Castlemaine

Castlemaine has seen population growth performance typically on par with national averages when looking at short and medium term trends

Based on AreaSearch's analysis, Castlemaine's population is around 12,394 as of Feb 2026. This reflects an increase of 1,042 people (9.2%) since the 2021 Census, which reported a population of 11,352 people. The change is inferred from the estimated resident population of 11,538 from the ABS as of June 2024 and an additional 359 validated new addresses since the Census date. This population level equates to a density ratio of 147 persons per square kilometer, providing significant space per person and potential room for further development. Castlemaine's 9.2% growth since the 2021 census exceeded the SA3 area (6.8%) and the SA4 region, marking it as a growth leader in the region. Population growth for the area was primarily driven by interstate migration, which contributed approximately 58.2% of overall population gains during recent periods.

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. Looking at population projections moving forward, projections indicate a decline in overall population, with the area's population expected to shrink by 569 persons by 2041 according to this methodology. However, growth across specific age cohorts is anticipated, led by the 35 to 44 age group, which is projected to increase by 173 people. See the age section for more details.

Recent residential development output has been above average within Castlemaine when compared nationally

Castlemaine has experienced around 91 dwellings receiving development approval annually, totalling 456 homes over the past 5 financial years. So far in FY-26, 31 approvals have been recorded. Given an average of only 0.9 new residents per year per dwelling constructed over the past 5 financial years (between FY-21 and FY-25), new supply is keeping pace with or exceeding demand, offering ample buyer choice and creating capacity for population growth beyond current forecasts, while new properties are constructed at an average value of $300,000. There have also been $100.2 million in commercial approvals this financial year, suggesting robust local business investment.

Compared to the rest of Victoria, Castlemaine has slightly more development (19.0% above regional average per person over the 5 year period), maintaining good buyer choice while supporting existing property values, though development activity has moderated in recent periods. Recent construction comprises 89.0% detached dwellings and 11.0% medium and high-density housing, maintaining the area's traditional low density character with a focus on family homes appealing to those seeking space. At around 172 people per approval, Castlemaine reflects a developing area.

Given stable or declining population forecasts, Castlemaine may experience less housing pressure, creating favourable conditions for buyers.

Castlemaine has moderate levels of nearby infrastructure activity, ranking in the 41stth percentile nationally

Nothing can influence an area's performance as much as changes to local infrastructure, major projects, and planning initiatives. In total 11 projects have been identified by AreaSearch that are likely to have an impact on the area. Key projects include the Levee Banks Project, Frederick Street Precinct Project, Haven Castlemaine, and the Castlemaine Water Reclamation Plant Upgrade, 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.

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.

Employment conditions in Castlemaine remain below the national average according to AreaSearch analysis

Castlemaine features a well-educated workforce, with essential services sectors well represented, an unemployment rate of only 3.5%, and 1.6% in estimated employment growth over the past year. As of December 2025, 4,905 residents are in work, while the unemployment rate is 0.2% below Regional Vic.'s rate of 3.7%, and workforce participation lags significantly (51.5% compared to Regional Vic.'s 61.5%). Based on Census responses, a high 29.7% of residents were found to work from home, though Covid-19 lockdown impacts should be considered.

Employment among residents is concentrated in health care & social assistance, education & training, and manufacturing. The area has a particular employment specialization in education & training, with an employment share 1.3 times the regional level. Meanwhile, agriculture, forestry & fishing has a limited presence with 1.3% employment compared to 7.5% regionally. While local employment opportunities exist in the area, it appears many residents commute elsewhere for work, based on the count of Census working population to local population.

Based on AreaSearch analysis of SALM and ABS data, the 12-month period saw employment increasing by 1.6% alongside the labour force increasing by 1.8%, resulting in unemployment rising by 0.2 percentage points. In contrast, Regional Vic. experienced an employment decline of 0.6% and a labour force decline of 0.7%, with a 0.1 percentage point drop. Jobs and Skills Australia's national employment forecasts from May-25 can offer further insight into potential future demand within Castlemaine. 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 Castlemaine's employment mix suggests local employment should increase by 6.4% over five years and 13.6% over ten years (please note this is a simple weighting extrapolation for illustrative purposes and does not take into account localised population projections).

The area's income levels rank in the lower 15% nationally based on AreaSearch comparative data

The Castlemaine SA2's income level is below the national average according to the latest ATO data aggregated by AreaSearch for FY-23. The Castlemaine SA2's median income among taxpayers is $46,172 and the average income stands at $59,657, which compares to figures for Regional Vic.'s of $50,954 and $62,728 respectively. Based on Wage Price Index growth of 8.25% since FY-23, current estimates would be approximately $49,981 (median) and $64,579 (average) as of September 2025. According to 2021 Census figures, household, family and personal incomes in Castlemaine all fall between the 13th and 25th percentiles nationally. Looking at income distribution, the largest segment comprises 27.5% earning $1,500 - 2,999 weekly (3,408 residents), reflecting patterns seen in the broader area where 30.3% similarly occupy this range. After housing, 86.3% of income remains, though this ranks at only the 16th percentile nationally and the area's SEIFA income ranking places it in the 5th decile.

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

Dwelling structure within Castlemaine, as evaluated at the latest Census, comprised 94.4% houses and 5.5% 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 Castlemaine was well beyond that of Regional Vic., at 48.3%, with the remainder of dwellings either mortgaged (31.1%) or rented (20.6%). The median monthly mortgage repayment in the area was below the Regional Vic. average at $1,408, while the median weekly rent figure was recorded at $310, compared to Regional Vic.'s $1,430 and $285. Nationally, Castlemaine's mortgage repayments are significantly lower than the Australian average of $1,863, while rents are substantially below the national figure of $375.

Castlemaine features high concentrations of lone person households, with a lower-than-average median household size

Family households dominate at 61.1% of all households, comprising 19.8% couples with children, 29.0% couples without children, and 11.6% single parent families. Non-family households make up the remaining 38.9%, with lone person households at 35.9% and group households comprising 3.1% of the total. The median household size of 2.1 people is smaller than the Regional Vic. average of 2.4.

Castlemaine shows strong educational performance, ranking in the upper quartile nationally when assessed across multiple qualification and achievement indicators

Educational attainment in Castlemaine significantly surpasses broader benchmarks, with 36.7% of residents aged 15+ holding university qualifications compared to 21.7% in Rest of Vic. and 25.4% in SA4 region. This substantial educational advantage positions the area strongly for knowledge-based opportunities. Bachelor degrees lead at 20.8%, followed by postgraduate qualifications (9.9%) and graduate diplomas (6.0%). Trade and technical skills feature prominently, with 29.8% of residents aged 15+ holding vocational credentials, including advanced diplomas (11.7%) and certificates (18.1%).

Educational participation is notably high, with 30.7% of residents currently enrolled in formal education. This includes 10.3% in primary education, 9.2% in secondary education, and 4.6% pursuing tertiary education.

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

Public transport analysis reveals 63 active transport stops operating within Castlemaine, comprising a mix of train services. These stops are serviced by 15 individual routes, collectively providing 531 weekly passenger trips. Transport accessibility is rated as moderate, with residents typically located 409 meters from the nearest transport stop. As a primarily residential area, most residents commute outward; the car remains the dominant mode at 84%, with 7% walking and 3% cycling. Vehicle ownership averages 1.2 per dwelling, which is below the regional average. A high 29.7% of residents work from home (2021 Census; may reflect COVID-19 conditions).

Service frequency averages 75 trips per day across all routes, equating to approximately 8 weekly trips per individual stop.

Castlemaine's residents are healthier than average in comparison to broader Australia with a fairly standard level of common health conditions seen across both young and old age cohorts

Health data indicates relatively positive outcomes for Castlemaine residents, with AreaSearch's analysis of mortality rates and health conditions showing results broadly in line with national benchmarks. A fairly standard level of common health conditions is seen across both young and old age cohorts, and the rate of private health cover is found to be low at approximately 49% of the total population (~6,060 people). The national average is 55.7%.

The most common medical conditions in the area are arthritis and mental health issues, impacting 11.3% and 10.4% of residents, respectively, while 60.8% declared themselves as completely clear of medical ailments compared to 63.4% across Regional Vic.. Working-age residents show an above-average prevalence of chronic health conditions. The area has 28.3% of residents aged 65 and over (3,502 people), which is higher than the 23.9% in Regional Vic.. Health outcomes among seniors are above average, with national rankings even higher than those of the general population.

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

Castlemaine was found to be below average in terms of cultural diversity, with 86.0% of its population being citizens, 85.7% born in Australia, and 95.7% speaking English only at home. The main religion in Castlemaine is Christianity, which makes up 28.7% of the population. However, the most apparent overrepresentation is in Judaism, which comprises 0.3% of the population, compared to 0.1% across Regional Vic..

In terms of ancestry (country of birth of parents), the top three represented groups in Castlemaine are English, comprising 32.5% of the population, Australian, comprising 25.8% of the population, and Irish, comprising 12.3% of the population. Additionally, there are notable divergences in the representation of certain other ethnic groups: Scottish is notably overrepresented at 10.9% of Castlemaine (vs 8.8% regionally), Welsh at 0.8% (vs 0.4%) and German at 3.9% (vs 3.5%).

Castlemaine ranks among the oldest 10% of areas nationwide

With a median age of 49, Castlemaine notably exceeds the Regional Vic. figure of 43 and is well above Australia's 38 years. Compared to the Regional Vic. average, the 45 - 54 cohort is notably over-represented (13.4% locally), while 15 - 24 year-olds are under-represented (7.2%). In the period since 2021, the 35 to 44 age group has grown from 12.0% to 13.8% of the population. Conversely, the 65 to 74 cohort has declined from 15.7% to 14.5% and the 55 to 64 group dropped from 14.4% to 13.3%. Looking ahead to 2041, demographic projections reveal significant shifts in Castlemaine's age structure. The 85+ age cohort is projected to experience strong growth, expanding by 104 people (21%) from 492 to 597. Senior residents (65+) will drive 90% of population growth, underscoring demographic aging trends. In contrast, population declines are projected for the 0 to 4 and 25 to 34 cohorts.