Lake Gardens

Population growth drivers in Lake Gardens are slightly above average based on AreaSearch's ranking of recent, and medium term trends

The estimated population of Lake Gardens as of February 2026 is around 1,770 people. This reflects a decrease of 31 individuals since the 2021 Census, which reported a population of 1,801 people. The current resident population is estimated at 1,769 by AreaSearch following examination of the latest ERP data release by the ABS in June 2024 and an additional 10 validated new addresses since the Census date. This results in a population density ratio of 1,475 persons per square kilometer, higher than the average across national locations assessed by AreaSearch. Population growth was primarily driven by overseas migration during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered by this data, AreaSearch utilises the VIC State Government's Regional/LGA projections from 2023 with adjustments made employing weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Looking ahead, an above median population growth is projected for non-metropolitan Australian areas, with Lake Gardens expected to expand by 277 persons to 2041, reflecting a total increase of 13.9% over the 17-year period.

The level of residential development activity in Lake Gardens is very low in comparison to the average area assessed nationally by AreaSearch

Based on AreaSearch analysis of ABS building approval numbers, Lake Gardens has recorded around 4 residential properties granted approval per year over the past five financial years ending FY26. This totals an estimated 20 homes. So far in FY26, 8 approvals have been recorded. Despite population decline, development activity has been adequate relative to other areas, indicating a focus on premium segment with upmarket properties, as new homes are being built at an average expected construction cost of $666,000.

Additionally, $35.4 million in commercial development approvals have been recorded this financial year, showing strong commercial development momentum. Compared to the Rest of Vic., Lake Gardens records markedly lower building activity, with 82.0% below regional average per person. This constrained new construction typically reinforces demand and pricing for existing dwellings. The area's established nature is also indicated by its level being under the national average, potentially suggesting planning limitations. All new construction has been completely comprised of detached dwellings, preserving Lake Gardens' suburban nature with an emphasis on detached housing attracting space-seeking buyers.

With around 700 people per approval, Lake Gardens shows a mature, established area. Population forecasts indicate Lake Gardens will gain 247 residents through to 2041. If current development rates continue, housing supply may not keep pace with population growth, potentially increasing competition among buyers and supporting stronger price growth.

Lake Gardens has very high levels of nearby infrastructure activity, ranking in the top 20% nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified one major project expected to affect this region: Learmonth Road Retail Hub, Ballarat Base Hospital Redevelopment, Western Highway Upgrade, and Duplication of Dyson Drive are key projects, with the following list detailing those likely to have the most relevance.

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.

Employment performance in Lake Gardens has been broadly consistent with national averages

Lake Gardens has an educated workforce with significant representation in essential services. The unemployment rate is 2.7%, with estimated employment growth of 1.6% over the past year (AreaSearch data). As of September 2025823 residents are employed while the unemployment rate is 1.0% lower than Rest of Vic.'s 3.8%.

Workforce participation in Lake Gardens is 54.8%, compared to Rest of Vic.'s 61.4%. Census data shows that 23.9% of residents work from home, potentially influenced by Covid-19 lockdowns. Leading employment industries include health care & social assistance, education & training, and accommodation & food services. Notably, professional & technical services have a high concentration with employment levels at 1.8 times the regional average.

Conversely, agriculture, forestry & fishing has lower representation at 1.1% compared to the regional average of 7.5%. The worker-to-resident ratio is 1.0, indicating substantial local employment opportunities. Between September 2024 and September 2025, employment levels increased by 1.6%, labour force grew by 1.3%, and unemployment fell by 0.3 percentage points (AreaSearch analysis of SALM and ABS data). In contrast, Rest of Vic. saw employment fall by 0.7% and unemployment rise marginally over the same period. 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 Lake Gardens' employment mix suggests local employment should increase by 6.8% over five years and 14.2% over ten years, though this is a simple extrapolation for illustrative purposes and does not account for localized population projections.

Income levels sit below national averages according to AreaSearch assessment

AreaSearch's latest postcode level ATO data for financial year ending June 2023 shows that Lake Gardens' median income is $45,983 and average income is $58,833. This is lower than Rest of Vic.'s median income of $50,954 and average income of $62,728. By September 2025, based on an 8.25% Wage Price Index growth since June 2023, Lake Gardens' median income is estimated to be approximately $49,777 and average income around $63,687. Census 2021 data ranks Lake Gardens' incomes modestly, between the 37th and 41st percentiles for household, family, and personal incomes. Income analysis reveals that 27.7% of Lake Gardens residents (490 individuals) earn between $1,500 - 2,999 annually, consistent with broader trends in the area at 30.3%. Housing costs allow 87.6% retention, but disposable income ranks below average at the 41st percentile. Lake Gardens' SEIFA income ranking places it in the 7th decile.

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

Lake Gardens' dwelling structure, as per the latest Census, consisted of 92.7% houses and 7.3% other dwellings (semi-detached, apartments, 'other' dwellings). This compares to Non-Metro Vic.'s 90.1% houses and 9.9% other dwellings. Home ownership in Lake Gardens stood at 49.6%, with the remaining dwellings either mortgaged (21.7%) or rented (28.7%). The median monthly mortgage repayment was $1,733, higher than Non-Metro Vic.'s average of $1,430. The median weekly rent figure in Lake Gardens was $360, compared to Non-Metro Vic.'s $285. Nationally, Lake Gardens' mortgage repayments were lower than the Australian average of $1,863, and rents were less than the national figure of $375.

Lake Gardens has a typical household mix, with a lower-than-average median household size

Family households constitute 69.3 percent of all households, including 26.7 percent couples with children, 32.5 percent couples without children, and 9.2 percent single parent families. Non-family households account for 30.7 percent, with lone person households at 28.8 percent and group households comprising 1.7 percent of the total. The median household size is 2.3 people, smaller than the Rest of Vic. average of 2.4.

Educational attainment in Lake Gardens aligns closely with national averages, showing typical qualification patterns and performance metrics

In Lake Gardens, a significant proportion of residents aged 15 and above have attained university qualifications, with 34.7% surpassing the broader benchmarks of 21.7% in Rest of Vic. and 24.6% in SA4 region. This educational advantage is led by bachelor degrees at 20.5%, followed by postgraduate qualifications at 9.0% and graduate diplomas at 5.2%. Vocational credentials are also prominent, with 27.9% of residents holding such qualifications, including advanced diplomas at 12.2% and certificates at 15.7%. Educational participation is notably high in the area, with 25.9% of residents currently enrolled in formal education.

This includes 10.8% in secondary education, 5.9% in primary education, and 5.2% pursuing tertiary education.

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

Lake Gardens has six active public transport stops. These stops are served by one route, offering a total of 119 weekly passenger trips. Transport accessibility is moderate, with residents typically located 463 meters from the nearest stop. Most residents commute outward daily, with cars being the dominant mode at 93%. The average vehicle ownership per dwelling is 1.3, below the regional average. According to the 2021 Census, 23.9% of residents work from home, which may be influenced by COVID-19 conditions.

On average, there are 17 trips per day across all routes, equating to approximately 19 weekly trips per stop.

The level of general health in Lake Gardens is notably higher than the national average with both young and old age cohorts seeing low prevalence of common health conditions

Lake Gardens exhibits superior health outcomes according to AreaSearch's assessment of mortality rates and chronic condition prevalence. Both younger and older age groups display low incidence of common health conditions.

Private health cover is relatively low at approximately 50% of the total population (~887 people), compared to the national average of 55.7%. The most prevalent medical conditions are arthritis (10.2%) and asthma (8.3%). 62.7% of residents claim to be free from medical ailments, slightly lower than the Rest of Vic.'s 63.4%. Working-age residents have a higher-than-average prevalence of chronic health conditions. As of 2021, Lake Gardens has 27.5% of residents aged 65 and over (486 people), exceeding the Rest of Vic.'s 23.9%. Health outcomes among seniors are above average, aligning with national rankings for the general population.

In terms of cultural diversity, Lake Gardens records figures broadly comparable to the national average, as found in AreaSearch's assessment of a number of language and cultural background related metrics

Lake Gardens, surveyed in June-August 2016, exhibited above-average cultural diversity with 19.3% of its population born overseas and 13.3% speaking a language other than English at home. Christianity was the predominant religion, comprising 54.9% of Lake Gardens' population, as per data from the Australian Bureau of Statistics (ABS) Census in 2016. Notably, Judaism was slightly overrepresented in Lake Gardens at 0.2%, compared to 0.1% across the rest of Victoria.

In terms of ancestry, the top three groups were English at 28.5%, Australian at 23.9% (lower than the regional average of 29.6%), and Irish at 12.5%. Other ethnic groups with notable divergences included Scottish at 11.1% (vs 8.8% regionally), Welsh at 0.8% (vs 0.4%), and Dutch at 1.7% (matching the regional average).

Lake Gardens ranks among the oldest 10% of areas nationwide

Lake Gardens has a median age of 50, which exceeds the Rest of Vic. figure of 43 and is well above the national average of 38 years. The 75-84 age group shows strong representation at 12.2% compared to Rest of Vic., while the 5-14 cohort is less prevalent at 9.2%. This 75-84 concentration is notably higher than the national figure of 6.1%. According to the 2021 Census, the 25-34 age group has grown from 7.6% to 9.4% of the population, while the 35-44 cohort increased from 8.2% to 9.6%. Conversely, the 45-54 cohort has declined from 14.6% to 13.3%. Demographic modeling suggests that Lake Gardens' age profile will evolve significantly by 2041. The 25-34 age cohort is projected to increase markedly, expanding by 93 people (56%) from 166 to 260. Conversely, numbers in the 55-64 age range are expected to fall by 12.