Colac Surrounds
Statistical Area - sa2

An assessment of population growth drivers in Colac Surrounds reveals an overall ranking slightly below national averages considering recent, and medium term trends

Colac Surrounds' population, as of Aug 2025, is approximately 5,905. This figure reflects an increase of 236 people since the 2021 Census, which reported a population of 5,669. The increase is inferred from ABS estimated resident population data for June 2024 (5,718) and validated new addresses since the Census date. This results in a density ratio of 3.1 persons per square kilometer. Colac Surrounds' growth rate of 4.2% since the 2021 census exceeded both its SA3 area (1.0%) and SA4 region, indicating it as a regional growth leader. Natural growth contributed approximately 76.1% to overall population gains during recent periods.

AreaSearch uses ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022. For areas not covered by this data, VIC State Government's Regional/LGA projections from 2023 are used with adjustments made via weighted aggregation. Growth rates by age group are applied across all areas for years 2032 to 2041. Future population dynamics suggest lower quartile growth in regional areas nationally. Colac Surrounds is expected to increase by 85 persons by 2041, with a total reduction of 2.0% over the 17-year period.

Residential development activity is lower than average in Colac Surrounds according to AreaSearch's national comparison of local real estate markets

Colac Surrounds has averaged approximately 22 new dwelling approvals annually. The Australian Bureau of Statistics produces development approval data on a financial year basis. Over the past five financial years, from FY-21 to FY-25112 dwellings were approved, with an additional six approved so far in FY-26. On average, over these years, 1.6 new residents have been associated with each dwelling constructed.

This suggests a balanced supply and demand dynamic, contributing to stable market conditions. The average construction value of new homes has been $527,000. In the current financial year, commercial development approvals totaling $4.1 million have been recorded, reflecting the area's predominantly residential character.

Compared to the Rest of Vic., Colac Surrounds has about three-quarters the rate of new dwelling approvals per person and ranks in the 52nd percentile nationally among assessed areas. Recent development has consisted entirely of detached dwellings, maintaining the area's traditional low-density character with a focus on family homes. The location has approximately 317 people per dwelling approval, indicating a low density market. With population projections showing stability or decline, housing demand pressures in Colac Surrounds are expected to remain relatively stable, benefiting potential buyers.

Colac Surrounds has limited levels of nearby infrastructure activity, ranking in the 0thth percentile nationally

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified nine projects likely impacting the area. Notable projects are Lake Colac School, Colac West Primary School Upgrade, Clearwater Colac, and Olive Court Estate. The following list details those most relevant.

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

Employment performance in Colac Surrounds ranks among the strongest 15% of areas evaluated nationally

Colac Surrounds has a skilled workforce with diverse sector representation and an unemployment rate of 1.0% as of June 2025. There are 3,126 residents in work, with an unemployment rate 2.7% below the Rest of Vic.'s rate of 3.8%.

Workforce participation is at 64.6%, compared to Rest of Vic.'s 57.4%. Employment is concentrated in agriculture, forestry & fishing (3.4 times the regional average), health care & social assistance (13.1% vs regional 16.8%), and manufacturing. Over the year to June 2025, labour force levels decreased by 1.8%, employment declined by 1.7%, keeping unemployment relatively stable at 1.0%. In contrast, Rest of Vic.'s employment declined by 0.9% with a labour force decline of 0.4% and a 0.4 percentage point rise in unemployment.

State-level data to Sep-25 shows VIC employment grew by 1.08%, adding 39,880 jobs, with the state unemployment rate at 4.7%. Jobs and Skills Australia's national employment forecasts from May 2025 project a 6.6% increase over five years and 13.7% over ten years. Applying these projections to Colac Surrounds' employment mix suggests local growth of approximately 5.2%% over five years and 11.7% over ten years.

Income figures position the area below 75% of locations analysed nationally by AreaSearch

Colac Surrounds' median income among taxpayers was $46,397 and average income stood at $55,956 in financial year 2022. These figures are lower than Rest of Vic.'s median of $48,741 and average of $60,693 respectively. Based on Wage Price Index growth of 10.11% since financial year 2022, estimated incomes as of March 2025 would be approximately $51,088 (median) and $61,613 (average). According to the 2021 Census, household, family, and personal incomes in Colac Surrounds ranked modestly between the 32nd and 35th percentiles. Income brackets indicated that 33.2% of the population, equating to 1,960 individuals, fell within the $1,500 - 2,999 income range, which was similar to the broader area where this cohort represented 30.3%. Housing costs were manageable with 89.2% retained, but disposable income was below average at the 38th percentile. The area's SEIFA income ranking placed it in the 5th decile.

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

The latest Census evaluated dwelling structures in Colac Surrounds as 99.6% houses and 0.3% other dwellings. Compared to Non-Metro Vic., this shows a higher proportion of houses (93.2%) and lower proportion of other dwellings (6.8%). Home ownership in Colac Surrounds was 48.7%, similar to Non-Metro Vic.'s level. Mortgaged dwellings were 38.4% and rented ones, 12.8%. The median monthly mortgage repayment in the area was $1,400, higher than Non-Metro Vic.'s average of $1,300 but lower than the national average of $1,863 recorded as of a recent date. The median weekly rent figure for Colac Surrounds was $250, matching Non-Metro Vic.'s figure but substantially lower than the national average of $375.

Colac Surrounds has a typical household mix, with a higher-than-average median household size

Family households comprise 72.2% of all households, including 30.1% couples with children, 34.2% couples without children, and 7.2% single parent families. Non-family households make up the remaining 27.8%, with lone person households at 25.8% and group households comprising 1.8%. The median household size is 2.5 people, larger than the Rest of Vic average of 2.3.

Colac Surrounds shows below-average educational performance compared to national benchmarks, though pockets of achievement exist

The area's university qualification rate is 18.8%, significantly lower than Victoria's average of 33.4%. This presents both a challenge and an opportunity for targeted educational initiatives. Bachelor degrees are the most common at 13.0%, followed by postgraduate qualifications (3.0%) and graduate diplomas (2.8%). Vocational credentials are prominent, with 41.8% of residents aged 15+ holding such qualifications – advanced diplomas (11.4%) and certificates (30.4%).

Educational participation is high, with 28.8% of residents currently enrolled in formal education. This includes primary education (11.1%), secondary education (8.3%), and tertiary education (2.9%). Colac Surrounds has five schools with a combined enrollment of 254 students. These schools demonstrate typical Australian school conditions, with balanced educational opportunities. The educational mix includes four primary schools and one K-12 school. Local school capacity is limited at 4.3 places per 100 residents compared to the regional average of 14.5, leading many families to travel for schooling. Note: where schools show 'n/a' for enrolments, please refer to the parent campus.

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

Colac Surrounds has 18 active public transport stops. These include both train and bus services. There are 8 different routes operating in total, offering 139 weekly passenger trips combined.

The accessibility of these transport services is limited; residents typically live 4251 meters away from the nearest stop. On average, there are 19 trips per day across all routes, which equates to about 7 weekly trips per individual stop.

Colac Surrounds'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 for Colac Surrounds residents shows a relatively positive picture with standard common health conditions seen across both younger and older age groups. Approximately 48% (~2,834 people) have private health cover, lower than the national average of 55.3%.

The most prevalent medical conditions are arthritis (affecting 8.9%) and asthma (7.8%). A total of 68.8% report no medical ailments, compared to 65.0% in Rest of Vic.. As of 2016, 20.7% (~1,222 people) are aged 65 and over, lower than the 24.6% in Rest of Vic.. Despite this, health outcomes among seniors are strong, even better than those of the general population.

The latest Census data sees Colac Surrounds placing among the least culturally diverse areas in the country when compared across a range of language and cultural background related metrics

Colac Surrounds had a below average cultural diversity level, with 90.4% of its population being Australian citizens, 92.3% born in Australia, and 98.0% speaking English only at home. Christianity was the predominant religion in Colac Surrounds, accounting for 50.5% of people, compared to 50.0% across Rest of Vic. In terms of ancestry, Australians comprised 33.3%, English 31.9%, and Irish 12.1%.

Notably, Scottish ancestry was higher at 10.6% in Colac Surrounds than regionally (10.0%), while Dutch was lower at 1.3% compared to the regional figure of 1.6%, and French was also lower at 0.4% versus 0.3%.

Colac Surrounds hosts an older demographic, ranking in the top quartile nationwide

Colac Surrounds' median age of 44 years is similar to Rest of Vic.'s 43 years and above the national average of 38 years. Compared to Rest of Vic., Colac Surrounds has a higher proportion of residents aged 55-64 (15.0%) but fewer residents aged 85+ (1.3%). Between the 2021 Census and the current time, the population aged 15-24 has grown from 10.2% to 11.6%, while the population aged 75-84 has increased from 5.3% to 6.6%. Conversely, the population aged 65-74 has declined from 14.3% to 12.8%, and the population aged 45-54 has decreased from 13.3% to 12.1%. By 2041, Colac Surrounds is expected to experience notable shifts in its age composition, with the 25-34 group growing by 27% (159 people) to reach 753 from 593. Meanwhile, the 85+ and 75-84 cohorts are projected to decrease in population.