Lake Wendouree

An assessment of population growth drivers in Lake Wendouree reveals an overall ranking slightly below national averages considering recent, and medium term trends

Based on ABS population updates, as of November 2025, Lake Wendouree's estimated population is around 2,732. This reflects a decrease of 146 people since the 2021 Census, which reported a population of 2,878. The change was inferred from AreaSearch's estimation following examination of ABS's latest ERP data release in June 2024 and seven validated new addresses since the Census date. This results in a density ratio of 597 persons per square kilometer. Population growth was primarily driven by overseas migration during recent periods.

AreaSearch adopts ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered, VIC State Government's Regional/LGA projections released in 2023 are utilised with adjustments made using weighted aggregation from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Projected demographic trends indicate an above median population growth for national non-metropolitan areas, with Lake Wendouree expected to grow by 418 persons to 2041, reflecting a total increase of 17.4% over the 17 years.

AreaSearch assessment of residential development drivers sees a low level of activity in Lake Wendouree, placing the area among the bottom 25% of areas assessed nationally

AreaSearch analysis of ABS building approval numbers shows Lake Wendouree had approximately 5 new homes approved annually. Between FY-21 and FY-25, around 25 homes were approved, with one more approved in FY-26 to date.

Despite population decline, this development activity has been adequate relative to the area's experience. Commercial approvals totalled $5.1 million in FY-26, indicating limited commercial development focus. Lake Wendouree shows substantially reduced construction compared to the rest of Victoria, with 86.0% below the regional average per person. This scarcity typically strengthens demand and prices for existing properties, though building activity has accelerated recently. Nationally, this activity is also lower, reflecting market maturity and possible development constraints. New building activity comprises 17.0% standalone homes and 83.0% medium to high-density housing, appealing to downsizers, investors, and entry-level buyers. This shift contrasts with the current housing mix of 79.0% houses, likely due to reduced availability of development sites and changing lifestyle demands.

Lake Wendouree has around 244 people per dwelling approval, indicating a low-density area. By 2041, AreaSearch estimates an increase of 474 residents. At current development rates, housing supply may struggle to keep pace with population growth, potentially intensifying buyer competition and supporting price increases.

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

Nine projects identified by AreaSearch are likely to impact the area, significantly influencing its performance. Key projects include Ballarat Base Hospital Redevelopment, Federation University SMB Campus Redevelopment, Ballarat Co-Operative Education and Skills City Centre, and Ballarat Major Events Precinct Upgrades. The following list details those most relevant.

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

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Employment conditions in Lake Wendouree demonstrate strong performance, ranking among the top 35% of areas assessed nationally

Lake Wendouree has an educated workforce with significant representation in essential services sectors. Its unemployment rate was 1.8% as of September 2025, lower than the Rest of Vic.'s rate of 3.8%.

Employment growth over the past year was estimated at 1.7%. Workforce participation is slightly below standard at 53.5%, compared to Rest of Vic.'s 57.4%. Key industries include health care & social assistance, education & training, and construction. Health care & social assistance is particularly strong with an employment share 1.4 times the regional level, while agriculture, forestry & fishing has limited presence at 2.4% compared to 7.5% regionally.

The worker-to-resident ratio of 0.7 indicates above-normal local employment opportunities. In the past year, employment increased by 1.7%, labour force by 1.4%, reducing unemployment by 0.3 percentage points. Conversely, Rest of Vic. saw employment and labour force declines of 0.7% and 0.6% respectively. State-level data to 25-Nov-25 shows VIC employment grew by 1.13% year-on-year, with a state unemployment rate of 4.7%. National employment forecasts from May-25 project national growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Lake Wendouree's employment mix suggests local growth could be 7.3% over five years and 15.0% over ten years, though this is a simple extrapolation for illustrative purposes only.

Income analysis reveals strong economic positioning, with the area outperforming 60% of locations assessed nationally by AreaSearch

The latest postcode level ATO data for Lake Wendouree, released for the financial year ending June 2023, indicates a median income among taxpayers of $60,869 and an average income of $77,879. This places Lake Wendouree above the national average. Comparatively, the median income in Rest of Vic is $50,954 with an average of $62,728. Based on Wage Price Index growth of 8.25% since June 2023, estimated incomes as of September 2025 would be approximately $65,891 (median) and $84,304 (average). According to Census 2021 data, personal income ranks at the 79th percentile ($1,010 weekly), while household income is at the 62nd percentile. Income analysis shows that the largest segment comprises 25.2% of residents earning $4000+ weekly (688 residents). This differs from surrounding regions where incomes between $1,500 and $2,999 dominate with 30.3%. Lake Wendouree demonstrates affluence with 35.2% of residents earning over $3,000 per week, supporting premium retail and service offerings. After housing costs, residents retain 90.2% of their income, reflecting strong purchasing power. The area's SEIFA income ranking places it in the 8th decile.

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

In Lake Wendouree, as per the latest Census, 79.1% of dwellings were houses, with the remaining 20.9% being semi-detached homes, apartments, and other types. This is compared to Non-Metro Vic., where 85.6% of dwellings were houses and 14.5% were other types. Home ownership in Lake Wendouree stood at 52.1%, with mortgaged dwellings at 22.5% and rented ones at 25.4%. The median monthly mortgage repayment was $2,106, higher than Non-Metro Vic.'s average of $1,863. The median weekly rent in Lake Wendouree was $321, lower than the national figure of $375 and Non-Metro Vic.'s $300.

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

Family households constitute 65.3% of all households, including 24.5% couples with children, 34.2% couples without children, and 6.9% single parent families. Non-family households comprise the remaining 34.7%, with lone person households at 32.0% and group households making up 2.0%. The median household size is 2.2 people, smaller than the Rest of Vic average of 2.4.

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

Lake Wendouree's educational attainment is notably higher than broader averages. Among residents aged 15+, 43.6% have university qualifications, compared to 21.7% in the rest of Victoria and 24.6% in the SA4 region. Bachelor degrees are most common at 26.8%, followed by postgraduate qualifications (11.2%) and graduate diplomas (5.6%). Vocational credentials are also prevalent, with 26.5% of residents aged 15+ holding such qualifications – advanced diplomas at 11.9% and certificates at 14.6%. Educational participation is high, with 27.7% of residents currently enrolled in formal education.

This includes 9.8% in secondary education, 8.7% in primary education, and 5.7% pursuing tertiary education.

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

Lake Wendouree has 20 active public transport stops, all of which are bus stops. These stops are served by three different routes that together facilitate 525 weekly passenger trips. The accessibility of these services is rated as excellent, with residents typically situated just 196 meters from the nearest stop.

On average, there are 75 trips per day across all routes, resulting in approximately 26 weekly trips per individual stop.

Health performance in Lake Wendouree is well below average with prevalence of common health conditions notable across both younger and older age cohorts

Lake Wendouree faces significant health challenges, with common conditions prevalent across both younger and older age groups. Private health cover is high at approximately 58% (1,572 people), compared to Victoria's 51.9%.

The most common conditions are arthritis (10.4%) and mental health issues (8.4%). A total of 62.7% report no medical ailments, similar to the rest of Victoria at 62.3%. Lake Wendouree has a higher proportion of seniors aged 65 and over, at 32.1% (876 people), compared to Victoria's 17.8%. Health outcomes among seniors are above average, outperforming general population metrics.

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

Lake Wendouree showed low cultural diversity, with 86.9% born in Australia, 91.1% being citizens, and 94.6% speaking English only at home. Christianity was the dominant religion, accounting for 58.0%, compared to 45.0% regionally. Top ancestry groups were English (31.0%), Australian (24.7%), and Irish (14.4%).

Notable differences included Scottish at 10.9% (vs regional 9.2%), Dutch at 1.9% (vs 2.1%), and Welsh at 0.7% (vs 0.5%).

Lake Wendouree ranks among the oldest 10% of areas nationwide

The median age in Lake Wendouree is 52 years, significantly higher than Victoria's average of 43 and Australia's national norm of 38. The percentage of people aged 85 and above in Lake Wendouree is notably higher at 6.6% compared to the rest of Victoria's average. Conversely, those aged 25-34 are under-represented at 7.2%. Between 2021 and present, the population of 15-24 year-olds has increased from 10.3% to 11.7%, while the 25-34 age group has risen from 5.9% to 7.2%. However, the 45-54 age cohort has decreased from 13.6% to 12.5%. By 2041, population forecasts indicate substantial demographic changes in Lake Wendouree. The 25-34 age group is projected to grow by 72%, adding 141 residents to reach a total of 338. Meanwhile, the number of people aged 55-64 is expected to decrease by 6%.