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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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Koo Wee Rup has an estimated 4,473 residents, up from 4,047 at the 2021 Census — a change of 426 people, or 10.5%. Growth has averaged 2.2% a year over five years. Interstate and internal migration accounts for 76.0% of that increase. Density is about 76 people per 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
As of Aug 2026, the suburb of Koo Wee Rup has an estimated population of around 4,473, determined through AreaSearch's evaluation of broader ABS population revisions alongside post-Census validated address counts. Compared to the 4,047 residents recorded in the 2021 Census, this indicates an expansion of 426 people (10.5%). This figure builds upon an estimated resident population of 4,341 derived from the June 2025 ABS ERP release, supplemented by 91 validated new addresses identified following the Census. The suburb maintains a density of 75 persons per square kilometer, providing generous space per capita and capacity for incoming development.
Outpacing Victoria's 9.5% expansion as well as the national benchmark, the 10.5% rate of population growth since the 2021 census positions the area among the region's fastest-growing localities. Net interstate migration served as the primary growth catalyst, generating roughly 76.0% of recent population additions, alongside positive contributions from natural increase and net overseas arrivals. Population modeling across statistical areas utilizes 2024 ABS/Geoscience Australia projections pegged to a 2022 baseline, with remaining localities modeled on 2023 Victorian State Government Regional/LGA projections converted via weighted aggregation from LGA to SA2 geographies. Age cohort growth rates derived from these datasets are carried forward across all localities for the period spanning 2032 to 2041. Applying this methodology to anticipated demographic adjustments, overall resident counts in the suburb of Koo Wee Rup are projected to contract by 754 persons by 2041. In contrast to this broad contraction, certain cohorts will expand, most notably the 85 and over demographic with a projected gain of 196 people. See the age section for more details.
Frequently Asked Questions - Population
97 new dwellings have been approved in Koo Wee Rup over the past five years, an average of 19 a year. That places the area in the 70th percentile for residential development activity nationally, about 4 approvals per 1,000 residents a year. Approvals are currently running at an annualised 20, 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
Analysis of building approvals shows that residential development in Koo Wee Rup has averaged around 19 dwellings approved each year, representing an aggregate of 97 homes across the past 5 financial years. Within FY-25 to date, 20 residential approvals have been logged. With an average of 6.9 new residents arriving annually per newly constructed dwelling over the past 5 financial years (between FY-21 and FY-25), building activity remains well behind local demand, creating competitive market dynamics that place upward pressure on property values. Approved residential projects carry an average construction cost of $402,000, aligning with regional averages.
Concurrently, non-residential building activity remains subdued, with only $4,000 worth of commercial approvals registered during the current financial year. Per capita residential development in Koo Wee Rup is considerably lower than the broader metropolitan benchmark, sitting 67.0% below the Greater Melbourne average per person. Although construction activity has strengthened in recent times, this limited supply of incoming housing tends to underpin asset values across existing stock. Dwelling delivery also trails national benchmarks, reflecting an established urban fabric and local planning constraints. Low-density living remains the dominant feature of the building pipeline, where detached houses account for 93.0% of newly approved dwellings compared to 7.0% for medium and high-density formats, continuing to cater to space-oriented purchasers. The current development density ratio sits at roughly 201 people per approved home. Given expectations of a flat or contracting population base, housing pressure throughout Koo Wee Rup is likely to soften, potentially enhancing purchasing opportunities across the local property market.
Frequently Asked Questions - Development
Development applications around Koo Wee Rup
SOURCE: Planning portals and council registers, compiled by AreaSearch. Distance & bearing measured from the suburb midpoint.
AreaSearch tracks 109 current infrastructure and development projects close to Koo Wee Rup, worth an estimated $35.3 billion. 41 are already under construction and 46 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
Strategic infrastructure investments and regional planning projects play a critical role in local performance. AreaSearch has identified 1 major project with direct local significance. Notable surrounding initiatives include Costco Pakenham Warehouse, City of Casey Capital Works Program 2025/26, South East Melbourne Recycled Water Supply Infrastructure Upgrades, and Additional VLocity Trains.
Professional plan users can use the search below to filter and access additional projects.
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Frequently Asked Questions - Infrastructure
Cardinia Motor Recreation and Education Park
Proposed multi-purpose motorsport and driver education precinct at McGregor Road and Key Lane. The project features a 3.6 km FIA-grade circuit, karting facilities, skid pan, and driver training areas. While the Development Plan was approved in 2019, the project stalled following the 2021 withdrawal of the private developer Podium 1. As of May 2026, the project remains in the planning and advocacy phase, with Cardinia Shire Council seeking new investment and government support to resume delivery.
Hardys Road Corridor Development
Major road infrastructure including sealing and construction between Berwick-Cranbourne Road and Pound Road, supporting residential growth in Caseys south-east growth corridor. The upgrade includes drainage, eight new intersections, and a signalised intersection at Berwick-Cranbourne Road.
Cardinia Road Infrastructure Upgrades
Third-party developers are delivering staged road upgrade works on Cardinia Road in Officer South, in line with the Cardinia Road Employment Precinct Structure Plan (PSP) endorsed in 2010. Works include a new roundabout at Cardinia Road and Centenary Boulevard (under construction, due mid-2026), duplication of Cardinia Road between the freeway roundabout and Kaduna Business Park entrance at Wedgetail Avenue, further upgrades to the freeway roundabout intersection with duplication of the southern exit ramp, and future footpath connections.The roundabout at Cardinia Road and the Kaduna Business Park entrance is complete. Works are jointly funded by PSP contributions and the surrounding estate developers.
Pakenham Community Hospital
The Pakenham Community Hospital is a dedicated public healthcare facility being delivered by the Victorian Health Building Authority in partnership with Monash Health. Built by Lendlease, the multi-level facility provides urgent care, dialysis, chemotherapy, public dental, and allied health services. Main structural works reached completion in 2026 ahead of final fit-out and clinical commissioning.
Clyde Regional Park
Clyde Regional Park is a planned 120-hectare regional park on Bunurong Country in Clyde, co-located with the future Clyde Park Sports Precinct and Melbourne Water drainage basin. Parks Victoria has completed the draft master plan and consultation closed on 3 December 2025, with the final master plan expected in early to mid 2026. The project will restore and revegetate the site, protect biodiversity and cultural values, and create new accessible open-space, walking, picnic, play and nature-based recreation opportunities for Clyde and surrounding growth communities.
Pakenham Place Shopping Centre Redevelopment
Approved redevelopment and refurbishment of Pakenham Place Shopping Centre by Banco Group and Leaf Corporation. The concept retains Coles and adds Aldi as a second supermarket, fresh food, cafes, restaurants, specialty shops and a laneway-style Eat Street food precinct between the car park and main centre. The developer and centre websites still promote the redevelopment and leasing, but recent reporting indicates the broader centre has remained partly vacant and stalled, so timing is uncertain rather than active construction.
Kala Estate
A masterplanned residential community in Pakenham East featuring 500+ homes with a central park, playground, green belt, and natural wetlands. Construction is actively underway with Stages 1 and 2 nearing completion and strong progress along Mount Ararat South Road as of April 2026.
Pakenham Roads Upgrade
Three-stage road upgrade in Pakenham comprising upgrades to the Princes Freeway interchanges, McGregor Road and Racecourse Road. The project delivered additional traffic lanes, upgraded freeway ramps and bridges, signalised intersections, improved bus access, and new walking and cycling paths. The final Racecourse Road stage was completed ahead of schedule in mid-2026.
2,099 residents of Koo Wee Rup are employed, from a labour force of 2,157. Unemployment sits at 2.7%, with participation at 67.9%. Weighted for its industry mix, the area's sectors are forecast to grow about 5.9% nationally over five years. That reflects industry composition only and makes no allowance for local population growth. The working-day population is estimated at 3,685, about 82% 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
Koo Wee Rup maintains a balanced occupational split between white-collar and blue-collar roles, highlighted by an exceptionally strong construction workforce and a low unemployment rate of 2.7%. Statistical data as of March 2026 shows 2,099 employed residents. Local unemployment sits 2.1% lower than the 4.8% recorded across Greater Melbourne, while the labour force participation rate stands at 67.9%, somewhat beneath the metropolitan figure of 70.1%. At the time of the Census, only 13.4% of employed locals worked from home, a figure recorded during the pandemic lockdown environment. The primary employment sectors for local residents are construction, health care & social assistance, and manufacturing.
The local workforce exhibits substantial industrial concentration in construction, where employment density reaches 1.9 times the broader metropolitan average. Conversely, professional & technical services represent just 3.4% of local jobs compared to 10.1% across the region. A comparison of resident workers against locally based positions indicates limited internal employment opportunities within the immediate area. During the 12 months leading to March 2026, local labour force size contracted by 1.0% and total employment fell by 1.1%, pushing the unemployment rate up by 0.1 percentage points. By contrast, Greater Melbourne saw employment increase by 2.1%, the labour pool rise by 2.3%, and unemployment increase by 0.2 percentage points. Longer-term employment prospects can be assessed using national occupational forecasts released in Mar-26 by Jobs and Skills Australia. Across Australia, workforce size is projected to increase by 6.6% over five years and 13.7% over ten years, with performance varying widely across different industries. Mapping these industry trends across Koo Wee Rup's specific employment distribution indicates potential local job expansion of 5.9% across five years and 12.4% across ten years, based on an illustrative sectoral weighting model that excludes localized population shifts.
Frequently Asked Questions - Employment
Median household income in Koo Wee Rup is $1,782 a week (about $93,000 a year), with median personal income at $809 a week. ATO records put median taxable income at $51,407 a year against an average of $59,640. 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
ATO taxation statistics for financial year 2023 indicate that earnings in the suburb of Koo Wee Rup track below national benchmarks, recording a median income of $51,407 alongside an average of $59,640. Across Greater Melbourne, corresponding income benchmarks stand at a median of $57,688 and an average of $75,164. Factoring in the 9.62% Wage Price Index increase observed since financial year 2023, updated estimates as of March 2026 place median earnings at approximately $56,352 and average earnings at $65,377. Overall household, family, and individual incomes sit around the 51st percentile nationally.
A significant share of the workforce falls within the $1,500 - 2,999 weekly bracket, encompassing 40.7% of local earners (1,820 individuals), compared to 32.8% regionally. Housing expenses account for 16.0% of local income, leaving disposable household earnings positioned at the 53rd percentile.
Frequently Asked Questions - Income
Koo Wee Rup had 1,389 occupied dwellings at the 2021 Census, 90% detached houses and 9% apartments. 54% are owned with a mortgage, 19% rented and 27% owned outright. At that Census the median rent was $320 a week and the median mortgage repayment $1,811 a month. Rent absorbs 18.0% of household income here and mortgage repayments 23.5%. Dwelling stock, tenure and housing costs are 2021 Census measures — the only source that counts dwellings at this boundary size.
Detail
Census data reveals that separate houses make up 90.1% of the local dwelling stock, with semi-detached properties, apartments, and other configurations comprising the remaining 9.9%. This contrasts with metropolitan Melbourne, where houses represent 67.9% and higher-density formats constitute 32.1%. Outright homeownership in Koo Wee Rup sits below the metro standard at 27.3%, while 53.9% of homes are mortgaged and 18.8% are occupied by tenants. Typical housing costs are comparatively affordable: median monthly mortgage repayments are $1,811 (below Melbourne's $2,000 and the Australian average of $1,863), while median weekly rents sit at $320 (lower than the $390 metro level and the national figure of $375).
Frequently Asked Questions - Housing
Koo Wee Rup counted 1,389 households at the 2021 Census, an estimated 1,535 today, averaging 2.7 people each. 37% are couples with children, against 26% couples without children. 22% of households are people living alone, and families average 1.8 children. Household and family composition is measured only by the Census, so these are 2021 figures.
Detail
Families make up 76.0% of all households in the locality, consisting of couple families with children (36.6%), couples without children (25.8%), and single-parent households (12.5%). Non-family living arrangements account for the remaining 24.0%, split between single-person dwellings at 22.2% and group living situations at 1.9%. The median household size of 2.7 people slightly exceeds the Greater Melbourne average of 2.6.
Frequently Asked Questions - Households
9.9% of adults in Koo Wee Rup hold a university qualification, including 7.1% with a bachelor degree and 1.1% with postgraduate qualifications. A further 34.1% hold a vocational qualification. 3 schools serve the area, with 1,475 enrolment places and an average ICSEA of 982 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 area remains relatively low, with only 9.9% of residents holding university-level qualifications compared to the Greater Melbourne benchmark of 37.0%. Bachelor degrees represent the most prevalent higher education credential at 7.1%, followed by graduate diplomas at 1.7% and postgraduate awards at 1.1%. In contrast, vocational and technical credentials are heavily represented, held by 43.7% of the population aged 15 and over, comprising certificates (34.1%) and advanced diplomas (9.6%). A total of 29.5% of residents are actively participating in formal study. Primary schooling represents 12.6% of the population, secondary education accounts for 7.8%, and 2.1% are enrolled in tertiary studies.
Frequently Asked Questions - Education
Schools Detail
Getting around Koo Wee Rup means driving: households keep an average of 1.8 vehicles, and scheduled services reach only a handful of stops. Service data is built from operators' published GTFS timetables; vehicle ownership is from the 2021 Census.
Detail
Koo Wee Rup contains 2 public transport stops served by 4 dedicated routes, delivering 321 weekly passenger services. Overall transit accessibility is limited, with local residents living an average distance of 640 meters from their nearest stop. Reflecting the area's residential profile, commuting is heavily vehicle-dependent, with private motor vehicles accounting for 96% of journeys to work. Household vehicle ownership stands at an above-average 1.8 per dwelling. During the 2021 Census, 13.4% of workers conducted their duties from home, an outcome influenced by COVID-19 settings. Local public transport operations provide an average frequency of 45 trips per day across all available routes, translating to roughly 160 weekly services per stop.
Frequently Asked Questions - Transport
Transport Stops Detail
65.4% of residents in Koo Wee Rup report no long-term health condition, a less healthy profile than 90% of areas nationally. 7.2% need daily assistance with core activities, and 50.5% hold private health cover. The standardised death rate runs at 7.1 per 1,000 residents. Health conditions, assistance needs and insurance are 2021 Census measures; the death rate comes from current ABS releases.
Detail
Community health profiles indicate notable healthcare demands in Koo Wee Rup, with elevated chronic illness rates observable across both youth and older demographics, while private health insurance coverage extends to approximately 50% of residents (~2,257 people). This coverage rate trails both the Greater Melbourne level of 56.7% and the national figure of 55.7%. Asthma and mental health conditions are the most prevalent chronic issues locally, reported by 10.3% and 8.9% of residents respectively, while 65.4% of the population reported no chronic conditions (compared to 72.6% across Greater Melbourne). Chronic health conditions are more prevalent than average among working-age individuals.
Residents aged 65 and over comprise 15.6% of the population (697 people), with health outcomes for older residents aligning closely with broader population trends.
Frequently Asked Questions - Health
Koo Wee Rup is largely Australian-born, at 87.9% of residents, with 5.4% speaking a language other than English at home. The largest reported ancestries are Australian (33.0%) and English (31.7%). Ancestry, language and country of birth are counted only by the Census, so these are 2021 figures.
Detail
Cultural diversity in Koo Wee Rup is comparatively low, with Australian-born residents accounting for 87.9% of the population, Australian citizens comprising 91.0%, and 94.6% of households using only English at home. Christianity represents the leading faith, adhered to by 42.6% of the population. Individuals identifying with Other religious traditions make up 0.7% of the community, below the Greater Melbourne benchmark of 2.3%. The most common reported ancestries across Koo Wee Rup are Australian (33.0%, compared to 18.4% across the metropolitan area), English (31.7%, compared to 20.1% regionally), and Irish (7.4%).
Other notable ancestry groups include Dutch at 2.7% (above the 1.2% regional level), Italian at 4.5% (against 5.2% regionally), and Sri Lankan at 0.4% (compared to 0.8% across Greater Melbourne).
Frequently Asked Questions - Diversity
The median resident of Koo Wee Rup is 33, younger than 82% of areas nationally. That is 1 year younger than at the 2021 Census. 25.6% 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
Koo Wee Rup features a younger demographic composition than metropolitan Melbourne. As of August 2026 estimates, young people aged 0 - 24 constitute 35.0% of the community (compared to 30.5% across Greater Melbourne), while adults aged 25 - 44 represent 29.4% (against 32.1% regionally). The estimated median age sits at 33 as at August 2026, having decreased from 34 at the 2021 Census, sitting 4 years younger than Greater Melbourne's median of 37 and below the national median of 38 at that Census. Residents aged 45 - 64 have decreased from 21.8% at the Census to an estimated 20.2%.
Projections to 2041 indicate that no broad age cohort will experience material growth, with the 45 - 64 age band and the 25 - 44 bracket both expected to contract.
Frequently Asked Questions - Age
Data & MethodBoundaries, Sources & Method for Koo Wee Rup
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, Local governments Daily | May 2026 5 months ago all 2 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 May 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 — 91 validated new addresses here. The headline figure is therefore a current estimate for Aug 2026, not a 2021 count (4,047 at the 2021 Census → 4,473 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 (SAL21380). QuickStats reports 2021 only — the figures on this page are more current wherever the ledger shows a later date.