49 hectares. Stage 2A comprising 17 elevated allotments is now selling, with earlier stages settled or under construction.
Drouin Bypass Transport Corridor
Strategic planning, corridor identification, and feasibility assessment for a dedicated heavy vehicle bypass around the Drouin township to relieve town centre congestion on Princes Way and Hope Street. The project aims to provide an alternate arterial link connecting western and eastern approaches around Baw Baw Shire's growth areas. Planning work involves corridor reservation studies led by the Victorian Department of Transport and Planning in conjunction with Baw Baw Shire Council.
Drouin Recreation Reserve Oval Redevelopment
Comprehensive redevelopment of the main oval playing surface at Drouin Recreation Reserve by Baw Baw Shire Council. Works included the installation of a modern perched water table profile, subsoil drainage, automated irrigation, and drought-tolerant TifTuf couch grass. Ancillary upgrades delivered new perimeter fencing, concrete spectator footpaths, bench seating, and upgraded coaches' shelters.
7,902 residents of Drouin are employed, from a labour force of 8,182. Unemployment sits at 3.4%, with participation at 60.8%. Weighted for its industry mix, the area's sectors are forecast to grow about 6.2% nationally over five years. That reflects industry composition only and makes no allowance for local population growth. The working-day population is estimated at 13,319, about 79% of the resident population, so more people leave the area for work than travel in. Unemployment and labour force come from ABS Small Area Labour Markets, updated quarterly; the industry and occupation profile is from the 2021 Census.
Detail
Drouin features a balanced mix of white and blue collar jobs with strong representation in essential services, an unemployment rate of 3.4%, and an estimated employment growth of 3.2% over the previous year according to AreaSearch aggregation of statistical area data. As of March 2026, 7,902 residents are employed while the unemployment rate is 0.3% below Regional Vic.'s rate of 3.7%, and workforce participation matches Regional Vic.'s 61.1%. Census data indicates that a moderate 15.6% of residents worked from home, although the lingering effects of Covid-19 lockdowns should be taken into account.
Health care & social assistance, construction, and retail trade represent the leading sectors of employment for local residents. The construction industry is especially prominent, holding a concentration 1.4 times greater than the regional standard. Conversely, agriculture, forestry & fishing accounts for only 3.7% of resident employment, falling short of the 7.5% seen across Regional Vic.. A comparison between resident workers and Census workplace counts suggests that internal job opportunities within the immediate locality remain somewhat constrained. Analysis of SALM and ABS data, aggregated from broader statistical areas, conducted by AreaSearch, indicates that during the year to March 2026, employment rose by 3.2% and the labour force grew by 2.7%, which led to a 0.4 percentage point drop in the unemployment rate. In contrast, Regional Vic. experienced a 0.1% decline in employment, a 0.3% contraction in the labour force, and a 0.2 percentage point reduction in unemployment. Jobs and Skills Australia's national employment forecasts, published in Mar-26, provide further insight into potential future demand within Drouin. These projections, which span five and ten-year periods, have been overlaid onto the local employment profile to estimate growth patterns. While national employment is projected to expand by 6.6% over five years and 13.7% over ten years, growth rates vary considerably across industry sectors. When these industry-specific projections are applied to Drouin's employment mix, local employment is expected to increase by 6.2% over five years and 13.1% over ten years. It is important to note that this represents a simple weighting extrapolation for illustrative purposes and does not incorporate localized population projections.
Frequently Asked Questions - Employment
Median household income in Drouin is $1,432 a week (about $74,000 a year), with median personal income at $694 a week. ATO records put median taxable income at $47,984 a year against an average of $56,444. Household income is from the 2021 Census; taxable income is from ATO Taxation Statistics for the latest financial year available, indexed forward using the ABS Wage Price Index.
Detail
Median individual taxpayer earnings in the suburb of Drouin stood at $47,984 with an average of $56,444 during financial year 2023, based on postcode-level ATO records compiled by AreaSearch. These figures fall below national benchmarks as well as Regional Vic., which reported a median of $50,954 and an average of $62,728. Accounting for a 9.62% rise in the Wage Price Index since financial year 2023, updated estimates suggest figures near $52,600 (median) and $61,874 (average) as of March 2026. Across personal, family, and household categories, Census income levels place between the 27th and 31st percentiles.
Furthermore, 33.8% of individuals (5,703 individuals) fall within the $1,500 - 2,999 weekly bracket, closely tracking the 30.3% regional benchmark. Substantial mortgage and rental commitments leave residents with 83.9% of income remaining, placing the area at the 31st percentile for housing affordability.
Frequently Asked Questions - Income
Drouin had 5,730 occupied dwellings at the 2021 Census, 90% detached houses and 4% apartments. 42% are owned with a mortgage, 22% rented and 37% owned outright. At that Census the median rent was $330 a week and the median mortgage repayment $1,647 a month. Rent absorbs 23.0% of household income here and mortgage repayments 26.5%. Dwelling stock, tenure and housing costs are 2021 Census measures — the only source that counts dwellings at this boundary size.
Detail
Census data shows that the housing stock in Drouin is composed of 89.9% houses and 10.1% other dwellings (incorporating semi-detached units, apartments, and alternative structures), aligning closely with the 90.1% houses and 9.9% other dwellings recorded across Regional Vic.. Fully owned properties accounted for 36.5% of residences, trailing regional levels, while remaining properties were either mortgaged (41.5%) or rented (22.0%). Typical monthly mortgage commitments stood at $1,647 and median weekly rent reached $330, both exceeding the Regional Vic. medians of $1,430 and $285. In a nationwide context, housing expenses in Drouin remain lower than the Australian benchmarks of $1,863 for monthly mortgages and $375 for weekly rent.
Frequently Asked Questions - Housing
Drouin counted 5,730 households at the 2021 Census, an estimated 6,325 today, averaging 2.5 people each. 29% are couples with children, against 31% couples without children. 25% of households are people living alone, and families average 1.9 children. Household and family composition is measured only by the Census, so these are 2021 figures.
Detail
Families constitute the vast majority of local living arrangements at 72.7% of all households, encompassing couples without children (30.6%), couples with children (29.2%), and single parent families (11.8%). Non-family living situations make up the remaining 27.3%, consisting of lone person households (25.4%) and group households (2.1%). The median household size stands at 2.5 people, exceeding the 2.4 average found across Regional Vic..
Frequently Asked Questions - Households
16.2% of adults in Drouin hold a university qualification, including 11.2% with a bachelor degree and 2.5% with postgraduate qualifications. A further 31.4% hold a vocational qualification. 4 schools serve the area, with 3,780 enrolment places and an average ICSEA of 1,005 against a national benchmark of 1,000. Qualifications come from the 2021 Census; school enrolments, ICSEA and results come from ACARA's current release.
Detail
Tertiary educational attainment in the region presents clear ground for improvement, with 16.2% of residents holding university degrees compared to the Victorian benchmark of 33.4%. Higher education qualifications are led by bachelor degrees at 11.2%, followed by postgraduate qualifications (2.5%) and graduate diplomas (2.5%). Meanwhile, vocational and technical credentials are widespread, with 42.4% of residents aged 15+ holding vocational qualifications, consisting of advanced diplomas (11.0%) and certificates (31.4%). Formal study engagement is substantial throughout the community, with 28.0% of residents actively enrolled in an educational course. Broken down by level, this comprises 10.7% attending primary schools, 7.5% in secondary education, and 2.7% undertaking tertiary programs.
Frequently Asked Questions - Education
Schools Detail
Public transport in Drouin reaches 51 stops on 5 routes, timetabled for about 2,700 services a week. The typical home sits about 440 m from its nearest stop. Buses carry the largest share of public transport commuters. Households keep an average of 1.5 vehicles. Stop and service counts are built from operators' published GTFS timetables and refresh with each timetable release; vehicle ownership is from the 2021 Census.
Detail
Commuters within Drouin have access to 51 public transport boarding points providing train connectivity across 5 specific transit routes, generating a combined 2,730 weekly passenger services. Accessibility across the network is moderate, with dwellings positioned an average distance of 435 meters from their nearest stop. Given the suburb's residential character, outbound commuting is widespread, and private vehicles remain the dominant travel option at 95%, with households maintaining an average of 1.5 motor vehicles. Additionally, 15.6% of residents worked from home during the 2021 Census under potential COVID-19 influences. Transit schedules deliver an average volume of 390 trips daily across the network, translating to roughly 53 services per stop each week.
Frequently Asked Questions - Transport
Transport Stops Detail
61.7% of residents in Drouin report no long-term health condition, a less healthy profile than 81% of areas nationally. 7.5% need daily assistance with core activities, and 49.2% hold private health cover. The standardised death rate runs at 6.0 per 1,000 residents. Health conditions, assistance needs and insurance are 2021 Census measures; the death rate comes from current ABS releases.
Detail
AreaSearch evaluations of chronic conditions and mortality rates highlight notable health considerations in Drouin, with elevated prevalence rates recorded across both younger and older cohorts. In addition, private health insurance coverage is relatively subdued, held by approximately 49% of the population (~8,304 people) against a national average of 55.7%. Mental health conditions and arthritis represent the most prevalent diagnoses locally, affecting 10.7 and 9.8% of residents, respectively, while 61.7% of the population reported no chronic health issues compared to 63.4% across Regional Vic.. Elevated rates of long-term conditions are particularly evident among working-age individuals.
Seniors aged 65 and over comprise 21.0% of the community (3,543 people), a smaller share than the 24.0% recorded for Regional Vic., with senior health metrics broadly tracking national trends.
Frequently Asked Questions - Health
Drouin is largely Australian-born, at 86.2% of residents, with 5.2% speaking a language other than English at home. The largest reported ancestries are English (32.6%) and Australian (30.8%). Ancestry, language and country of birth are counted only by the Census, so these are 2021 figures.
Detail
Measures of cultural diversity in Drouin fall below broader benchmarks, with Australian-born residents accounting for 86.2% of the population, 90.7% holding citizenship, and 94.8% speaking only English in domestic settings. Christianity forms the predominant faith, comprising 45.7% of the community, while Judaism represents the most notable relative divergence at 0.1% of the population, matching the 0.1% level seen across Regional Vic.. English (32.6%), Australian (30.8%), and Scottish (8.1%) form the three leading ancestries recorded across Drouin based on parental birthplace. Several other backgrounds demonstrate higher relative concentrations than regional figures, including Dutch at 2.8% of Drouin (compared to 1.7% regionally), Hungarian at 0.4% (vs 0.2%), and South Australian at 0.4% (vs 0.2%).
Frequently Asked Questions - Diversity
The median resident of Drouin is 38. That is 1 year younger than at the 2021 Census. 24.5% of residents are aged 15 to 34. Age cohorts are not raw Census counts: the Census split is re-based to the latest ABS population estimates and state projections.
Detail
The age distribution in Drouin skews younger than Regional Vic. as a whole. Based on estimates updated to August 2026, 26.8% of the population falls into the young to middle aged adult band (25 - 44), outstripping the 23.1% regional benchmark, whereas middle aged and young retiree residents (45 - 64) represent 21.1% compared to 24.4% regionally. The estimated median age sits at 38, down from 39 at the 2021 Census and noticeably below the Regional Vic. median of 43 from that Census. The young to middle aged adult group expanded from 25.1% at the Census to an estimated 26.8%, and is forecasted to experience the greatest growth through to 2041 with an addition of 2,294 residents (51%) to reach 6,816.
Frequently Asked Questions - Age
Data & MethodBoundaries, Sources & Method for Drouin
9 of 14 data sections on this page were updated within the last 12 months — the newest current to Oct 2026.
Everything is aggregated to the Suburb (SAL) boundary shown above, on a 2021 Census baseline. Only 3 sections — housing, households and cultural diversity — still wait on the 2026 Census.
The ledger — source, cycle and currency by section
| Section | Source & update cycle | Currency |
|---|---|---|
| Updated within the last 12 months 9 sections | ||
| Population | ABS, GNAF, Geoscience Australia Annual (ABS ERP) | Aug 2026 2 months ago headline measures · 2021 Census baseline |
| Re-based to the ABS Estimated Resident Population (June 2025 release) and updated with new dwellings from GNAF address data. Current to Aug 2026, with the 2021 Census supplying the small-area baseline. | ||
| Age profile | ABS, Geoscience Australia, State governments Annual | Aug 2026 2 months ago headline measures · 2021 Census baseline |
| Age cohorts are re-based to the latest ABS population estimates and state projections, current to Aug 2026. Each cohort is held as a Census baseline and a current estimate. | ||
| Development & approvals | ABS, GNAF Monthly (ABS approvals) | Aug 2026 2 months ago headline measures · Jul 2026 baseline |
| Property sales & rents | Valuer General, Rental Board, ABS Weekly sales, quarterly rents | Oct 2026 this month headline measures · Sep 2026 baseline |
| Sales from the state Valuer General register, refreshed weekly, and rents from quarterly rental bond lodgements. Both are read live each time this page loads, current to Oct 2026. | ||
| Infrastructure projects | Infrastructure Australia, State agencies, Local governments Daily | Sep 2026 last month all 15 projects tracked here |
| Project pipeline maintained continuously from Infrastructure Australia, state agencies, local government and public announcements. Records are added and revised daily; this area was last updated Sep 2026. | ||
| Employment | ABS, DEWR, JSA Quarterly (ABS SALM) | Mar 2026 7 months ago headline measures · 2021 Census baseline |
| Unemployment and labour force from ABS Small Area Labour Markets, current to Mar 2026. The growth outlook applies Department of Employment (now Jobs and Skills Australia) forecasts for all 19 industry divisions to the local industry mix, so it measures sector composition rather than local expansion and makes no allowance for population growth. Job demand comes from the same agency via its Internet Vacancy Index; industry and occupation structure from the 2021 Census. | ||
| Education | ABS, ACARA Annual (ACARA) | Sep 2026 last month headline measures · 2021 Census baseline |
| Transport | ABS, State Transport Departments Each timetable release | Jul 2026 3 months ago headline measures · 2021 Census baseline |
| Services & amenities | Provider directories, ACECQA Continuous | Sep 2026 last month all 14 measures |
| Annual and financial-year sources 2 sections | ||
| Income | ABS, ATO Annual (ATO) | FY 2023 3 years ago headline measures · 2021 Census baseline |
| ATO taxable income statistics for FY 2023, indexed forward using the Wage Price Index. Census household income provides the distribution detail. | ||
| Health | ABS, ATO Annual | 2024 2 years ago headline measures · 2021 Census baseline |
| Census-measured — next update: 2026 Census 3 sections No more current small-area source exists for these, so they are labelled as Census-measured rather than implied to be current. | ||
| Housing | ABS 5-yearly (Census) | 2021 Census next update 2026 all 30 measures |
| Households | ABS 5-yearly (Census) | 2021 Census next update 2026 all 18 measures |
| Cultural diversity | ABS, Geoscience Australia 5-yearly (Census) | 2021 Census next update 2026 all 44 measures |
"Currency" is the most recent release feeding that section. Where the Census supplies the structural baseline underneath a current headline figure, the row says so.
How the numbers are built
Population
The Census provides the small-area baseline, aggregated from mesh blocks to this boundary. It is then re-based to the ABS Estimated Resident Population (June 2025 release), and new dwellings built since Census night are counted from address data — 346 validated new addresses here. The headline figure is therefore a current estimate for Aug 2026, not a 2021 count (15,287 at the 2021 Census → 16,875 now). Annual growth rates are compound (CAGR), not simple averages.
Age profile
Cohort shares are not raw Census counts. Every cohort is held as a pair — the Census baseline and a current estimate — and the split is re-based using ERP and state population projections, current to Aug 2026. Median age is the Census median plus modelled change since. Charts that show both are labelled "2021 Census vs Current Estimate".
Property sales
Sourced from the state valuation authority's sales register — current, not Census, and refreshed weekly. Medians are calculated from settled transactions in the period shown; periods with very low transaction counts are flagged or suppressed, because a handful of sales can move a median substantially.
Rents
Derived from state rental bond lodgement data, by dwelling type and bedroom count. Bonds are lodged at the start of a new tenancy, so this reflects new lettings, not the whole rented stock.
Development & infrastructure
Building approvals come from current ABS releases; development applications are collected from council and state planning portals; the infrastructure pipeline is compiled from Infrastructure Australia and local government sources. Applications are matched to this boundary by address or coordinates, so very recent lodgements may not yet appear.
Employment & income
Industry and occupation structure comes from the Census, but the headline labour-market indicators do not. Unemployment and labour force are derived from ABS Small Area Labour Markets (quarterly). The employment outlook applies Department of Employment forecasts for all 19 industry divisions to this area's own industry mix (the agency is now Jobs and Skills Australia), as does the Internet Vacancy Index used for job demand. Because it is weighted on industry composition alone, that outlook carries no allowance for local population growth — in fast-growing areas the real rise in local jobs will typically be higher. Income combines Census household income with ATO taxable-income statistics for FY 2023, indexed forward using the Wage Price Index.
Education, transport & amenities
School enrolments, ICSEA and performance come from ACARA's current release, not the Census. Public transport stops and service frequency are derived from GTFS timetable feeds published by state transport departments. Services and amenities are proximity and count scores built from provider directories, refreshed on their own cycle. The Census contributes only the travel-to-work and qualification measures.
Rankings and benchmarks. Where we rank this area, the comparison set is every area of the same boundary type — suburbs against suburbs, SA2s against SA2s. Benchmarks compare this area against its greater capital city region and the national figure for the same measure and period.
Limits worth knowing. Small areas carry larger error margins, and the ABS introduces small random adjustments to Census counts to protect confidentiality — so totals may not sum exactly. Estimates re-based from regional data describe the area's expected trajectory, not a direct count of it. Figures are indicative for research and are not financial, planning or valuation advice.
Cross-check us. The Census baseline for this boundary is at ABS 2021 Census QuickStats (SAL20790). QuickStats reports 2021 only — the figures on this page are more current wherever the ledger shows a later date.