Macleod (Vic.)

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

As of November 2025, the Macleod (Vic.) statistical area (Lv2) has an estimated population of around 10,555 people. This reflects a growth of 663 individuals since the 2021 Census, which reported a population of 9,892 people. The increase is inferred from AreaSearch's estimation of 10,501 residents as per their analysis of the latest ERP data release by the ABS (June 2024), along with an additional 83 validated new addresses since the Census date. This results in a population density ratio of 2,324 persons per square kilometer, higher than the average across national locations assessed by AreaSearch. The area's growth rate of 6.7% since the census is within 3.0 percentage points of the national average (9.7%), indicating competitive growth fundamentals. Overseas migration contributed approximately 93.0% of overall population gains during recent periods.

AreaSearch uses 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 employs the VIC State Government's Regional/LGA projections released in 2023, adjusted using a method of 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. Future population trends predict exceptional growth, placing the Macleod (Vic.) (SA2) in the top 10 percent nationally over the period. By 2041, the area is expected to expand by 4,730 persons based on aggregated SA2-level projections, reflecting an overall increase of 42.3% over the 17 years.

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

AreaSearch analysis of ABS building approval numbers in Macleod shows around 34 residential properties approved annually over the past five financial years, totalling an estimated 171 homes. In FY26 so far, 26 approvals have been recorded. The population has declined recently but housing supply remains adequate relative to demand, creating a balanced market with good buyer choice. New properties are constructed at an average value of $610,000, targeting the premium market segment.

This financial year has seen $8.8 million in commercial approvals, indicating limited commercial development focus. Recent construction comprises 49% standalone homes and 51% attached dwellings, a shift from existing housing patterns (currently 77% houses), suggesting diminishing developable land availability and evolving lifestyle preferences. Macleod indicates a mature market with around 454 people per approval. AreaSearch's latest quarterly estimate projects Macleod to grow by 4,465 residents through to 2041.

At current development rates, housing supply may struggle to match population growth, potentially increasing buyer competition and supporting price increases.

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

Eleven projects have been identified by AreaSearch as potentially impacting the area. Key projects include 149 McKimmies Road Residential Precinct, RMIT University Bundoora Campus Developments, La Trobe University City of the Future, and University Hill Master Planned Community. The following list details those likely to be most relevant.

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.

The exceptional employment performance in Macleod places it among Australia's strongest labour markets

Macleod has an educated workforce with strong professional services representation. Its unemployment rate is 1.3%, with estimated employment growth of 0.9% in the past year (AreaSearch data).

As of September 2025, there are 5,869 employed residents, with a 3.4% lower unemployment rate than Greater Melbourne's 4.7%. Workforce participation is equal to Greater Melbourne's 64.1%. Dominant sectors include health care & social assistance, professional & technical services, and education & training, with the latter being particularly notable at 1.3 times the regional average. Manufacturing shows lower representation at 5.0% compared to the regional average of 7.2%.

The area offers limited local employment opportunities, indicated by the Census working population vs resident population count. From September 2024 to September 2025, employment increased by 0.9%, labour force by 0.5%, reducing unemployment by 0.4 percentage points (AreaSearch analysis). In contrast, Greater Melbourne had employment growth of 3.0% and labour force growth of 3.3%, with a 0.3 percentage point rise in unemployment. State-level data to 25-Nov-25 shows Victoria's employment grew by 1.13% year-on-year, adding 41,950 jobs, with an unemployment rate of 4.7%, compared to the national rate of 4.3%. National employment forecasts from May-25 indicate overall growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Macleod's employment mix suggests local employment should increase by 7.1% over five years and 14.4% over ten years, assuming constant population projections for illustrative purposes.

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

According to AreaSearch's aggregation of ATO data released for financial year 2023, Macleod suburb had a median income among taxpayers of $62,692 and an average level of $83,053. These figures are among the highest in Australia, compared to Greater Melbourne's median of $57,688 and average of $75,164. Based on Wage Price Index growth since financial year 2023, current estimates for Macleod would be approximately $67,864 (median) and $89,905 (average) as of September 2025. According to the 2021 Census, household, family, and personal incomes in Macleod are around the 65th percentile nationally. Income distribution shows that 28.8% of the population falls within the $1,500 - $2,999 income range, aligning with regional figures at 32.8%. The suburb demonstrates affluence with 31.6% earning over $3,000 per week, supporting premium retail and services. After housing expenses, 85.1% of income remains for other expenses, and the area's SEIFA income ranking places it in the 8th decile.

Macleod is characterized by a predominantly suburban housing profile, with strong rates of outright home ownership

The dwelling structure in Macleod, as per the latest Census evaluation, consisted of 76.7% houses and 23.4% other dwellings including semi-detached properties, apartments, and 'other' dwellings. The home ownership level was 38.7%, with 37.7% of dwellings mortgaged and 23.6% rented. The median monthly mortgage repayment in the area was $2,296, and the median weekly rent figure was recorded at $396. Nationally, Macleod's median monthly mortgage repayments were significantly higher than the Australian average of $1,863, while rents exceeded the national figure of $375.

Macleod has a typical household mix, with a median household size of 2.5 people

Family households account for 69.6% of all households, including 34.5% couples with children, 24.7% couples without children, and 9.6% single parent families. Non-family households comprise the remaining 30.4%, with lone person households at 27.3% and group households at 3.0%. The median household size is 2.5 people.

Macleod performs slightly above the national average for education, showing competitive qualification levels and steady academic outcomes

Macleod's educational attainment is notably higher than broader averages. Among residents aged 15 and above, 43.1% possess university qualifications, compared to 30.4% nationally and 32.8% in the SA4 region. This high level of educational attainment positions Macleod favourably for knowledge-based opportunities. Bachelor degrees are most prevalent at 26.7%, followed by postgraduate qualifications (11.6%) and graduate diplomas (4.8%).

Vocational credentials are also prominent, with 25.3% of residents aged 15 and above holding such qualifications – advanced diplomas account for 11.1% and certificates for 14.2%. Educational participation is notably high in Macleod, with 27.8% of residents currently enrolled in formal education. This includes 8.4% in primary education, 7.6% in secondary education, and 6.3% pursuing tertiary education.

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

Macleod has 40 active public transport stops, serving a mix of train and bus services. These stops are covered by five routes, offering a total of 2,575 weekly passenger trips. Residents enjoy good transport accessibility, with an average distance of 225 meters to the nearest stop.

Service frequency stands at 367 trips per day across all routes, translating to about 64 weekly trips per individual stop.

Health outcomes in Macleod are marginally below the national average with common health conditions somewhat prevalent across both younger and older age cohorts

Macleod has below-average health indicators, with common health conditions prevalent among both younger and older age cohorts.

Approximately 60% of its total population of 6,288 people have private health cover, a rate found to be exceptionally high. The most common medical conditions are mental health issues affecting 9.0% of residents and arthritis impacting 7.9%. In contrast, 68.1% of residents declare themselves completely clear of medical ailments compared to 0% across Greater Melbourne. As of the latest data from 2021, 19.4% of Macleod's residents are aged 65 and over, totaling 2,047 people. Health outcomes among seniors present some challenges, broadly in line with the general population's health profile.

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

Macleod, as per data from June 2016, had a higher cultural diversity than most local markets, with 26.3% of its population born overseas and 23.0% speaking a language other than English at home. Christianity was the predominant religion in Macleod, accounting for 48.9% of the population. Notably, Judaism was overrepresented in Macleod compared to Greater Melbourne, with 0.1% of the population identifying as Jewish.

In terms of ancestry, the top three groups were English (22.6%), Australian (20.6%), and Other (9.4%). Some ethnic groups showed significant differences: Macedonian was overrepresented at 1.6%, Croatian at 1.4%, and Italian at 8.1%.

Macleod's median age exceeds the national pattern

Macleod's median age is 41 years, which is significantly higher than Greater Melbourne's average of 37 and slightly older than Australia's median of 38. Compared to Greater Melbourne, Macleod has a notably higher proportion of people aged 85 and above (4.0%) but a lower proportion of those aged 25-34 (12.2%). According to the 2021 Census, the population aged 15-24 grew from 10.7% to 13.9%, while the 0-4 cohort declined from 5.9% to 5.1%. By 2041, Macleod's age profile is projected to change significantly. The 45-54 age group is expected to grow by 46%, adding 681 residents to reach a total of 2,170.