Bannockburn
Almost nothing about Bannockburn reads as suburban: 95.8% of dwellings are separate houses, apartments sit at 0.1%, and the median age of 35 runs 5.0 years below the national figure. The town spreads across 82.73 km2 at just 78.2 residents per km2, a rural footprint filling fast with families, since 60.1% of homes carry four or more bedrooms and average household size of 3.0 is 0.5 above national. Population is forecast to climb 2.92% a year, and IER (economic resources) lands in decile 10 nationally even though university qualifications at 20.0% trail national by 10.1 points, a profile of asset-rich tradespeople and commuting families rather than a credentialed professional set.
Population
6,470
Median Age
35.0
Household IncomeiMedian weekly household income (ABS Census)
$2,055/wk
DAs (12 months)iDevelopment Applications lodged in the past year
14
Median House
$718K
Apr-Jun 2024
At a $718,500 median (Apr-Jun 2024), Bannockburn buys far more house than metropolitan Geelong or Melbourne, which is why 60.1% of dwellings have four or more bedrooms and a further 34.1% have three. Prices have eased 4.5% from the $752,500 peak in Oct-Dec 2023, giving buyers a softer entry, yet the long run is strong: the median has risen 94.2% from $370,000 in 2013, a 4.9% compound annual rate over 14 years. Separate houses make up 95.8% of stock, so a buyer is almost guaranteed a freestanding home on land. With monthly repayments averaging $1,863 against household income in the 77th percentile, the mortgage-to-income ratio is just 20.9%, well below the 30% stress threshold and far more comfortable than inner-city markets.
For Buyers
At a $718,500 median (Apr-Jun 2024), Bannockburn buys far more house than metropolitan Geelong or Melbourne, which is why 60.1% of dwellings have four or more bedrooms and a further 34.1% have three. Prices have eased 4.5% from the $752,500 peak in Oct-Dec 2023, giving buyers a softer entry, yet the long run is strong: the median has risen 94.2% from $370,000 in 2013, a 4.9% compound annual rate over 14 years. Separate houses make up 95.8% of stock, so a buyer is almost guaranteed a freestanding home on land. With monthly repayments averaging $1,863 against household income in the 77th percentile, the mortgage-to-income ratio is just 20.9%, well below the 30% stress threshold and far more comfortable than inner-city markets.
For Investors
Bannockburn is a thin rental market: only 11.3% of residents rent, against 58.6% on a mortgage, so tenant turnover is low and supply scarce. Weekly rent of $390 on a $718,500 median implies a gross yield near 2.8%, modest but ahead of premium metro suburbs, and the 3.7% vacancy rate sits in healthy territory rather than oversupplied. The real case is growth-driven: population is projected to rise 2.92% a year, adding about 245 residents annually, led by net internal migration of 96 people. Rent has grown 43.0% over the measured period, the fastest demand signal here. With 95.8% detached stock and almost no apartments, an investor competes for the same family homes owner-occupiers want, so capital growth, not yield, anchors the return.
Development Activity
Total DAs
34
Last 12 Months
14
YoY ChangeiYear-over-year change in DA lodgements
+27.3%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Bannockburn iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
St Mary MacKillop Catholic Primary School
Prep-6 · 392 students
Bannockburn P-12 College
Prep-12 · 799 students
Demographics
The median age of 35 is 5.0 years below the national figure, marking Bannockburn as a young-family town rather than a retirement one. Households average 3.0 people, 0.5 above national, and couples with children (3,095 families) outnumber couples without (1,185) by more than two to one. The community is markedly Anglo: 10.1% were born overseas, which is 11.5 points below national, and ancestry leads with English (2,672), Scottish (712) and Irish (711). University qualification at 20.0% sits 10.1 points under national, consistent with a workforce weighted toward trades and care roles. Despite the young median, the trajectory is aging because the senior share rose 4.0 points and the working-age share fell 3.3 points over the decade, a sign early residents are settling in for the long term.
Age Distribution
Bedrooms
Dwelling Structure
95.8%
Houses
4.0%
Townhouse
0.1%
Apartment
Tenure
Tenure here is mortgage-heavy: 58.6% of households carry a home loan, 30.1% own outright and only 11.3% rent, a balance that reflects recent family buyers rather than long-settled or transient renters. The stock is overwhelmingly detached at 95.8%, with apartments at 0.1% and semi-detached at 4.0%, and it skews large, with 60.1% of homes holding four-plus bedrooms versus 34.1% at three. The median house price of $718,500 has eased 4.5% from its $752,500 peak but is up 94.2% from $370,000 in 2013. Affordability is comfortable: rent-to-income runs 19.0% and mortgage-to-income 20.9%, both well below the 30% stress line, helped by household income in the 77th percentile nationally and abundant land at 78.2 residents per km2.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,863
Rent / wk
$390
HH Size
3.0
Personal Income / wk
$845
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
3.7%
Unoccupied
78
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
19.0%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
20.9%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
20.8%
Couples, no children
5,684
Total families
Economy & Employment
Bannockburn's workforce leans into hands-on and care sectors: Healthcare leads at 18.7% (398 workers), Construction follows at 14.5% (308) and Education at 12.8% (273), with Public Admin at 8.4% and Manufacturing at 7.7%. By occupation, Professionals (485) narrowly top Community/Personal workers (444) and Clerical/Admin (421), a flatter spread than credential-heavy metro suburbs. Unemployment is low at 3.2% and the participation rate is 63.1%. The SEIFA picture is split: IER (economic resources) reaches decile 10 nationally on the back of high home ownership and large dwellings, while IEO (education and occupation) sits at decile 5, a gap explained by the 20.0% university rate running 10.1 points below national. The result is genuine household wealth without elite credentials.
Unemployment
2.4%
Labour Force
4,573
Unemployed
108
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
62.1%
Part-time
34.7%
Participation
63.1%
Employed
2,965
Occupations
Top Industries
University
20.0%
Postgraduate
3.5%
Born Overseas
10.1%
Dwellings
2,050
Transport to Work
Bannockburn is built for cars, not transit: 93.6% of residents drive to work, only 0.5% use public transport and 1.8% walk or cycle, a reliance well above the national norm and a function of the 82.73 km2 rural layout. Crime is low, with 136 recorded offences and a rate of 21.0 per 1,000 residents, and most incidents are property and deception offences (82) rather than crimes against the person (32). The suburb scores decile 8 on the IRSD index of relative disadvantage, meaning few households face deprivation, and decile 10 on economic resources. No schools are recorded inside the town boundary in this dataset, so families travel to neighbouring centres, a practical trade-off for the space and the 3.0-person average household.
Drive
93.6%
Public Transport
0.5%
Walk / Cycle
1.8%
Work from Home
N/A
Population Forecast
+2.92%/yr
(+245 people/yr)
EstablishedBannockburn is one of the faster-growing towns in regional Victoria. Annual population growth runs 2.92%, adding about 245 residents a year, and the 10-year change of 64.5% dwarfs the flat trajectories of established metro suburbs. The medium forecast lifts population from 8,395 in 2025 to 10,079 by 2031, roughly 20% growth in six years. Net internal migration of 96 a year is the primary driver, far outweighing net overseas migration of 17, confirming this is Melbourne and Geelong families moving out for land rather than international arrivals. Gentrification signals are early at best, scoring 12 to 24 on the two indices, so prices are rising through volume and demand rather than displacement. Affordability has stayed stable, easing only from 43.3% in 2011 to 44.6% in 2021.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Internal Migration
Net Overseas / yr
+17
Net Internal / yr
+96
Gentrification Signal
Not gentrifying
Net internal migration +96/yr
Safety & Crime
Total Offences
136
Year ending June 2024
Rate per 1,000 People
21.0
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Bannockburn compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Bannockburn a good suburb to live in?
Bannockburn suits families wanting space: 95.8% of homes are detached and 60.1% have four or more bedrooms, with a young median age of 35, which is 5.0 years below national. Crime is low at 21.0 per 1,000 residents and the suburb scores decile 8 on relative disadvantage. The main trade-off is car dependence, as 93.6% drive to work.
What is the median house price in Bannockburn?
The median house price is $718,500 (Apr-Jun 2024), down 4.5% from the $752,500 peak in late 2023 but up 94.2% from $370,000 in 2013, a 4.9% compound annual rate. Weekly rent averages $390 and monthly mortgage repayments run about $1,863.
What schools are in Bannockburn?
No schools are recorded inside the Bannockburn town boundary in this dataset, so families typically travel to neighbouring centres. The town has a young, family-heavy profile, with average household size of 3.0 (0.5 above national) and a median age of 35, so school demand is strong.
Is Bannockburn safe?
Bannockburn records 136 offences a year at a rate of 21.0 per 1,000 residents, low by Victorian standards. Most incidents are property and deception offences (82), with crimes against the person far rarer at 32. The suburb also scores decile 8 on the IRSD disadvantage index, consistent with a low-risk area.
Is Bannockburn good for property investment?
Rent of $390 a week on a $718,500 median gives a gross yield near 2.8%, with a healthy 3.7% vacancy rate. Only 11.3% of residents rent, so supply is tight. The investment case rests on growth: population is forecast to rise 2.92% a year, driven by net internal migration of 96 people annually.
How is Bannockburn's population changing?
Bannockburn is growing fast, at 2.92% a year, adding about 245 residents annually and rising 64.5% over the past decade. The medium forecast lifts population from 8,395 in 2025 to 10,079 by 2031. Growth is led by net internal migration of 96 a year, far above net overseas migration of 17.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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