Castlemaine

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

Castlemaine's population, as per AreaSearch's analysis, stood at approximately 12,218 by November 2025. This figure represents an increase of 866 individuals, marking a 7.6% rise since the 2021 Census, which recorded a population of 11,352. This change is inferred from the estimated resident population of 11,580 in June 2024 and the addition of 355 validated new addresses post-Census date. The population density ratio is 145 persons per square kilometer, offering significant space per person and potential for further development. Castlemaine's growth since the 2021 census outpaced both the SA4 region (5.9%) and non-metro areas, positioning it as a regional growth leader. Interstate migration contributed approximately 58.2% of overall population gains during recent periods.

AreaSearch employs 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 uses VIC State Government's Regional/LGA projections from 2023, adjusted using weighted aggregation methods from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Looking ahead, population projections indicate a decline over this period, with the area's population expected to decrease by 569 persons by 2041. However, specific age cohorts are anticipated to grow, notably the 35-44 age group, projected to increase by 173 people.

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

Castlemaine has experienced approximately 91 dwelling approvals annually over the past five financial years, totalling 456 homes. In FY26 so far, 24 approvals have been recorded. The average new resident per year per dwelling constructed between FY21 and FY25 is 0.9. New supply is meeting or exceeding demand, providing ample buyer choice and capacity for population growth beyond current forecasts.

The average construction value of new properties is $300,000. This financial year has seen $100.2 million in commercial approvals, indicating strong local business investment. Compared to the rest of Victoria, Castlemaine has slightly more development, with 19.0% above the regional average per person over the five-year period.

This maintains good buyer choice while supporting existing property values, though recent activity has moderated. Recent construction comprises 89.0% detached dwellings and 11.0% medium and high-density housing, preserving the area's traditional low density character with a focus on family homes. With around 172 people per approval, Castlemaine reflects a developing area. Given stable or declining population forecasts, housing pressure may be lessened, creating favourable conditions for buyers.

Castlemaine has emerging levels of nearby infrastructure activity, ranking in the 32ndth percentile nationally

The performance of a region is significantly impacted by changes in local infrastructure, large-scale projects, and planning initiatives. AreaSearch has identified 11 such projects that could influence the area. Notable ones include the Levee Banks Project, Frederick Street Precinct Project, Haven Castlemaine, and the upgrade to the Castlemaine Water Reclamation Plant. The following list provides details on those expected to have the 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 has a well-educated workforce with significant representation in essential services sectors. Its unemployment rate is 3.6%, lower than the Rest of Vic.'s rate of 3.8%.

The area saw an employment growth of 1.9% over the past year up to September 2025, during which time 4,886 residents were in work. Workforce participation in Castlemaine lags behind the Rest of Vic., at 48.6% compared to 57.4%. Employment is concentrated in health care & social assistance, education & training, and manufacturing. Notably, employment in education & training is particularly high, with a share 1.3 times the regional level.

Conversely, agriculture, forestry & fishing has limited presence at 1.3%, compared to the regional average of 7.5%. Many residents commute elsewhere for work based on Census data. Over the 12 months prior to September 2025, employment increased by 1.9% while labour force rose by 2.7%, leading to an unemployment rate increase of 0.7 percentage points. In contrast, Rest of Vic. experienced a decline in employment and labour force, with marginal unemployment changes. Statewide data from November 25 shows VIC employment grew by 1.13% year-on-year, adding 41,950 jobs, with an unemployment rate of 4.7%, slightly higher than the national rate of 4.3%. Jobs and Skills Australia's national employment forecasts from May-25 project a 6.6% growth over five years and 13.7% over ten years. Applying these projections to Castlemaine's employment mix suggests local employment should increase by 6.4% over five years and 13.6% over ten years, assuming constant population projections.

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

The Castlemaine SA2 had a median taxpayer income of $45,289 and an average income of $58,691 in financial year 2022. These figures were below the national averages for Rest of Vic., which stood at $48,741 and $60,693 respectively. By September 2025, estimates based on a 12.16% Wage Price Index growth project median income to be approximately $50,796 and average income to be around $65,828. According to the 2021 Census, incomes in Castlemaine ranked between the 13th and 25th percentiles nationally for households, families, and individuals. The largest income segment comprised 27.5% earning $1,500 - $2,999 weekly, with a total of 3,359 residents in this bracket. This pattern was similar to the broader area, where 30.3% fell within this income range. After housing expenses, 86.3% of income remained, ranking at the 16th percentile nationally. The area's SEIFA income ranking placed it in the 5th decile.

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

As of the latest Census evaluation, dwelling structures in Castlemaine consisted of 94.4% houses and 5.5% other dwellings (semi-detached, apartments, 'other' dwellings). This compares to Non-Metro Vic.'s 95.2% houses and 4.8% other dwellings. Home ownership in Castlemaine was at 48.3%, with the remaining dwellings either mortgaged (31.1%) or rented (20.6%). The median monthly mortgage repayment in the area was $1,408, below Non-Metro Vic.'s average of $1,600. The median weekly rent figure was recorded at $310, compared to Non-Metro Vic.'s $320. Nationally, Castlemaine's mortgage repayments were significantly lower than the Australian average of $1,863, while rents were 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 constitute 61.1% of all households, including 19.8% couples with children, 29.0% couples without children, and 11.6% single parent families. Non-family households account for the remaining 38.9%, with lone person households making up 35.9% and group households comprising 3.1%. The median household size is 2.1 people, which is smaller than the Rest of 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 is notably high with 36.7% of residents aged 15+ holding university qualifications. This compares favourably to the broader benchmarks of 21.7% in Rest of Vic. and 25.4% in the SA4 region. Bachelor degrees are most prevalent at 20.8%, followed by postgraduate qualifications (9.9%) and graduate diplomas (6.0%). Vocational credentials are also common, with 29.8% of residents aged 15+ holding such qualifications – advanced diplomas account for 11.7% and certificates for 18.1%.

Educational participation is 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

Castlemaine has 62 active public transport stops offering a mix of train and bus services. These stops are served by 24 individual routes, providing a total of 744 weekly passenger trips. Transport accessibility is moderate, with residents on average located 409 meters from the nearest stop.

On average, there are 106 trips per day across all routes, equating to approximately 12 weekly trips per stop.

Health performance in Castlemaine is well below average with prevalence of common health conditions notable across both younger and older age cohorts

Castlemaine faces significant health challenges, with common conditions prevalent across both younger and older age groups. Private health cover stands at approximately 49% (around 5,999 people), lower than Rest of Vic's 52.9% and the national average of 55.3%. The most frequent medical issues are arthritis (11.3%) and mental health problems (10.4%), while 60.8% report no ailments, compared to Rest of Vic's 63.4%.

Castlemaine has a higher proportion of seniors aged 65 and over at 28.7% (3,504 people), compared to Rest of Vic's 24.9%. Despite this, health outcomes among seniors are above average, outperforming the general population in health metrics.

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

Castlemaine's population, surveyed in June 2016, showed low cultural diversity: 86.0% were Australian citizens, 85.7% were born in Australia, and 95.7% spoke English only at home. Christianity was the predominant religion (28.7%). Judaism, though small, was overrepresented at 0.3%, compared to the regional average of 0.2%.

Top ancestral groups were English (32.5%), Australian (25.8%), and Irish (12.3%). Notable ethnic group divergences included Scottish (10.9% vs 10.1%), Welsh (0.8% vs 0.7%), and German (3.9% vs 3.6%).

Castlemaine ranks among the oldest 10% of areas nationwide

Castlemaine has a median age of 50, which is higher than Rest of Vic.'s figure of 43 and also above the national average of 38. The 65-74 age group comprises 14.9% of Castlemaine's population, compared to Rest of Vic.'s percentage, while the 15-24 cohort makes up 7.4%. This 65-74 concentration is higher than the national figure of 9.4%. According to the 2021 Census, the 35-44 age group has increased from 12.0% to 13.2%, while the 55-64 cohort has decreased from 14.4% to 13.5%. By 2041, Castlemaine's age profile is projected to change significantly. The 85+ age cohort is expected to grow by 110 people (23%), from 486 to 597. Notably, the combined 65+ age groups will account for 61% of total population growth, reflecting the area's aging demographic profile. Conversely, population declines are projected for the 25-34 and 5-14 cohorts.