Macedon

Population growth drivers in Macedon are slightly above average based on AreaSearch's ranking of recent, and medium term trends

Macedon's population was 3,647 as of November 2025, an increase of 124 people since the 2021 Census. The population in 2021 was 3,523. This change is inferred from ABS estimates: 3,645 in June 2024 and nine new addresses post-Census. Population density was 50 persons per square kilometer. Natural growth contributed approximately 57.1% of population gains recently.

AreaSearch uses ABS/Geoscience Australia projections for SA2 areas (released in 2024, base year 2022). For uncovered areas, it uses VIC State Government's Regional/LGA projections from 2023 with adjustments via weighted aggregation to SA2 levels. Growth rates by age group are applied across all areas until 2041. Future population growth is projected above median statistical area levels nationwide. By 2041, Macedon's population is expected to expand by 744 persons, reflecting a total gain of 20.4% over the 17 years based on latest annual ERP population numbers.

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

Macedon has granted approximately five residential properties approval annually. Over the past five financial years, from FY21 to FY25, 25 homes were approved, with two more approved so far in FY26. On average, 4.2 people moved to the area each year for every dwelling built during these years.

This high demand significantly exceeds new supply, leading to price growth and increased buyer competition. New properties are constructed at an average expected cost of $721,000, indicating a focus on the premium segment with upmarket properties. In FY26, $425,000 in commercial development approvals have been recorded, reflecting the area's residential nature. Compared to Greater Melbourne, Macedon has significantly less development activity, at 84.0% below the regional average per person.

This scarcity of new homes typically strengthens demand and prices for existing properties. Recent development has been entirely comprised of detached houses, preserving the area's low density nature and attracting space-seeking buyers. Future projections estimate Macedon adding 742 residents by 2041. At current development rates, housing supply may struggle to match population growth, potentially heightening buyer competition and supporting price increases.

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

Changes to local infrastructure significantly affect an area's performance. AreaSearch identified eight projects likely impacting the region. Major initiatives include the Hanging Rock to Daylesford Shared Trail, Macedon Ranges Sports Precinct, Hamilton Road Reconstruction from New Gisborne to Riddells Creek, and Gisborne Business Park Development. Relevant projects are listed below.

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

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AreaSearch analysis of employment trends sees Macedon performing better than 90% of local markets assessed across Australia

Macedon has a highly educated workforce with strong professional services representation, an unemployment rate of 1.4% as of September 2025, and estimated employment growth of 1.4% over the past year. It has 2,049 residents in work, with an unemployment rate of 3.3%, below Greater Melbourne's rate of 4.7%.

Workforce participation is similar to Greater Melbourne's 64.1%. Leading industries are professional & technical, education & training, and health care & social assistance, with education & training being particularly specialized at 1.3 times the regional level. However, accommodation & food services are under-represented at 3.5% compared to Greater Melbourne's 6.4%. Employment opportunities locally may be limited as indicated by Census data.

Between September 2024 and September 2025, employment levels increased by 1.4%, labour force by 1.8%, raising the unemployment rate by 0.3 percentage points. In comparison, Greater Melbourne had employment growth of 3.0% and unemployment rose by 0.3 percentage points. State-wide in Victoria as of 25-Nov-25, employment grew by 1.13% year-on-year, with an unemployment rate of 4.7%. Nationally, the unemployment rate is 4.3%, with employment growth outpacing the national average of 0.14%. National employment forecasts from May-25 project a 6.6% increase over five years and 13.7% over ten years. Applying these projections to Macedon's employment mix suggests local employment should increase by 6.7% over five years and 13.6% over ten years, though this is a simple extrapolation for illustrative purposes only.

The economic profile demonstrates exceptional strength, placing the area among the top 10% nationally based on comprehensive AreaSearch income analysis

AreaSearch's latest postcode level ATO data for financial year 2022 shows that Macedon SA2 has exceptionally high national income levels. The median assessed income is $66,000 and the average income stands at $104,849. This contrasts with Greater Melbourne's figures of a median income of $54,892 and an average income of $73,761. Based on Wage Price Index growth of 12.16% since financial year 2022, current estimates for Macedon would be approximately $74,026 (median) and $117,599 (average) as of September 2025. From the 2021 Census, household, family, and personal incomes in Macedon rank highly nationally, between the 77th and 89th percentiles. Income analysis reveals that the $4000+ earnings band captures 27.7% of the community (1,010 individuals), differing from regional patterns where $1,500 - 2,999 dominates with 32.8%. The substantial proportion of high earners (41.8% above $3,000/week) indicates strong economic capacity throughout Macedon. After housing costs, residents retain 87.8% of income, reflecting strong purchasing power and the area's SEIFA income ranking places it in the 9th decile.

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

Macedon's dwelling structure, as per the latest Census, consisted of 98.0% houses and 2.0% other dwellings (semi-detached, apartments, 'other' dwellings), compared to Melbourne metro's 94.7% houses and 5.3% other dwellings. Home ownership in Macedon stood at 44.8%, with mortgaged dwellings at 46.7% and rented ones at 8.5%. The median monthly mortgage repayment was $2,492, higher than Melbourne metro's average of $2,014. Median weekly rent in Macedon was $361, compared to Melbourne metro's $400. Nationally, Macedon's mortgage repayments exceeded the Australian average of $1,863, while rents were lower at $375.

Macedon features high concentrations of family households, with a lower-than-average median household size

Family households constitute 80.8% of all households, including 39.0% couples with children, 34.7% couples without children, and 6.9% single parent families. Non-family households account for the remaining 19.2%, with lone person households at 17.4% and group households comprising 1.6%. The median household size is 2.7 people, which is smaller than the Greater Melbourne average of 2.8.

Macedon demonstrates exceptional educational outcomes, ranking among the top 5% of areas nationally based on AreaSearch's comprehensive analysis of qualification and performance metrics

Macedon's residents aged 15+ have a higher proportion with university qualifications (42.3%) compared to broader areas like SA3 (27.7%) and SA4 (27.7%). Bachelor degrees are most common at 25.4%, followed by postgraduate qualifications (11.3%) and graduate diplomas (5.6%). Vocational credentials are held by 30.3% of residents, with advanced diplomas at 12.4% and certificates at 17.9%. Educational participation is high, with 30.6% currently enrolled in formal education.

This includes 11.4% in primary, 10.2% in secondary, and 4.1% in tertiary education.

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

Macedon has two active public transport stops offering a mix of train and bus services. These stops are served by seven different routes that together facilitate 391 weekly passenger trips. Transport accessibility is limited, with residents typically residing 1839 meters from the nearest stop.

On average, there are 55 daily trips across all routes, amounting to around 195 weekly trips per individual stop.

The level of general health in Macedon is notably higher than the national average with both young and old age cohorts seeing low prevalence of common health conditions

Macedon shows above-average health outcomes with both younger and older age groups having low prevalence of common health conditions. Approximately 74% of its total population (2,687 people) has private health cover, compared to Greater Melbourne's 58.9%, and the national average of 55.3%. The most prevalent medical conditions are arthritis and asthma, affecting 7.8% and 7.2% of residents respectively.

71.9% of residents report no medical ailments, compared to 69.3% in Greater Melbourne. Macedon has 21.4% (781 people) of its population aged 65 and over, higher than Greater Melbourne's 18.7%. Health outcomes among seniors are particularly strong, outperforming the general population in health metrics.

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

Macedon had a cultural diversity below average, with 84.1% born in Australia, 90.1% citizens, and 95.8% speaking English only at home. Christianity was the main religion, at 38.3%. Buddhism, at 0.8%, was overrepresented compared to Greater Melbourne's 0.6%.

Top ancestry groups were English (29.2%), Australian (27.9%), and Irish (11.4%). Dutch (2.1%) and Polish (1.1%) were notably overrepresented, while Welsh (0.8%) showed a smaller divergence from regional figures.

Macedon hosts an older demographic, ranking in the top quartile nationwide

The median age in Macedon is 46 years, which is higher than Greater Melbourne's average of 37 years and also exceeds the Australian median of 38 years. Compared to Greater Melbourne, the 45-54 age cohort is significantly overrepresented in Macedon at 16.6%, while the 25-34 age group is underrepresented at 3%. Between the 2021 Census and the present, the 75-84 age group has grown from 5.8% to 8.5% of the population, and the 15-24 cohort has increased from 9.5% to 11.3%. Conversely, the 65-74 age group has declined from 14.2% to 11.4%, and the 25-34 age group has dropped from 5.6% to 3%. Population forecasts for Macedon in 2041 indicate significant demographic changes. The 45-54 age cohort is projected to expand by 230 people, from 605 to 836, representing a 38% increase. Meanwhile, the 0-4 and 35-44 age cohorts are expected to experience population declines.