Bannockburn

Bannockburn lies within the top 10% of areas nationally in terms of population growth performance according to AreaSearch analysis of short and medium-term trends

Bannockburn's population, as of May 2026, is approximately 8,578. This figure represents an increase of 824 people since the 2021 Census, which reported a population of 7,754. The change was inferred from the estimated resident population of 8,395 in June 2025 and an additional 303 validated new addresses since the Census date. This results in a population density ratio of 44 persons per square kilometer. Bannockburn's growth rate of 10.6% since the 2021 census exceeds that of both the Rest of Vic (4.3%) and its SA4 region, indicating it as a growth leader. Interstate migration contributed approximately 53.9% to overall population gains during recent periods, with natural growth and overseas migration also being positive factors. 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 from 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. By 2041, Bannockburn is projected to grow by 5,809 persons, reflecting a total gain of 65.6% over the 16-year period, placing it in the top 10 percent of Australia's non-metropolitan areas for population growth.

AreaSearch assessment of residential development activity positions Bannockburn among the top 25% of areas assessed nationwide

Bannockburn has received approximately 69 dwelling approvals per year over the past five financial years, totalling 348 homes. As of FY26 so far, 51 approvals have been recorded. On average, each dwelling has attracted around 2.7 new residents annually between FY21 and FY25, indicating strong demand that supports property values. The average construction cost value for new homes is $378,000, slightly above the regional average, suggesting a focus on quality developments.

This financial year has seen $9.1 million in commercial approvals, reflecting the area's primarily residential nature. Compared to Rest of Vic., Bannockburn exhibits similar building activity per capita, contributing to market stability aligned with regional trends. The majority of new building activity comprises detached dwellings at 96.0%, with medium and high-density housing making up 4.0%, preserving the area's low density character and attracting space-seeking buyers.

There are approximately 168 people for each dwelling approval, indicating an expanding market. By 2041, Bannockburn is projected to grow by 5,626 residents, according to the latest AreaSearch quarterly estimate. If current development rates continue, housing supply may not keep pace with population growth, potentially intensifying competition among buyers and supporting stronger price growth.

Bannockburn has moderate levels of nearby infrastructure activity, ranking in the 45thth percentile nationally

Nine projects have been identified by AreaSearch as potentially impacting the area's performance. These include Brand New Commercial Spaces in Bannockburn, St Mary MacKillop Catholic Primary School Upgrade, Bannockburn South East Precinct Structure Plan, and Bannockburn North West Development Plan Area. The below list details those likely to be most relevant.

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

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Bannockburn ranks among the top 25% of areas assessed nationally for overall employment performance

Bannockburn's skilled workforce has an unemployment rate of 2.4%. As of December 2025, 4,465 residents are employed with an unemployment rate of 1.3% lower than Regional Vic.'s rate of 3.7%. Workforce participation is high at 71.4%, compared to Regional Vic.'s 61.0%.

According to Census responses, 17.9% of residents work from home. Key industries include construction, health care & social assistance, and retail trade. Construction employment is particularly strong, with a share 1.5 times the regional level. Conversely, agriculture, forestry & fishing has lower representation at 3.4%.

The area may have limited local employment opportunities, as indicated by Census working population vs resident population comparison. Between December 2024 and November 2025, Bannockburn's labour force decreased by 0.8%, with employment declining by 0.5%, leading to a 0.3 percentage point drop in unemployment rate. In contrast, Regional Vic.'s employment contracted by 0.6%, labour force fell by 0.7%, and unemployment fell by 0.1 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 project national employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Bannockburn's employment mix suggests local employment should increase by 6.2% over five years and 13.0% over ten years, though this is a simple weighting extrapolation for illustrative purposes and does not consider localised population projections.

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

The median income of taxpayers in Bannockburn SA2 was $57,808 in financial year 2023. The average income stood at $70,246 during the same period. These figures are higher than those for Regional Vic., which were $50,954 and $62,728 respectively. Based on a Wage Price Index growth of 9.62% since financial year 2023, estimated incomes as of March 2026 would be approximately $63,369 (median) and $77,004 (average). Census data shows that household, family, and personal incomes in Bannockburn cluster around the 68th percentile nationally. The income distribution indicates that 37.7% of individuals earn between $1,500 and $2,999, which is consistent with surrounding regional trends at 30.3%. Housing expenses account for 13.7% of income. Residents rank highly in disposable income, placing them within the 78th percentile nationally. The area's SEIFA income ranking places it in the 6th decile.

Bannockburn is characterized by a predominantly suburban housing profile, with ownership patterns similar to the broader region

Bannockburn's dwelling structure, as per the latest Census, consisted of 96.3% houses and 3.6% other dwellings (semi-detached, apartments, 'other' dwellings). This is compared to Regional Vic.'s 90.1% houses and 9.9% other dwellings. Home ownership in Bannockburn stood at 31.6%, with mortgaged dwellings at 58.0% and rented ones at 10.4%. The median monthly mortgage repayment was $1,907, higher than Regional Vic.'s average of $1,430. The median weekly rent in Bannockburn was $386, compared to Regional Vic.'s $285. Nationally, Bannockburn's mortgage repayments exceeded the Australian average of $1,863, while rents were higher than the national figure of $375.

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

Family households comprise 86.0% of all households, including 48.1% couples with children, 28.0% couples without children, and 9.5% single parent families. Non-family households constitute the remaining 14.0%, with lone person households at 13.0% and group households making up 0.9%. The median household size is 3.0 people, larger than the Regional Vic. average of 2.4.

The educational profile of Bannockburn exceeds national averages, with above-average qualification levels and academic performance metrics

The area's university qualification rate is 19.1%, significantly lower than Victoria's average of 33.4%. Bachelor degrees are the most common at 13.3%, followed by graduate diplomas (3.1%) and postgraduate qualifications (2.7%). Vocational credentials are held by 44.4% of residents aged 15+, with advanced diplomas at 12.3% and certificates at 32.1%. Educational participation is high, with 32.8% currently enrolled in formal education.

This includes 13.2% in primary education, 9.7% in secondary education, and 2.8% pursuing tertiary education.

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

Bannockburn has five active public transport stops. These are served by one route, offering ten weekly passenger trips in total. Transport accessibility is limited, with residents typically living 1029 meters from the nearest stop. Most residents commute outward due to its residential nature. Cars remain the primary mode of transport at 96%. On average, there are 2.2 vehicles per dwelling, higher than the regional norm.

According to the 2021 Census, 17.9% of residents work from home, which may be influenced by COVID-19 conditions. Service frequency averages one trip per day across all routes, equating to roughly two weekly trips per stop.

Health performance in Bannockburn is lower than average with common health conditions somewhat prevalent across both younger and older age cohorts

Bannockburn faces significant health challenges, as assessed by AreaSearch's analysis of mortality rates and chronic condition prevalence. Common health conditions are somewhat prevalent across both younger and older age cohorts.

The rate of private health cover is approximately 54% of the total population (~4623 people), slightly higher than the average SA2 area's 50.5%. The most common medical conditions are asthma, impacting 9.4%, and mental health issues, affecting 8.3%. However, 69.5% report being completely clear of medical ailments, compared to Regional Vic.'s 63.4%. Health outcomes among the working-age population are broadly typical. The area has 13.9% of residents aged 65 and over (1194 people), lower than Regional Vic.'s 23.9%. Health outcomes among seniors present some challenges, with national rankings generally in line with the overall population.

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

Bannockburn, as per the census data from June 2016, showed a lower than average level of cultural diversity. The population was predominantly born in Australia, with 90.2%, and held citizenship at 93.1%. English was spoken exclusively at home by 96.0% of residents.

Christianity was the predominant religion, practiced by 48.2% of people, slightly higher than the regional average of 47.3%. The ancestry breakdown showed Australians as the largest group at 32.8%, followed by English at 29.4% and Irish at 8.7%. Notably, Dutch ancestry was overrepresented in Bannockburn at 2.4%, compared to 1.7% regionally. Similarly, Croatian ancestry stood at 1.4% (vs regional 0.4%) and Hungarian at 0.4% (vs regional 0.2%).

Bannockburn's population is slightly younger than the national pattern

The median age in Bannockburn is 36 years, which is significantly below Regional Victoria's average of 43 years and somewhat younger than Australia's national average of 38 years. The age group of 5-14 years makes up 16.9% of the population, a strong representation compared to Regional Victoria. Conversely, the 65-74 age group is less prevalent at 8.2%. Post-2021 Census data shows that the 35 to 44 age group has grown from 14.8% to 16.1%, while the 45 to 54 age group has declined from 13.8% to 13.2%. Population forecasts for the year 2041 indicate substantial demographic changes in Bannockburn, with the 25 to 34 age group projected to grow by 98%, reaching a total of 1,924 people from the current figure of 970.