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 is approximately 9,063 as of February 2026. This figure reflects a growth of 1,309 people (16.9%) since the 2021 Census, which reported a population of 7,754. The increase is inferred from ABS's estimated resident population of 8,298 in June 2024 and an additional 305 validated new addresses since the Census date. This results in a population density of 47 persons per square kilometer. Bannockburn's growth rate surpassed Rest of Vic.'s (8.1%) and the national average between 2021 and February 2026, making it a leader in regional growth. Interstate migration contributed approximately 69.9% to this growth. AreaSearch uses ABS/Geoscience Australia projections released in 2024 with a base year of 2022 for each SA2 area.

For areas not covered by this data, AreaSearch employs VIC 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 until 2041. Based on these projections, Bannockburn is expected to experience exceptional growth, placing it in the top 10 percent of national regional areas, with a projected population increase of 6,136 persons by 2041, reflecting an overall increase of 59.3% over the 17-year period.

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

Bannockburn averaged approximately 69 new dwelling approvals annually. Between FY21-FY25348 homes were approved, with an additional 33 approved in FY26 so far. Over the past five financial years, an average of 2.7 people moved to the area per new home constructed, indicating healthy demand for housing.

The average construction cost value of new homes was $378,000, reflecting quality-focused development. This year, $9.1 million in commercial development approvals have been recorded, suggesting limited commercial development focus compared to residential growth. When compared with the rest of Victoria, Bannockburn shows comparable building activity per person, supporting market stability inline with regional patterns.

New building activity comprises 96.0% detached houses and 4.0% attached dwellings, maintaining the area's traditional low density character focused on family homes. With around 168 people per dwelling approval, Bannockburn exhibits characteristics of a growth area. According to AreaSearch's latest quarterly estimate, Bannockburn is forecasted to gain approximately 5,371 residents by 2041. If current construction levels persist, housing supply may lag population growth, potentially intensifying buyer competition and underpinning price growth in the future.

Bannockburn has moderate levels of nearby infrastructure activity, ranking in the 43rdth percentile nationally

Ten projects identified by AreaSearch are expected to impact the area significantly, with key initiatives including 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 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 labour market in Bannockburn shows considerable strength compared to most other Australian regions

Bannockburn has a skilled workforce with prominent representation in essential services sectors. Its unemployment rate was 2.4% as of September 2025, lower than the Rest of Vic.'s rate of 3.8%. Over the past year, employment stability has been relative.

As of September 2025, 4,471 residents are employed, with an unemployment rate of 1.3% below the regional average and workforce participation at 72.8%, compared to Rest of Vic.'s 61.4%. According to Census responses, 17.9% of residents work from home, potentially influenced by Covid-19 lockdown impacts. Key employment industries include construction, health care & social assistance, and retail trade. The area specializes in construction, with an employment share 1.5 times the regional level, but has lower representation in agriculture, forestry & fishing at 3.4% versus the regional average of 7.5%.

Local employment opportunities appear limited based on Census working population vs resident population comparison. Between September 2024 and September 2025, Bannockburn's labour force decreased by 0.2%, while employment declined by 0.3%, leading to a rise in unemployment rate of 0.1 percentage points. In contrast, Rest of Vic.'s employment contracted by 0.7%, labour force fell by 0.6%, and unemployment rose marginally. National employment forecasts from Jobs and Skills Australia (May-25) project national employment growth at 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 simplified extrapolation for illustrative purposes and does not consider localized population projections.

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

According to AreaSearch's aggregation of ATO data released on 30 June 2023 for financial year 2023, Bannockburn SA2 had a median income among taxpayers of $57,808 and an average level of $70,246. These figures are higher than the national averages. In comparison, Rest of Vic had median and average incomes of $50,954 and $62,728 respectively. Based on Wage Price Index growth of 8.25% since financial year 2023, estimated current incomes as of September 2025 are approximately $62,577 (median) and $76,041 (average). Census data shows that household, family, and personal incomes in Bannockburn cluster around the 68th percentile nationally. Income analysis reveals that 37.7% of the community earns between $1,500 and $2,999 (3,416 individuals), similar to the broader area where 30.3% fall into this bracket. Housing expenses account for 13.7% of income. Residents rank in the 78th percentile for disposable income. 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

The latest Census evaluation of Bannockburn's dwelling structure showed 96.3% houses and 3.6% other dwellings (including semi-detached, apartments, 'other' dwellings). In comparison, Non-Metro Vic had 90.1% houses and 9.9% other dwellings. Home ownership in Bannockburn was 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 Non-Metro Vic's average of $1,430. The median weekly rent figure in Bannockburn was $386, compared to Non-Metro 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 constitute 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 account for the remaining 14.0%, with lone person households at 13.0% and group households comprising 0.9%. The median household size is 3.0 people, which is larger than the Rest of 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 at 3.1% and postgraduate qualifications at 2.7%. Vocational credentials are prevalent, with 44.4% of residents aged 15+ holding them, including advanced diplomas (12.3%) and certificates (32.1%). Educational participation is high, with 32.8% currently enrolled in formal education.

This includes 13.2% in primary, 9.7% in secondary, and 2.8% in 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 outside the area, with cars being 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 due to COVID-19 conditions.

Service frequency averages one trip per day across all routes, resulting in about two weekly trips per individual 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 based on AreaSearch's assessment. Mortality rates and chronic condition prevalence are somewhat prevalent across both younger and older age cohorts.

The rate of private health cover is approximately 54% of the total population (~4,884 people), leading that of the average SA2 area but slightly lower than the Rest of Vic.'s 50.5%. The most common medical conditions in the area are asthma and mental health issues, impacting 9.4 and 8.3% of residents respectively. Conversely, 69.5% of residents declared themselves completely clear of medical ailments, compared to 63.4% across Rest of Vic.. Health outcomes among the working-age population are broadly typical. The area has 13.3% of residents aged 65 and over (1,202 people), lower than Rest of Vic.'s 23.9%. Health outcomes among seniors present some challenges, with national rankings broadly in line with the general 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, had a predominantly Australian-born population with 90.2% of its residents born in Australia. This is lower than the national average. The majority of Bannockburn's population were also citizens at 93.1%, and English was spoken exclusively at home by 96.0%.

Christianity was the dominant religion, practiced by 48.2% of the population, which is slightly higher than the state average of 47.3%. The top three ancestry groups in Bannockburn were Australian (32.8%), English (29.4%), and Irish (8.7%). Notably, Dutch ancestry was overrepresented at 2.4%, compared to the regional average of 1.7%. Similarly, Croatian ancestry was higher than average at 1.4% versus 0.4%, and Hungarian ancestry, though smaller in scale, was also higher at 0.4% compared to the regional average of 0.2%.

Bannockburn's population is slightly younger than the national pattern

The median age in Bannockburn is 36 years, which is significantly below Rest of Vic.'s average of 43 years and somewhat younger than Australia's median age of 38 years. The 5-14 age group comprises 17.0% of the population compared to Rest of Vic., while the 65-74 cohort makes up 8.0%. According to post-2021 Census data, the 35-44 age group has increased from 14.8% to 17.0%, and the 45-54 cohort has decreased from 13.8% to 12.9%. Population forecasts for 2041 indicate substantial demographic changes in Bannockburn, with the 25-34 age group projected to grow by 90% (from 1,056 to 2,013 people).