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 Nov 2025, the estimated population for the Lovely Banks statistical area (Lv2) is around 2,698, a decrease of 84 people since the 2021 Census which reported a population of 2,782. This change is inferred from AreaSearch's estimation of the resident population at 2,693 as of June 2024, based on the latest ERP data release by the ABS, and an additional 1 validated new address since the Census date. The population density ratio is approximately 90 persons per square kilometer. Overseas migration contributed about 66.0% of overall population gains in recent periods. AreaSearch employs ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022, and VIC State Government's Regional/LGA projections released in 2023 for areas not covered by the former data.

Growth rates by age group are applied across all areas from these aggregations for years 2032 to 2041. By 2041, the Lovely Banks (SA2) is forecasted to expand by 643 persons, reflecting a gain of 27.2% in total over the 17-year period.

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

Lovely Banks has fewer than one dwelling approval annually since 2016. Over the five-year period from 2016 to 2020, there were minimal dwellings approved each year. This low development level reflects Lovely Banks' rural nature, where housing needs drive development rather than market demand.

Fewer than ten approvals per year can significantly impact annual growth and relativity statistics. Compared to the Rest of Vic., Lovely Banks has much lower development activity. Its development pattern is also well below national averages.

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

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified 16 projects that may impact this region. Notable projects include Lovely Banks Development, Cedar Woods Corio Residential Estate, Gateway Green Estate, and Wathaurong Dreaming Project - North Geelong Hub Redevelopment. 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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AreaSearch assessment indicates Lovely Banks faces employment challenges relative to the majority of Australian markets

Lovely Banks has a skilled workforce with notable representation in the construction sector. The unemployment rate, as aggregated by AreaSearch from statistical area data, is 9.3%.

As of September 2025, 1,459 residents are employed while the unemployment rate is 5.6% higher than Rest of Vic.'s rate of 3.8%, indicating room for improvement. Workforce participation in Lovely Banks is high at 67.8%, compared to Rest of Vic.'s 57.4%. Key industries of employment among residents are health care & social assistance, construction, and retail trade. Construction is particularly strong with an employment share 1.4 times the regional level, while agriculture, forestry & fishing is under-represented at 1.2% compared to Rest of Vic.'s 7.5%.

The worker-to-resident ratio, as per the Census, is 0.6, indicating a level of local employment opportunities above average. Over the past year, labour force decreased by 0.4%, and employment decreased by 1.6%, leading to an unemployment rate rise of 1.1 percentage points. In comparison, Rest of Vic. saw an employment decline of 0.7% and labour force decline of 0.6%, with a marginal increase in unemployment. State-level data from 25-Nov shows VIC employment grew by 1.13% year-on-year, adding 41,950 jobs, with the state unemployment rate at 4.7%. National employment forecasts from Jobs and Skills Australia project national employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Lovely Banks's employment mix suggests local employment should increase by 6.2% over five years and 12.9% over ten years, though this is a simple extrapolation for illustrative purposes and does not account for localised population projections.

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

AreaSearch's latest postcode level ATO data for financial year 2023 shows that income in Lovely Banks is above the national average. The median income is $63,992 and the average income stands at $71,893. This contrasts with Rest of Vic., which has a median income of $50,954 and an average income of $62,728. Based on Wage Price Index growth of 8.25% since financial year 2023, current estimates for Lovely Banks would be approximately $69,271 (median) and $77,824 (average) as of September 2025. According to the 2021 Census, household, family, and personal incomes in Lovely Banks cluster around the 56th percentile nationally. The earnings profile shows that the $1,500 - 2,999 earnings band captures 36.3% of the community (979 individuals), reflecting patterns seen at regional levels where 30.3% similarly occupy this range. After housing costs, residents retain 87.4% of their income, indicating strong purchasing power. 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

In Lovely Banks, as per the latest Census, 91.4% of dwellings were houses with the remaining 8.6% being semi-detached, apartments, or other types. 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 ones 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 was $350, compared to Non-Metro Vic.'s $335. Nationally, Lovely Banks' 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% of the total. 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 the most common at 11.7%, followed by postgraduate qualifications (3.4%) and graduate diplomas (1.5%). Vocational credentials are prominent, with 37.9% of residents aged 15+ holding them, including advanced diplomas (10.6%) and certificates (27.3%). Educational participation is high at 29.0%, with 9.3% in secondary education, 8.6% in primary education, and 4.9% pursuing tertiary education.

Educational participation is notably high, with 29.0% of residents currently enrolled in formal education. This includes 9.3% in secondary education, 8.6% in primary education, and 4.9% pursuing tertiary education.

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

Transport analysis in Lovely Banks shows five active public transport stops operating, offering a mix of bus services. These stops are served by one route collectively facilitating 261 weekly passenger trips. Transport accessibility is rated moderate with residents typically located 421 meters from the nearest stop.

Service frequency averages 37 trips per day across all routes, equating to approximately 52 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% (~1,490 people) of the total population has private health cover. 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% of residents report being completely free from medical ailments, compared to 65.9% in Rest of Vic. Lovely Banks has 12.8% (345 people) of its population aged 65 and over, lower than the 16.8% in Rest of Vic. However, health outcomes among seniors require more attention than those in the broader population.

The level of cultural diversity witnessed in Lovely Banks was found to be above average when compared nationally for a number of language and cultural background related metrics

Lovely Banks had a higher cultural diversity compared to most local markets, with 24.3% of its population born overseas and 28.0% speaking a language other than English at home. Christianity was the predominant religion in Lovely Banks, comprising 55.6% of people. However, Islam showed an overrepresentation at 5.4%, compared to 2.0% across Rest of Vic..

In terms of ancestry, Australian was the top group at 21.1%, followed by English at 19.0%, which was notably lower than the regional average of 27.5%. The Other ancestry group made up 13.2%, substantially higher than the regional average of 7.3%. Notably, Croatian (5.2% vs 1.5%), Hungarian (1.1% vs 0.3%) and Macedonian (3.4% vs 0.6%) ethnic groups were overrepresented in Lovely Banks compared to regional averages.

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 Australia's national average of 38. The current age profile shows that individuals aged 25-34 are prominent at 16.5%, while those aged 65-74 comprise only 6.9%. Since 2021, the 25-34 age group has increased from 14.2% to 16.5%, while the 5-14 cohort has declined from 12.5% to 10.9% and the 45-54 group has dropped from 15.4% to 14.1%. By 2041, demographic projections indicate significant shifts in Lovely Banks's age structure: the 25-34 age cohort is projected to rise substantially by 285 people (64%), from 445 to 731, while the 55-64 cohort grows modestly by 4 people.