Lovely Banks

Lovely Banks lies within the top quartile of areas nationally for population growth performance according to AreaSearch analysis of recent, and medium to long-term trends

As of November 2025, the estimated population of Lovely Banks is around 2770 people. This reflects a decrease from the 2021 Census figure of 2782 people, a change inferred from AreaSearch's estimation of the resident population at 2762 following examination of ABS ERP data released in June 2024, and an additional validated new address since the Census date. This results in a population density of approximately 92 persons per square kilometer. Overseas migration contributed significantly to population growth in Lovely Banks, accounting for about 66% of overall population gains during recent periods. AreaSearch employs 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 uses the Victorian State Government's Regional/LGA projections from 2023, adjusted using weighted aggregation methods to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. By 2041, Lovely Banks is forecasted to experience a significant population increase, with an expected gain of 640 persons based on aggregated SA2-level projections. This reflects a total growth of approximately 23.8% over the 17-year period from 2025 to 2041.

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

Development activity data is being compiled for this area.

Lovely Banks shows significantly less construction activity than Rest of Vic.. The development pattern is also well below national averages.

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

Area infrastructure changes significantly influence local performance. AreaSearch identified 16 potential impact projects. Notable ones are Lovely Banks Development, Cedar Woods Corio Residential Estate, Gateway Green Estate, and Corio Convenience Retail Hub. Below is a detailed list of relevant projects.

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 drivers in Lovely Banks are experiencing difficulties, placing it among the bottom 20% of areas assessed across Australia

Lovely Banks has a skilled workforce with notable representation in the construction sector. The unemployment rate was 9.6% as of June 2024, with an estimated employment growth of 1.3% over the past year, according to AreaSearch's aggregation of statistical area data.

As of June 2025, there are 1,474 residents employed, with an unemployment rate of 5.8%, which is higher than Rest of Vic.'s rate of 3.8%. Workforce participation in Lovely Banks is high at 67.8%, compared to Rest of Vic.'s 57.4%. Employment is concentrated in health care & social assistance, construction, and retail trade. Construction employment is particularly specialized, with a share of 1.4 times the regional level.

Conversely, agriculture, forestry & fishing has an under-representation of only 1.2% compared to Rest of Vic.'s 7.5%. The worker-to-resident ratio at the Census was 0.6, indicating local employment opportunities above average. Over a 12-month period ending June 2025, employment increased by 1.3%, while labour force rose by 2.2%, causing unemployment to rise by 0.8 percentage points. This contrasts with Rest of Vic., where employment contracted by 0.9%, labour force fell by 0.4%, and unemployment rose by 0.4 percentage points. Jobs and Skills Australia's national employment forecasts from Sep-22 project a 6.6% increase over five years and 13.7% over ten years. Applying these projections to Lovely Banks' employment mix suggests local employment should increase by 6.2% over five years and 12.9% over ten years, based on simple weighting extrapolation for illustrative purposes only.

Income metrics indicate excellent economic conditions, with the area achieving higher performance than 75% of national locations assessed by AreaSearch

AreaSearch's aggregation of latest postcode level ATO data for financial year 2022 shows Lovely Banks had a median taxpayer income of $63,992 and an average income of $71,893. These figures are above national averages. Rest of Vic had median and average incomes of $48,741 and $60,693 respectively. Based on Wage Price Index growth of 12.16% since financial year 2022, estimated current incomes as of September 2025 are approximately $71,773 (median) and $80,635 (average). Census 2021 income data indicates that Lovely Banks' household, family, and personal incomes cluster around the 56th percentile nationally. Income distribution shows 36.3% of residents earning $1,500 - 2,999 weekly. After housing costs, residents retain 87.4% of income. The area's SEIFA income ranking places it in the 4th decile.

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

As of the latest Census, dwelling structures in Lovely Banks consisted of 91.4% houses and 8.6% other dwellings (semi-detached, apartments, 'other' dwellings). This compares to Non-Metro Vic.'s 84.6% houses and 15.4% other dwellings. Home ownership in Lovely Banks stood at 35.8%, with mortgaged dwellings at 50.0% and rented dwellings at 14.2%. The median monthly mortgage repayment was $1,747, higher than Non-Metro Vic.'s average of $1,712. The median weekly rent figure in Lovely Banks was $350, compared to Non-Metro Vic.'s $335. Nationally, Lovely Banks's mortgage repayments were lower than the Australian average of $1,863, and rents were less than the national figure of $375.

Lovely Banks features high concentrations of family households, with a higher-than-average median household size

Family households account for 80.3% of all households, including 40.5% couples with children, 26.2% couples without children, and 13.0% single parent families. Non-family households constitute the remaining 19.7%, with lone person households at 17.1% and group households comprising 2.2%. The median household size is 2.9 people, larger than the Rest of Vic. average of 2.4.

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

The area's university qualification rate is 16.6%, significantly lower than Victoria's average of 33.4%. Bachelor degrees are most common at 11.7%, followed by postgraduate qualifications (3.4%) and graduate diplomas (1.5%). Vocational credentials are prevalent, with 37.9% of residents aged 15+ holding such qualifications, including advanced diplomas (10.6%) and certificates (27.3%). Educational participation is high at 29.0%, comprising secondary education (9.3%), primary education (8.6%), and tertiary education (4.9%).

Geelong Baptist College serves Lovely Banks with an enrollment of 310 students, offering typical Australian school conditions (ICSEA: 1030) and balanced educational opportunities. All schools offer integrated K-12 education for academic continuity. School places per 100 residents are lower than the regional average at 11.2, with some students likely attending adjacent areas' schools.

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

Transport analysis shows five active stops in Lovely Banks offering bus services. These stops are served by one route collectively providing 415 weekly passenger trips. Transport accessibility is moderate with residents typically located 421 meters from the nearest stop.

Service frequency averages 59 trips per day across all routes, equating to approximately 83 weekly trips per individual stop.

Lovely Banks's residents boast exceedingly positive health performance metrics with younger cohorts in particular seeing very low prevalence of common health conditions

Health outcomes data shows excellent results across Lovely Banks, particularly for younger cohorts who have a very low prevalence of common health conditions. Approximately 55% (~1,529 people) of the total population has private health cover, compared to 52.7% in the rest of Victoria.

The most prevalent medical conditions are asthma and mental health issues, affecting 6.6 and 6.4% of residents respectively. A total of 75.2% declare themselves completely clear of medical ailments, higher than the 65.9% across the rest of Victoria. Lovely Banks has 12.8% (354 people) of its population aged 65 and over, lower than the 16.8% in the rest of Victoria. However, health outcomes among seniors require more attention than those for the broader population.

Lovely Banks was found to be more culturally diverse than the vast majority of local markets in Australia, upon assessment of a range of language and cultural background related metrics

Lovely Banks, surveyed in June 2021, had a higher cultural diversity than most local markets, with 24.3% of its population born overseas and 28.0% speaking languages other than English at home. Christianity was the predominant religion, comprising 55.6%. However, Islam's representation at 5.4%, compared to Rest of Vic.'s 2.0%, showed significant overrepresentation.

Ancestry-wise, Australians made up 21.1%, English 19.0% (below regional average), and Other 13.2% (above regional average). Notably, Croatian ancestry was overrepresented at 5.2%, Hungarian at 1.1%, and Macedonian at 3.4%.

Lovely Banks's population is slightly younger than the national pattern

The median age in Lovely Banks is 37 years, which is lower than Rest of Vic.'s average of 43 and close to the national average of 38 years. The age profile shows that individuals aged 25-34 are notably prominent at 16.4%, while those aged 65-74 make up a smaller proportion at 6.9% compared to Rest of Vic.. Between 2021 and the present, the percentage of the population aged 25-34 has increased from 14.2% to 16.4%. Conversely, the percentage of individuals aged 5-14 has decreased from 12.5% to 10.9%, and those aged 45-54 have dropped from 15.4% to 14.1%. Looking ahead to 2041, demographic projections indicate significant changes in Lovely Banks' age structure. The number of individuals aged 25-34 is projected to rise substantially by 275 people (61%), from 454 to 730. Conversely, the 55-64 age group is expected to decrease by 4 residents.