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

Based on AreaSearch's analysis, Bannockburn's population is around 9,063 as of Feb 2026. This reflects an increase of 1,309 people (16.9%) since the 2021 Census, which reported a population of 7,754 people. The change is inferred from the estimated resident population of 8,298 from the ABS as of June 2024 and an additional 305 validated new addresses since the Census date. This population level equates to a density ratio of 47 persons per square kilometer, providing ample space per person. Bannockburn's 16.9% growth since the 2021 census exceeded that of the Rest of Vic. (8.1%) and the national average, marking it as a growth leader in the region. Population growth for the area was primarily driven by interstate migration, which contributed approximately 69.9% of overall population gains during recent periods, although all drivers, including natural growth and overseas migration, were positive factors.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, as released in 2024 with 2022 as the base year. For any SA2 areas not covered by this data, AreaSearch is utilising the VIC State Government's Regional/LGA projections released in 2023, with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations are also applied across all areas for years 2032 to 2041. Considering the projected demographic shifts, exceptional growth, placing it in the top 10 percent of national regional areas, is predicted over the period, with the area expected to expand by 6,136 persons to 2041 based on the latest annual ERP population numbers, reflecting an increase of 59.3% in total over the 17 years.

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

Bannockburn has averaged around 69 new dwelling approvals annually, with 348 homes approved over the past 5 financial years (between FY-21 and FY-25) and 36 so far in FY-26. With an average of 2.7 people per year moving to the area per new home constructed over the past 5 financial years (between FY-21 and FY-25), indicating healthy demand that should support property values, new homes are being built at an average construction cost of $378,000—somewhat higher than regional norms—reflecting quality-focused development. Additionally, $9.1 million in commercial development approvals have been recorded this financial year, indicating a limited commercial development focus.

When measured against the Rest of Vic., Bannockburn shows comparable building activity (per person), supporting market stability in line with regional patterns. New building activity consists of 96.0% detached houses and 4.0% attached dwellings, maintaining the area's traditional low-density character with a focus on family homes appealing to those seeking space. With around 168 people per dwelling approval, Bannockburn shows characteristics of a growth area.

Population forecasts indicate Bannockburn will gain 5,371 residents through to 2041 (from the latest AreaSearch quarterly estimate). Should current construction levels persist, housing supply could lag population growth, likely intensifying buyer competition and underpinning price growth.

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

Nothing can influence an area's performance as much as changes to local infrastructure, major projects, and planning initiatives. In total, 10 projects have been identified by AreaSearch that are likely to have an impact on the area. Key projects include Brand New Commercial Spaces in Bannockburn, St Mary MacKillop Catholic Primary School Upgrade, the Bannockburn South East Precinct Structure Plan, and the Bannockburn North West Development Plan Area, with the list below detailing those likely to be of most relevance.

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

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Employment conditions in Bannockburn demonstrate exceptional strength compared to most Australian markets

Bannockburn features a skilled workforce, with essential services sectors well represented, and an unemployment rate of just 2.4%. As of December 2025, 4,465 residents are in work while the unemployment rate is 1.3% below Regional Vic.'s rate of 3.7%, and workforce participation is well beyond standard (72.6% compared to Regional Vic.'s 61.5%). Based on Census responses, a moderate 17.9% of residents were found to work from home, though Covid-19 lockdown impacts should be considered.

Leading employment industries among residents comprise construction, health care & social assistance, and retail trade. The area has particular employment specialization in construction, with an employment share of 1.5 times the regional level. Conversely, agriculture, forestry & fishing shows lower representation at 3.4% versus the regional average of 7.5%. The area appears to offer limited employment opportunities locally, as indicated by the count of Census working population vs resident population.

Based on AreaSearch analysis of SALM and ABS data, during the year to December 2025, the labour force decreased by 0.8% while employment declined by 0.5%, causing the unemployment rate to fall by 0.3 percentage points. This contrasts with Regional Vic., where employment contracted by 0.6%, the labour force fell by 0.7%, and unemployment fell 0.1 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 can offer further insight into potential future demand within Bannockburn. These projections, covering five and ten-year periods, have been mapped against the local employment profile to estimate growth patterns. While national employment is forecast to expand by 6.6% over five years and 13.7% over ten years, growth rates differ significantly between industry sectors. Applying these industry-specific projections to Bannockburn's employment mix suggests local employment should increase by 6.2% over five years and 13.0% over ten years (please note this is a simple weighting extrapolation for illustrative purposes and does not take into account localised 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 the latest postcode level ATO data released for FY-23, the Bannockburn SA2 had a median income among taxpayers of $57,808 with the average level standing at $70,246. This is above the national average and compares to levels of $50,954 and $62,728 across Regional Vic. respectively. Based on Wage Price Index growth of 8.25% since FY-23, current estimates would be approximately $62,577 (median) and $76,041 (average) as of September 2025. Census data reveals household, family and personal incomes in Bannockburn cluster around the 68th percentile nationally. Income analysis reveals the $1,500 - 2,999 earnings band captures 37.7% of the community (3,416 individuals), mirroring the broader area where 30.3% occupy this bracket. Housing accounts for 13.7% of income while strong earnings rank residents within the 78th percentile for disposable income and 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

Dwelling structure within Bannockburn, as evaluated at the latest Census, comprised 96.3% houses and 3.6% other dwellings (semi-detached, apartments, 'other' dwellings), in comparison to Regional Vic.'s 90.1% houses and 9.9% other dwellings. Meanwhile, the level of home ownership within Bannockburn was lagging that of Regional Vic., at 31.6%, with the remainder of dwellings either mortgaged (58.0%) or rented (10.4%). The median monthly mortgage repayment in the area was well above the Regional Vic. average at $1,907, while the median weekly rent figure was recorded at $386, compared to Regional Vic.'s $1,430 and $285. Nationally, Bannockburn's mortgage repayments are higher than the Australian average of $1,863, while rents are exceeding the national figure of $375.

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

Family households dominate at 86.0% of all households, comprising 48.1% couples with children, 28.0% couples without children, and 9.5% single parent families. Non-family households make up the remaining 14.0%, with lone person households at 13.0% and group households comprising 0.9% of the total. The median household size of 3.0 people is 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 faces educational challenges, with university qualification rates (19.1%) substantially below the VIC average of 33.4%. This represents both a challenge and an opportunity for targeted educational initiatives. Bachelor degrees lead at 13.3%, followed by graduate diplomas (3.1%) and postgraduate qualifications (2.7%). Trade and technical skills feature prominently, with 44.4% of residents aged 15+ holding vocational credentials, including advanced diplomas (12.3%) and certificates (32.1%).

Educational participation is notably high, with 32.8% of residents 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

Public transport analysis reveals 5 active transport stops operating within Bannockburn. These stops are serviced by 1 individual route, collectively providing 10 weekly passenger trips. Transport accessibility is rated as limited, with residents typically located 1029 meters from the nearest transport stop. As a primarily residential area, most residents commute outward; the car remains the dominant mode at 96%. Vehicle ownership averages 2.2 per dwelling, which is above the regional average. Some 17.9% of residents work from home (2021 Census; may reflect COVID-19 conditions).

Service frequency averages 1 trip per day across all routes, equating to approximately 2 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 of mortality rates and chronic condition prevalence. Common health conditions are somewhat prevalent across both younger and older age cohorts, and the rate of private health cover just leads the average SA2 area at approximately 54% of the total population (~4,884 people). This compares to 50.5% across Regional Vic..

The most common medical conditions in the area were found to be asthma and mental health issues, impacting 9.4 and 8.3% of residents, respectively, while 69.5% declared themselves as completely clear of medical ailments compared to 63.4% across Regional 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), which is lower than the 23.9% in Regional Vic.. 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 was found to be below average in terms of cultural diversity, with 90.2% of its population born in Australia, 93.1% being citizens, and 96.0% speaking English only at home. The main religion in Bannockburn is Christianity, which makes up 48.2% of people in Bannockburn, compared to 47.3% across Regional Vic..

In terms of ancestry (country of birth of parents), the top three represented groups in Bannockburn are Australian, comprising 32.8% of the population, English, comprising 29.4% of the population, and Irish, comprising 8.7% of the population. Additionally, there are notable divergences in the representation of certain other ethnic groups: Dutch is notably overrepresented at 2.4% of Bannockburn (vs 1.7% regionally), Croatian at 1.4% (vs 0.4%) and Hungarian at 0.4% (vs 0.2%).

Bannockburn's population is slightly younger than the national pattern

The 36-year median age in Bannockburn is significantly below Regional Vic.'s average of 43 and somewhat younger than Australia's 38 years. The 5 - 14 age group shows strong representation at 17.0% compared to Regional Vic., whereas the 65 - 74 cohort is less prevalent at 8.0%. Post-2021 Census data shows the 35 to 44 age group has grown from 14.8% to 17.0% of the population. Conversely, the 45 to 54 cohort has declined from 13.8% to 12.9%. Population forecasts for 2041 indicate substantial demographic changes for Bannockburn. Leading the demographic shift, the 25 to 34 group will grow by 90% (956 people), reaching 2,013 from 1,056.