Castlemaine
The median age of 52 is 12 years above national, the oldest in this batch by a wide margin. Yet university qualifications at 40.2% are 10.1 points above the national average, creating a profile that is simultaneously older and more educated than typical regional towns. Outright ownership at 50.4% is the highest in this batch, confirming an asset-rich, income-poor population (household income percentile of 17.8, the lowest in this group). Rents grew 55.6% over the decade while prices doubled from $372,500 to $750,000, a CAGR of 5.1%. Castlemaine is a tree-change destination where cultural capital runs higher than financial capital.
Population
7,506
Median Age
52.0
Household IncomeiMedian weekly household income (ABS Census)
$1,106/wk
DAs (12 months)iDevelopment Applications lodged in the past year
23
Median House
$750K
Apr-Jun 2024
The $750,000 median (Apr-Jun 2024) sits just 1.3% below the $760,000 peak (Jan-Mar 2024), a minor correction. Over 14 years from $372,500, the CAGR of 5.1% matches the long-term national average. Mortgage repayments of $1,362/month produce a 28.4% mortgage-to-income ratio, near stress levels. Houses at 92.5% dominate with 48.4% being 3-bedroom and 28.8% two-bedroom. Five schools serve the suburb: Castlemaine North Primary (ICSEA 1,117, 278), Winters Flat Primary (1,078, 115), Castlemaine Primary (1,054, 178), Castlemaine Secondary College (1,040, 695) and St Mary's (Catholic, 1,033, 64). All above benchmark.
For Buyers
The $750,000 median (Apr-Jun 2024) sits just 1.3% below the $760,000 peak (Jan-Mar 2024), a minor correction. Over 14 years from $372,500, the CAGR of 5.1% matches the long-term national average. Mortgage repayments of $1,362/month produce a 28.4% mortgage-to-income ratio, near stress levels. Houses at 92.5% dominate with 48.4% being 3-bedroom and 28.8% two-bedroom. Five schools serve the suburb: Castlemaine North Primary (ICSEA 1,117, 278), Winters Flat Primary (1,078, 115), Castlemaine Primary (1,054, 178), Castlemaine Secondary College (1,040, 695) and St Mary's (Catholic, 1,033, 64). All above benchmark.
For Investors
Only 24.1% of residents rent, limiting the tenant pool. Weekly rent of $300 against $750,000 gives a gross yield of 2.1%, very low. The 9.8% vacancy rate is the second highest in this batch, a significant concern. Development activity at 24 DAs in 12 months is moderate. Net internal migration at +109/year is positive, rare for a regional town, meaning Castlemaine attracts domestic movers. Overseas migration is minimal at +26/year. The gentrification score of 34 (early signs) indicates the tree-change wave is still building. Population grew 12.8% over 10 years, above the regional average. Rents grew 55.6% over the decade.
Development Activity
Total DAs
56
Last 12 Months
23
YoY ChangeiYear-over-year change in DA lodgements
+76.9%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Castlemaine iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Castlemaine North Primary School
Prep-6 · 278 students
Winters Flat Primary School
Prep-6 · 115 students
Castlemaine Primary School
Prep-6 · 178 students
Castlemaine Secondary College
7-12 · 695 students
St Mary's School
Prep-6 · 64 students
Demographics
At 52, the median age is 12 years above national, the oldest in this batch. The senior share grew 8.6 points, the steepest aging trajectory. Overseas-born at 15.5% is 6.1 points below national: English (3,093), Irish (1,277) and Scottish (1,078) form a heavily Anglo-Celtic base. German (19) and French (12) are the only notable non-English languages. University qualifications at 40.2% are 10.1 points above national, high for a regional town. The 28.5% volunteering rate is the highest in this batch, consistent with a culturally engaged community. Average household size of 2.0 is 0.5 below national.
Age Distribution
Bedrooms
Dwelling Structure
92.5%
Houses
6.7%
Townhouse
0.3%
Apartment
Tenure
Outright owners at 50.4% dominate, the highest share in this batch, reflecting the older, asset-rich population. Mortgage holders at 25.4% and renters at 24.1% follow. Houses at 92.5% are near total, with no meaningful apartment stock (0.3%). Three-bedroom (48.4%) and 2-bedroom (28.8%) account for 77.2%. Prices grew from $372,500 to $750,000 (CAGR 5.1%) over 14 years, peaking at $760,000 before a 1.3% correction. Mortgage stress at 28.4% is near the threshold. Rent stress at 27.1% is elevated. The 80.9% residential stability is above the national average. The high outright ownership means most residents have no mortgage exposure to rate rises.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,362
Rent / wk
$300
HH Size
2.0
Personal Income / wk
$668
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
9.8%
Unoccupied
345
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
27.1%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
28.4%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
38.0%
Couples, no children
4,670
Total families
Economy & Employment
Healthcare leads at 21.1% (437 workers), Education at 15.7% (325), Public Admin at 10.4% (215), Professional/Tech at 10.2% (210) and Manufacturing at 7.4% (152). Professionals (938) strongly dominate occupations, 2.7 times the next group (Managers at 346). The full-time employment rate of 48.8% is the lowest in this batch, reflecting high part-time and self-employment in creative and service roles. Unemployment at 4.1% is low. Participation at 41.6% is very low, driven by the older demographic. The 3,081 not in the labour force represent 41% of the population. IRSAD decile 5 places the suburb at the national midpoint.
Unemployment
3.5%
Labour Force
5,084
Unemployed
179
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
48.8%
Part-time
47.1%
Participation
41.6%
Employed
2,615
Occupations
Top Industries
University
40.2%
Postgraduate
13.3%
Born Overseas
15.5%
Dwellings
3,165
Transport to Work
Walking/cycling at 14.4% is the highest in this batch, reflecting the compact township form. Car driving at 77.2% is below average. Public transport at 2.6% is low, though V/Line rail provides Melbourne access. Five schools all above the 1,000 ICSEA benchmark: Castlemaine North Primary (1,117, 278), Winters Flat Primary (1,078, 115), Castlemaine Primary (1,054, 178), Castlemaine Secondary College (1,040, 695) and St Mary's (1,033, 64). The crime rate of 89.0 per 1,000 is elevated, the highest in this batch, with property offences (417) accounting for 62.4%. IRSAD decile 5 is at the midpoint.
Drive
77.2%
Public Transport
2.6%
Walk / Cycle
14.4%
Work from Home
N/A
Population Forecast
+0.97%/yr
(+94 people/yr)
EstablishedPopulation growth at 0.97% per year (94 persons) is moderate for regional Victoria. The ERP reached 9,675 in 2025, with medium forecasts projecting 10,124 by 2031. Unusually, internal migration at +109/year is positive (most regional towns lose residents domestically), making Castlemaine a genuine tree-change attractor. Overseas migration is minimal at +26/year. The 12.8% 10-year population change is above the regional average. The aging trajectory is the most extreme in this batch: senior share grew 8.6 points, working share fell 4.5 points. Affordability remained stable (42.0% in 2021 vs 40.2% in 2011). Real income grew 20.9%.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Internal Migration
Net Overseas / yr
+26
Net Internal / yr
+109
Gentrification Signal
Early signs
Population +17% since 2011, Net internal migration +109/yr, Accelerating: 4% → 12%
Safety & Crime
Total Offences
668
Year ending June 2024
Rate per 1,000 People
89.0
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 Castlemaine compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Castlemaine a good suburb to live in?
Castlemaine suits tree-changers valuing walkability (14.4% walk/cycle, highest in this batch) and cultural engagement (28.5% volunteering rate). Five schools all score above the ICSEA 1,000 benchmark. However, the crime rate of 89.0 per 1,000 is the highest in this batch, and IRSAD decile 5 is at the national midpoint.
What is the median house price in Castlemaine?
The median is $750,000 (Apr-Jun 2024), down 1.3% from the $760,000 peak. Over 14 years from $372,500, the CAGR is 5.1%. Monthly mortgage repayments average $1,362 and weekly rent is $300. Rents grew 55.6% over the decade. Mortgage stress at 28.4% is near the 30% threshold.
What schools are in Castlemaine?
Five schools serve the suburb: Castlemaine North Primary (Government, ICSEA 1,117, 278 students), Winters Flat Primary (Government, 1,078, 115), Castlemaine Primary (Government, 1,054, 178), Castlemaine Secondary College (Government, 1,040, 695) and St Mary's School (Catholic, 1,033, 64). All 5 score above the national 1,000 benchmark.
Is Castlemaine safe?
The crime rate of 89.0 per 1,000 residents is the highest in this batch, with 668 total offences. Property and deception offences (417) account for 62.4%, justice procedures (106) at 15.9% and crimes against the person (78) at 11.7%. Drug offences (35) are also notable. IRSAD decile 5 suggests mixed socioeconomic factors.
Is Castlemaine good for property investment?
Gross yield is 2.1% ($300/week on $750,000), very low. Only 24.1% rent and vacancy at 9.8% is the 2nd highest in this batch. However, rents grew 55.6% over the decade, and net internal migration of +109/year (positive, unusual for regional towns) sustains demand. The 5.1% CAGR over 14 years matches the national long-term average.
How is Castlemaine's population changing?
Growth at 0.97% per year (94 persons) is moderate. Net internal migration of +109/year is positive, confirming genuine tree-change attraction. Medium projections are 10,124 by 2031. The aging trajectory is extreme: senior share grew 8.6 points, the most in this batch. The median age of 52 is 12 years above national.
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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