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 of February 2026, is approximately 12,394 people. This figure represents an increase of 1,042 individuals since the 2021 Census, which reported a population of 11,352 people. The change can be inferred from the estimated resident population of 11,538 in June 2024 and an additional 359 validated new addresses since the Census date. This results in a population density ratio of 147 persons per square kilometer, offering significant space per person and potential room for further development. Castlemaine's growth rate of 9.2% since the 2021 census exceeded both its SA3 area (6.8%) and SA4 region, positioning it as a growth leader in the region. Interstate migration contributed approximately 58.2% of overall population gains during recent periods, driving primary growth for the area.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, released in 2024 with 2022 as the base year. For areas not covered by this data, AreaSearch utilizes 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. According to these projections, the area's overall population is expected to decline by 569 persons by 2041. However, specific age cohorts are anticipated to grow, notably the 35 to 44 age group, projected to increase by 173 people.

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

Castlemaine has received approximately 91 dwelling approvals annually over the past five financial years, totalling 456 homes. As of FY-26 to date, 28 approvals have been recorded. On average, each new dwelling constructed between FY-21 and FY-25 accommodates around 0.9 new residents per year. This indicates that new supply is meeting or exceeding demand, providing ample buyer options and allowing for population growth beyond current projections.

The average construction cost of these properties is $300,000. In the current financial year, commercial approvals have reached $100.2 million, suggesting strong local business investment. Compared to the rest of Victoria, Castlemaine has slightly more development activity, with a 19.0% increase per person over the past five years.

This maintains good buyer choice and supports existing property values, although recent periods have seen some moderation in development activity. 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 an evolving area. Given stable or declining population forecasts, it may experience less housing pressure in the future, creating favourable conditions for buyers.

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

Changes to local infrastructure significantly influence an area's performance. AreaSearch identified 11 projects likely impacting the area. Notable ones are Levee Banks Project, Frederick Street Precinct Project, Haven Castlemaine, and Castlemaine Water Reclamation Plant Upgrade. Below is a list detailing those most relevant.

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

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

Castlemaine has an educated workforce with prominent essential services sectors. Its unemployment rate is 3.6%, lower than the Rest of Vic.'s 3.8%. Employment growth over the past year was estimated at 1.9%.

As of September 2025, 4,886 residents are employed, with a participation rate of 51.4% compared to Rest of Vic.'s 61.4%. Home workership is high at 29.7%. Key employment sectors include health care & social assistance, education & training, and manufacturing. The area specializes in education & training with an employment share 1.3 times the regional level, while agriculture, forestry & fishing has limited presence at 1.3% compared to 7.5% regionally.

Many residents commute elsewhere for work based on Census data. From September 2024 to September 2025, employment increased by 1.9%, labour force by 2.7%, leading to an unemployment rise of 0.7 percentage points. In contrast, Rest of Vic. saw employment decline by 0.7% and labour force decline by 0.6%. Jobs and Skills Australia's national employment forecasts from May-25 project overall growth of 6.6% over five years and 13.6% over ten years for Castlemaine, based on industry-specific projections applied to its employment mix.

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 financial year 2023. The median income among taxpayers in Castlemaine SA2 is $46,172 and the average income stands at $59,657. In comparison, Rest of Vic.'s median income is $50,954 and average income is $62,728. Based on Wage Price Index growth of 8.25% since financial year 2023, current estimates for Castlemaine SA2 would be approximately $49,981 (median) and $64,579 (average) as of September 2025. According to the 2021 Census figures, household incomes in Castlemaine fall between the 13th and 25th percentiles nationally. Family incomes also fall within this range. Personal incomes in Castlemaine rank at the 16th percentile nationally. The largest segment of income earners comprises 27.5% earning $1,500 - $2,999 weekly, with 3,408 residents falling into this category. This pattern is similar to the broader area where 30.3% occupy this income range. After housing expenses, 86.3% of income remains in Castlemaine SA2, which ranks at the 16th percentile nationally. The area's SEIFA income ranking places it in the fifth decile.

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

In Castlemaine, as assessed at the latest Census, 94.4% of dwellings were houses with the remaining 5.5% comprising semi-detached homes, apartments, and other types of dwellings. This compares to Non-Metro Vic., where 90.1% of dwellings were houses and 9.9% were other dwelling types. Home ownership in Castlemaine stood at 48.3%, with mortgaged dwellings accounting for 31.1% and rented dwellings making up 20.6%. The median monthly mortgage repayment was $1,408, lower than the Non-Metro Vic. average of $1,430. The median weekly rent in Castlemaine was recorded at $310, compared to $285 in Non-Metro Vic. Nationally, Castlemaine's mortgage repayments were significantly lower than the Australian average of $1,863, and 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 comprise the remaining 38.9%, with lone person households at 35.9% and group households making up 3.1%. The median household size is 2.1 people, 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

In Castlemaine, the proportion of residents aged 15 and above with university qualifications is 36.7%, which exceeds both the broader Victorian benchmark of 21.7% and the South Australian region four benchmark of 25.4%. This high educational attainment positions the area favourably for knowledge-based opportunities. Bachelor degrees are the most common, held by 20.8% of residents, followed by postgraduate qualifications (9.9%) and graduate diplomas (6.0%). Vocational credentials are also prevalent, with 29.8% of residents aged 15 and above holding such qualifications – advanced diplomas at 11.7% and certificates at 18.1%. Educational participation is notably high in Castlemaine, 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 63 active public transport stops operating within its boundaries. These stops are served by 15 different routes, offering a total of 531 weekly passenger trips. The accessibility of these services is rated as moderate, with residents typically living 409 meters away from the nearest stop. Most journeys in Castlemaine involve commuting outward, with cars being the primary mode of transport at 84%. Walking and cycling account for 7% and 3% respectively. On average, there are 1.2 vehicles per dwelling, which is below the regional average.

According to the 2021 Census, a high proportion of residents work from home, with this figure standing at 29.7%. This could potentially be linked to COVID-19 conditions. The service frequency across all routes averages 75 trips per day, leading 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

Castlemaine's health data shows positive outcomes, aligning with national benchmarks for mortality rates and health conditions. Common health issues are seen across all age groups, with arthritis and mental health concerns being most prevalent at 11.3% and 10.4%, respectively.

Approximately 69.2% of residents report no medical ailments, compared to the Rest of Vic's 63.4%. Private health cover is low, at around 49%, compared to the national average of 55.7%. Working-age residents have a higher prevalence of chronic health conditions than average. The area has a larger proportion of seniors aged 65 and over, at 28.3% (3,502 people), compared to Rest of Vic's 23.9%. Health outcomes among seniors are above average nationally.

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 showed lower cultural diversity, with 86.0% being citizens, 85.7% born in Australia, and 95.7% speaking English only at home. Christianity was the predominant religion, comprising 28.7%. Judaism, however, was overrepresented at 0.3%, compared to 0.1% regionally.

The top three ancestry groups were English (32.5%), Australian (25.8%), and Irish (12.3%). Notably, Scottish ancestry was higher than regional averages at 10.9%, Welsh at 0.8%, and German at 3.9%.

Castlemaine ranks among the oldest 10% of areas nationwide

Castlemaine's median age is 49, surpassing Rest of Vic.'s figure of 43 and Australia's average of 38. Compared to Rest of Vic., Castlemaine has an over-representation of the 45-54 cohort (13.4%) and under-representation of the 15-24 age group (7.2%). Between 2021 and present, the 35-44 age group increased from 12.0% to 13.8%, while the 65-74 cohort decreased from 15.7% to 14.5% and the 55-64 group dropped from 14.4% to 13.3%. By 2041, demographic projections show significant shifts in Castlemaine's age structure. The 85+ cohort is projected to grow by 104 people (21%), from 492 to 597. Senior residents aged 65 and above will drive 90% of population growth, indicating demographic aging trends. Conversely, population declines are projected for the 0-4 and 25-34 age cohorts.