Macleod (Vic.)

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

The population of Macleod (Vic.) was estimated at around 10,506 as of November 2025, reflecting an increase of 614 people since the 2021 Census. The ABS ERP estimate for surrounding areas applied to Macleod by AreaSearch in June 2024 indicated a resident population of 10,450, with an additional 83 validated new addresses since the Census date contributing to this increase. This results in a population density ratio of 2,314 persons per square kilometer, above the national average assessed by AreaSearch. Macleod's growth rate of 6.2% since the Census is within 2.7 percentage points of the national average (8.9%). Overseas migration accounted for approximately 93.0% of overall population gains in recent periods. AreaSearch uses 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 from 2023 adjusted to SA2 levels for areas not covered by ABS data.

Future population trends predict exceptional growth for Macleod, placing it in the top 10 percent of national areas, with an expected expansion of 4,756 persons by 2041, reflecting a total increase of 43.2% over the 17-year period.

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, allocated from statistical area data in Macleod, shows around 31 residential properties granted approval each year over the past five financial years ending June 2021. This totals an estimated 159 homes. As of July 2026, 17 approvals have been recorded. The population has declined recently, but housing supply has remained adequate relative to demand, creating a balanced market with good buyer choice.

New properties are constructed at an average expected construction cost value of $549,000. In the current financial year ending June 2026, $8.3 million in commercial approvals have been registered, suggesting the area's residential character. Recent construction comprises 46.0% standalone homes and 54.0% attached dwellings, marking a shift from existing housing patterns which are currently 77.0% houses. This skew toward compact living offers affordable entry pathways, attracting downsizers, investors, and first-time purchasers.

Macleod indicates a mature market with around 401 people per approval. Future projections show Macleod adding 4,540 residents by 2041, based on the latest AreaSearch quarterly estimate as of March 2023. If current development rates continue, housing supply may not keep pace with population growth, potentially increasing competition among buyers and supporting stronger price growth.

Macleod has very high levels of nearby infrastructure activity, ranking in the top 10% nationally

Twelve infrastructure projects have been identified by AreaSearch as potentially impacting the area. Key projects include 149 McKimmies Road Residential Precinct, Bundoora Centre Expansion, La Trobe University's City of the Future initiative, and RMIT University's developments at its Bundoora Campus. The following list details those projects likely to be most relevant.

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

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

Macleod's workforce is highly educated with significant representation in professional services. The unemployment rate was 1.2% as of June 2025, showing a 2.3% employment growth over the past year based on AreaSearch data aggregation.

In June 2025, 5,892 residents were employed, with an unemployment rate of 3.4%, lower than Greater Melbourne's 4.6%. Workforce participation was at par with Greater Melbourne's 64.1%. Dominant employment sectors included health care & social assistance, professional & technical services, and education & training, with the latter being particularly notable at 1.3 times the regional average. Conversely, manufacturing showed lower representation at 5.0% compared to the regional average of 7.2%.

Employment opportunities locally appeared limited as indicated by Census data on working population vs resident population. Between June 2024 and June 2025, employment increased by 2.3%, labour force by 1.7%, reducing unemployment rate by 0.5 percentage points. In contrast, Greater Melbourne saw employment growth of 3.5% and labour force growth of 4.0%, with a corresponding rise in unemployment rate by 0.5 percentage points. Jobs and Skills Australia's national employment forecasts from Sep-22 project national employment expansion by 6.6% over five years and 13.7% over ten years, with varying rates between industry sectors. 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.

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 Macleod had a median taxpayer income of $62,746 and an average income of $83,071. These figures are among the highest in Australia, compared to Greater Melbourne's median of $54,892 and average of $73,761. Based on Wage Price Index growth of 12.16% since financial year 2022, estimated current incomes as of September 2025 are approximately $70,376 (median) and $93,172 (average). According to 2021 Census figures, Macleod's household, family, and personal incomes cluster around the 65th percentile nationally. Income distribution shows that 28.8% of the population (3,025 individuals) fall within the $1,500 - $2,999 range, aligning with the region where this cohort represents 32.8%. The locality demonstrates affluence with 31.6% earning over $3,000 per week, supporting premium retail and service offerings. After housing costs, 85.1% of income remains for other expenses, and Macleod's SEIFA income ranking places it in the 8th decile.

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

Macleod's dwelling structures, as per the latest Census, consisted of 76.7% houses and 23.4% other dwellings (semi-detached, apartments, 'other' dwellings). In contrast, Melbourne metro had 0.0% houses and 0.0% other dwellings. Home ownership in Macleod stood at 38.7%, with mortgaged dwellings at 37.7% and rented dwellings at 23.6%. The median monthly mortgage repayment was $2,296, matching Melbourne metro's average, while the median weekly rent was $396. Nationally, Macleod's mortgage repayments exceeded the Australian average of $1,863 by $433, and rents surpassed the national figure of $375 by $21.

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 make up the remaining 30.4%, with lone person households at 27.3% and group households comprising 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 high, with 43.1% of residents aged 15+ holding university qualifications, compared to 30.4% nationally and 32.8% in the SA4 region. 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+ holding such qualifications - advanced diplomas (11.1%) and certificates (14.2%). Educational participation is high, with 27.8% of residents currently enrolled in formal education, including 8.4% in primary, 7.6% in secondary, and 6.3% pursuing tertiary education.

Macleod has 4 schools with a combined enrollment of 1,339 students, operating under typical Australian school conditions (ICSEA: 1005) and offering balanced educational opportunities. All 4 schools provide integrated K-12 education for academic continuity.

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

Macleod has 38 active public transport stops offering a mix of train and bus services. These are served by 4 routes that facilitate 2,782 weekly passenger trips in total. Residents enjoy good transport accessibility, with an average distance of 227 meters to the nearest stop.

The service operates at a frequency of 397 trips per day across all routes, resulting in approximately 73 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's health indicators show below-average results, with common health conditions being somewhat prevalent across both younger and older age cohorts.

The rate of private health cover is exceptionally high at approximately 60% of the total population, which numbered 6,260 people in Macleod as of a recent report. Mental health issues impacted 9.0% of residents, while arthritis affected 7.9%. In contrast, 68.1% declared themselves completely clear of medical ailments, compared to 0% across Greater Melbourne. As of the same report, 19.4% of Macleod's residents were aged 65 and over, totaling 2,038 people. Health outcomes among seniors present some challenges, broadly in line with the general population's health profile.

Macleod 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

Macleod's population was found to be more culturally diverse than most local markets, with 26.3% born overseas and 23.0% speaking a language other than English at home. Christianity was the predominant religion in Macleod, comprising 48.9% of its population. However, Judaism was notably overrepresented, making up 0.1% compared to None% across Greater Melbourne.

In terms of ancestry, the top three groups were English (22.6%), Australian (20.6%), and Other (9.4%). Some other ethnic groups showed significant differences: Macedonian at 1.6% in Macleod (vs None% regionally), Croatian at 1.4% (vs None%), and Italian at 8.1% (vs None%).

Macleod hosts an older demographic, ranking in the top quartile nationwide

Macleod has a median age of 41 years, which is higher than Greater Melbourne's average of 37 and Australia's median of 38. The proportion of people aged 85 and above in Macleod is notably higher at 4.0% compared to the Greater Melbourne average, while those aged 25 to 34 are under-represented at 12.2%. Post-2021 Census, the population aged 15 to 24 has increased from 10.7% to 13.9%, while the 0 to 4 age group has decreased from 5.9% to 5.1%. By 2041, Macleod's age profile is projected to change significantly. The 45 to 54 age cohort is expected to grow by 47%, adding 692 residents to reach a total of 2,174.