Corio - Lovely Banks
Statistical Area - sa2

Corio - Lovely Banks has seen population growth performance typically on par with national averages when looking at short and medium term trends

Corio - Lovely Banks' population was around 18,593 as of Nov 2025. This reflected an increase of 268 people since the 2021 Census, which reported a population of 18,325. The change was inferred from ABS's estimated resident population of 18,518 in June 2024 and additional validated new addresses since the Census date. This resulted in a density ratio of 250 persons per square kilometer. Population growth was primarily driven by overseas migration contributing approximately 66.0% of overall gains during recent periods.

AreaSearch adopted ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022. For areas not covered, they utilized VIC State Government's Regional/LGA projections from 2023 with adjustments made employing weighted aggregation methods. Growth rates by age group were applied across all areas for years 2032 to 2041. Based on latest numbers, the area was forecasted to increase by 4,603 persons by 2041, recording a gain of 24.3% over the 17 years.

Residential development activity is lower than average in Corio - Lovely Banks according to AreaSearch's national comparison of local real estate markets

Corio - Lovely Banks has averaged approximately 73 new dwelling approvals annually over the past five financial years, totalling 367 homes. As of FY26, 10 approvals have been recorded. The population has declined in recent years, suggesting that new supply has likely kept pace with demand, providing good options for buyers. New properties are constructed at an average value of $219,000, which is below regional norms, indicating more affordable housing choices for purchasers.

In FY26, there have been $1.3 million in commercial approvals, reflecting the area's residential nature. Compared to the Rest of Vic., Corio - Lovely Banks has markedly lower building activity, with 63.0% below the regional average per person. This limited new supply generally supports stronger demand and values for established properties. New development consists of 84.0% detached houses and 16.0% attached dwellings, preserving the area's low density nature and attracting space-seeking buyers.

The estimated population per dwelling approval is 627 people, reflecting its quiet, low activity development environment. Future projections indicate that Corio - Lovely Banks will add approximately 4,526 residents by 2041. If current development rates continue, housing supply may not keep pace with population growth, potentially increasing competition among buyers and supporting stronger price growth.

Corio - Lovely Banks has emerging levels of nearby infrastructure activity, ranking in the 24thth percentile nationally

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified 34 potential impact projects in total. Notable ones include Cedar Woods Corio Residential Estate, Stead Park Hockey Facility Upgrade, Lovely Banks Development, and Corio Convenience Retail Hub. The following list details those most likely to be relevant.

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

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Employment conditions in Corio - Lovely Banks face significant challenges, ranking among the bottom 10% of areas assessed nationally

Corio - Lovely Banks has a balanced workforce consisting of white and blue collar jobs. The construction sector is prominent with an unemployment rate of 12.4% as of June 2025.

Employment growth in the past year was estimated at 1.5%. There are 7,807 residents employed, with an unemployment rate of 8.6%, which is higher than Rest of Vic.'s rate of 3.8%. Workforce participation is lower at 52.5% compared to Rest of Vic.'s 57.4%. Key industries include health care & social assistance, retail trade, and construction.

Manufacturing has a significant employment share, 1.5 times the regional level. However, agriculture, forestry & fishing has lower representation at 2.0%, compared to the regional average of 7.5%. Employment opportunities locally appear limited based on Census data. Between June 2024 and June 2025, employment levels increased by 1.5% while labour force rose by 2.3%, causing unemployment rate to rise by 0.7 percentage points. By comparison, Rest of Vic. saw employment decline of 0.9% with unemployment rising by 0.4 percentage points. Jobs and Skills Australia's national employment forecasts from May 2025 project national growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Corio - Lovely Banks' employment mix suggests local growth of approximately 5.8%% over five years and 12.4% over ten years, though this is a simplified extrapolation for illustrative purposes.

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

Corio - Lovely Banks' median taxpayer income was $46,030 and average income was $51,713 in financial year 2022, according to postcode level ATO data aggregated by AreaSearch. This is below the national average of $48,741 (median) and $60,693 (average) for Rest of Vic. Based on Wage Price Index growth of 12.16% since financial year 2022, estimated median income in Corio - Lovely Banks is approximately $51,627 as of September 2025, with average income estimated at $58,001 during the same period. According to 2021 Census figures, incomes in Corio - Lovely Banks fall between the 9th and 15th percentiles nationally for households, families, and individuals. Income distribution shows that 29.7% of locals (5,522 people) earn between $800 and $1,499, differing from the broader area where the predominant income category is $1,500 to $2,999 at 30.3%. Housing affordability pressures are severe in Corio - Lovely Banks, with only 83.7% of income remaining after housing costs, ranking at the 16th percentile nationally.

Corio - Lovely Banks is characterized by a predominantly suburban housing profile, with a higher proportion of rental properties than the broader region

In Corio - Lovely Banks, as per the latest Census evaluation, 91.5% of dwellings were houses, with the remaining 8.5% comprising semi-detached homes, apartments, and other dwelling types. This compares to Non-Metro Vic.'s figures of 84.6% houses and 15.4% other dwellings. The home ownership rate in Corio - Lovely Banks was 30.6%, with mortgaged properties at 32.0% and rented dwellings at 37.4%. The median monthly mortgage repayment was $1,300, lower than Non-Metro Vic.'s average of $1,712. The median weekly rent in the area was $280, compared to Non-Metro Vic.'s $335. Nationally, Corio - Lovely Banks' mortgage repayments were significantly lower at $1,300 versus Australia's average of $1,863, and rents were substantially below the national figure of $375.

Corio - Lovely Banks features high concentrations of group households, with a higher-than-average median household size

Family households constitute 69.2% of all households, including 26.9% couples with children, 21.5% couples without children, and 19.2% single parent families. Non-family households account for the remaining 30.8%, with lone person households at 26.9% and group households comprising 3.8%. The median household size is 2.6 people, larger than the Rest of Vic. average of 2.4.

Educational outcomes in Corio - Lovely Banks fall within the lower quartile nationally, indicating opportunities for improvement in qualification attainment

The area's university qualification rate is 11.1%, significantly lower than Victoria's average of 33.4%. Bachelor degrees are the most common at 7.7%, followed by postgraduate qualifications (2.4%) and graduate diplomas (1.0%). Vocational credentials are prominent, with 35.9% of residents aged 15+ holding them - advanced diplomas (8.8%) and certificates (27.1%). Educational participation is high at 32.1%, including secondary education (11.1%), primary education (10.0%), and tertiary education (3.4%).

There are nine schools in Corio - Lovely Banks, educating approximately 3,722 students. The area has typical Australian school conditions with balanced educational opportunities, as indicated by its ICSEA score of 996. Educational mix includes one primary, two secondary, and six K-12 schools. Note: for schools showing 'n/a' in enrolments, please refer to the parent campus.

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

Corio-Lovely Banks has 82 operational public transport stops, offering a blend of train and bus services. These stops are served by 10 unique routes, facilitating 2,985 weekly passenger journeys in total. Residents enjoy good transport accessibility, with an average distance of 253 meters to the nearest stop.

Daily service frequency across all routes stands at 426 trips, translating to about 36 weekly trips per individual stop.

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

Corio - Lovely Banks faces significant health challenges, as indicated by its health data. Both younger and older age groups have notable prevalence of common health conditions. The area has a low rate of private health cover, at approximately 46% (around 8,589 people), compared to Victoria's average of 52.7%.

Nationally, the average is 55.3%. Mental health issues and asthma are the most prevalent medical conditions in Corio - Lovely Banks, affecting 10.9% and 9.4% of residents respectively. About 64.3% of residents report having no medical ailments, compared to 65.9% in the rest of Victoria. The area has a lower proportion of seniors aged 65 and over, at 15.0% (2,781 people), than the rest of Victoria's 16.8%. Health outcomes among seniors in Corio - Lovely Banks generally align with those of the wider population.

Corio - Lovely Banks was found to be more culturally diverse than the vast majority of local markets in Australia, upon assessment of a range of language and cultural background related metrics

Corio-Lovely Banks has a higher cultural diversity compared to most local markets, with 27.2% of its population born overseas and 24.5% speaking a language other than English at home. Christianity is the predominant religion in Corio-Lovely Banks, accounting for 45.1% of the population. However, Islam is significantly overrepresented compared to the rest of Victoria, making up 5.9% of Corio-Lovely Banks' population versus 2.0%.

In terms of ancestry, Australians comprise 25.5%, English 24.8%, and Other groups 14.0% of Corio-Lovely Banks' population, which is notably higher than the regional average of 7.3%. Notably, Croatian (2.1%), Hungarian (0.7%), and Dutch (2.2%) ethnic groups are overrepresented in Corio-Lovely Banks compared to regional averages.

Corio - Lovely Banks's population is slightly younger than the national pattern

Corio-Lovely Banks has a median age of 35 years, which is significantly below the Rest of Vic average of 43 and somewhat younger than the Australian median of 38. The 25-34 cohort is notably over-represented at 17.5% locally, while the 65-74 year-olds are under-represented at 8.7%. According to the 2021 Census, the 25 to 34 age group has grown from 14.9% to 17.5%, the 45 to 54 cohort has declined from 12.6% to 11.0%, and the 5 to 14 group dropped from 12.7% to 11.4%. Demographic modeling suggests that Corio-Lovely Banks' age profile will evolve significantly by 2041, with the 25 to 34 cohort showing the strongest projected growth of 59%, adding 1,905 residents to reach 5,156. Conversely, the 55 to 64 group is projected to contract by 10 residents.