Creswick
With a median age of 50, Creswick sits 10 years above the national figure, making it one of the older regional communities in VIC. Household income falls in the 21.4th percentile nationally, yet the median house price of $517,500 has more than doubled since 2013, recording a 111.2% gain over 14 years. The suburb is almost entirely detached housing (90.4%) spread across 49.9 square kilometres at a low density of 65.7 persons per km2. Population growth is slow at 0.36% annually, and SEIFA scores place Creswick in decile 4 across three of four indexes, below the national average on both education and relative disadvantage.
Population
3,279
Median Age
50.0
Household IncomeiMedian weekly household income (ABS Census)
$1,144/wk
DAs (12 months)iDevelopment Applications lodged in the past year
3
Median House
$518K
Apr-Jun 2024
The median house price reached $517,500 in the April to June 2024 quarter, up from $245,000 in 2013, a 111.2% rise over 14 years at a compound annual rate of 5.5%. That puts prices well below the Melbourne metro median, making Creswick genuinely affordable for buyers priced out of the city. Separate houses dominate at 90.4% of stock and three-bedroom dwellings make up 55.1%, with four-plus bedroom homes at 24.7%. Monthly mortgage repayments average $1,300, and mortgage-to-income sits at 26.2%, below the 30% stress threshold. Outright owners account for 44.9% of households, a high proportion compared to state averages, indicating a stable, long-settled owner base rather than active churn.
For Buyers
The median house price reached $517,500 in the April to June 2024 quarter, up from $245,000 in 2013, a 111.2% rise over 14 years at a compound annual rate of 5.5%. That puts prices well below the Melbourne metro median, making Creswick genuinely affordable for buyers priced out of the city. Separate houses dominate at 90.4% of stock and three-bedroom dwellings make up 55.1%, with four-plus bedroom homes at 24.7%. Monthly mortgage repayments average $1,300, and mortgage-to-income sits at 26.2%, below the 30% stress threshold. Outright owners account for 44.9% of households, a high proportion compared to state averages, indicating a stable, long-settled owner base rather than active churn.
For Investors
Rental yield potential is modest. Weekly rent of $275 against a $517,500 median implies a gross yield around 2.8%, below typical regional benchmarks, partly because prices have risen faster than rents over the decade. The vacancy rate of 8.6% is elevated and warrants caution, as it suggests the rental pool is thin. Renters make up only 19.0% of households, lower than the national average, so demand for rental stock is structurally limited. Net overseas migration adds 16 residents annually and internal migration is balanced at a net 4 per year, providing minimal growth stimulus. Development activity is low at 2 subdivision applications in 12 months, with no new residential dwellings recorded, so supply pressure is not a concern but neither is demand acceleration.
Development Activity
Total DAs
12
Last 12 Months
3
YoY ChangeiYear-over-year change in DA lodgements
+200.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Creswick iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
St Augustine's School
Prep-6 · 137 students
Creswick Primary School
Prep-6 · 148 students
Creswick North Primary School
Prep-6 · 58 students
Demographics
The median age of 50 is 10 years above the national figure, and the aging trajectory is clear: the senior share rose 7.2 points over the decade while the working-age share fell 2.9 points. Only 11.0% of residents were born overseas, which is 10.6 percentage points below the national rate, reflecting a predominantly locally born population. Ancestry is heavily Anglo-Celtic, led by English (1,385), Irish (490) and Scottish (428). University qualifications reach 21.6%, which is 8.5 points below the national figure, consistent with the regional, blue-collar character of the area. Average household size of 2.2 is 0.3 below national, and couples without children account for 35.5% of families, a pattern driven by the older demographic profile.
Age Distribution
Bedrooms
Dwelling Structure
90.4%
Houses
0.8%
Townhouse
6.7%
Apartment
Tenure
Creswick's housing market is defined by long tenure and affordability relative to state norms. Prices rose from $245,000 in 2013 to a peak of $545,000 in 2022 before easing 5.0% to $517,500 by mid-2024. The 14-year CAGR of 5.5% is solid for a regional town of 3,279 people. Outright ownership at 44.9% is notably high compared to the national figure, reflecting the older demographic who have paid down mortgages over decades. Three-bedroom dwellings make up 55.1% of stock and four-plus bedroom homes account for 24.7%, skewing toward family-sized homes. Rent-to-income at 24.0% stays below the 30% stress threshold, and mortgage-to-income at 26.2% is also comfortable. Separate houses are 90.4% of all dwellings, a higher proportion than the state average.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,300
Rent / wk
$275
HH Size
2.2
Personal Income / wk
$607
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
8.6%
Unoccupied
124
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
24.0%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
26.2%
Community Profile
Ancestry
Household Composition
35.5%
Couples, no children
2,296
Total families
Economy & Employment
Healthcare is the dominant employer at 22.0% of workers (183 people), followed by Construction at 11.8% (98) and Education at 10.5% (87). This service-heavy mix is common in aging regional communities where healthcare demand grows with the resident base. By occupation, Professionals lead at 207 workers, followed by Labourers (174) and Managers (148). The unemployment rate is 5.4%, above the national average, and the participation rate of 44.3% is low because 1,163 residents are not in the labour force, largely reflecting the older age profile. Real income grew 14.5% over the decade, slightly below national trends. SEIFA places Creswick in decile 4 on IRSD and IRSAD, below average nationally, indicating moderate relative disadvantage compared to most suburban areas.
Unemployment
3.3%
Labour Force
3,917
Unemployed
129
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
56.3%
Part-time
38.3%
Participation
44.3%
Employed
1,162
Occupations
Top Industries
University
21.6%
Postgraduate
6.1%
Born Overseas
11.0%
Dwellings
1,319
Transport to Work
Car dependency is high: 89.2% of workers drive, while only 1.3% use public transport, reflecting the limited regional transit compared to metropolitan areas. Walking and cycling account for 4.2% of commutes. No schools are recorded in the dataset for Creswick itself, so families rely on schools in neighbouring areas including Creswick North and Ballarat. The crime rate sits at 63.1 incidents per 1,000 residents, with property and deception offences the largest category at 144 of 207 total incidents. That rate is moderate in regional VIC context but warrants comparison with lower-crime suburban alternatives. SEIFA IRSAD decile 4 places the suburb below national average on advantage. The volunteering rate is 19.7%, above typical suburban levels, and only 9.0% of residents need daily assistance despite the older median age of 50.
Drive
89.2%
Public Transport
1.3%
Walk / Cycle
4.2%
Work from Home
N/A
Population Forecast
+0.36%/yr
(+29 people/yr)
EstablishedPopulation is growing at 0.36% annually, adding roughly 29 persons per year to a base of 3,279. The broader SA2 area recorded 8.9% growth over 10 years, slower than the national pace. The medium forecast holds the SA2 population growing from 8,038 in 2025 to 8,239 by 2031. Migration is balanced: net overseas arrivals average 16 per year and internal migration adds 4 per year. The gentrification score of 44 indicates early signs of change at the suburb level, even though the broader SA2 reads as not gentrifying. Rent growth of 47.1% over the decade outpaced income growth of 14.5%, which partly explains affordability tightening from 38.1% in 2011 to 39.8% in 2021. The aging trajectory means the working-age share will continue to narrow, putting pressure on local services.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Balanced
Net Overseas / yr
+16
Net Internal / yr
+4
Gentrification Signal
Not gentrifying
Safety & Crime
Total Offences
207
Year ending June 2024
Rate per 1,000 People
63.1
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 Creswick compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Creswick a good suburb to live in?
Creswick suits buyers seeking affordable regional living at a lower price point than metropolitan VIC. The median house price of $517,500 is well below Melbourne medians. However, SEIFA decile 4 on IRSD and IRSAD places it below the national average on advantage, public transport access is limited at 1.3%, and the median age of 50 is 10 years above the national figure.
What is the median house price in Creswick?
The median house price was $517,500 in the April to June 2024 quarter. Prices have risen 111.2% since 2013 at a 5.5% CAGR. The peak was $545,000 in 2022, so current prices sit 5.0% below that peak. Monthly mortgage repayments average $1,300.
What schools are in Creswick?
No schools are recorded within the Creswick boundary in this dataset. Families typically access schools in nearby Creswick North or the broader Ballarat area, which is the nearest regional centre. The local population has a university qualification rate of 21.6%, which is 8.5 points below the national figure.
Is Creswick safe?
The recorded crime rate is 63.1 incidents per 1,000 residents, with 207 total incidents. Property and deception offences make up the largest share at 144 incidents, followed by crimes against the person at 35. This is a moderate rate by regional VIC standards, though lower than many higher-density urban areas.
Is Creswick good for property investment?
The 14-year price CAGR of 5.5% and 111.2% total gain from 2013 show solid long-run capital growth. However, weekly rent of $275 gives a gross yield around 2.8% against the $517,500 median, and the 8.6% vacancy rate is elevated, indicating limited rental demand. Slow population growth of 0.36% per year limits the investment case for yield-focused buyers.
How is Creswick's population changing?
The population of 3,279 is growing at 0.36% annually, adding about 29 people per year. The broader SA2 area grew 8.9% over 10 years, slower than the national pace. The medium forecast projects the SA2 reaching 8,239 by 2031. The resident base is aging, with the senior share up 7.2 points over the decade and the working-age share down 2.9 points.
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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