Golden Square
Healthcare employment at 26.0% is the highest single-sector concentration in this batch, reflecting Bendigo's role as Victoria's second-largest regional health hub, with 730 workers in the sector, nearly three times the next industry. The $520,000 median sits 4.1% below the 2022 peak of $542,500, indicating a correction that has not fully recovered. The crime rate of 82.5 per 1,000 is the second-highest in this analysis, dominated by property offences (335), and SEIFA IRSAD decile 2 confirms socio-economic disadvantage. Yet the 14-year CAGR of 4.1% and 76.3% total price growth show that long-term returns have been solid despite the recent pullback.
Population
9,220
Median Age
39.0
Household IncomeiMedian weekly household income (ABS Census)
$1,344/wk
DAs (12 months)iDevelopment Applications lodged in the past year
43
Median House
$520K
Apr-Jun 2024
The $520,000 median (April-June 2024) offers genuine affordability by Victorian standards, though it sits 4.1% below the 2022 peak of $542,500. Over 14 years, the median grew from $295,000 to $520,000, a 76.3% gain at 4.1% CAGR. Detached houses at 91.7% dominate, with three-bedroom homes at 57.6% the most common type. Monthly mortgage repayments of $1,300 produce a mortgage-to-income ratio of 22.3%, comfortably below the stress threshold. With 31.5% owning outright and 32.9% mortgaged, tenure is balanced. Walking/cycling at 3.2% is limited, and car dependence at 88.8% is high.
For Buyers
The $520,000 median (April-June 2024) offers genuine affordability by Victorian standards, though it sits 4.1% below the 2022 peak of $542,500. Over 14 years, the median grew from $295,000 to $520,000, a 76.3% gain at 4.1% CAGR. Detached houses at 91.7% dominate, with three-bedroom homes at 57.6% the most common type. Monthly mortgage repayments of $1,300 produce a mortgage-to-income ratio of 22.3%, comfortably below the stress threshold. With 31.5% owning outright and 32.9% mortgaged, tenure is balanced. Walking/cycling at 3.2% is limited, and car dependence at 88.8% is high.
For Investors
Renters at 35.6% provide a reasonable tenant pool. Weekly rent of $295 against a $520,000 median produces a gross yield around 2.9%, modest for regional Victoria. The vacancy rate of 7.2% is elevated. The 43 development applications in 12 months include subdivision activity, suggesting some infill development. Population growth of 0.9% per year (192 persons) is above the national average for established suburbs, driven by overseas migration (106 net/year) and partially offset by internal outflow of 48 per year. Rents grew 41.5% over the decade, above the national average, but yields remain compressed by the price appreciation.
Development Activity
Total DAs
56
Last 12 Months
43
YoY ChangeiYear-over-year change in DA lodgements
+1333.3%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Golden Square iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Golden Square Primary School
Prep-6 · 262 students
Specimen Hill Primary School
Prep-6 · 234 students
Demographics
English ancestry leads at 3,955, with Irish (1,242) and Scottish (1,135) forming a strongly Anglo-Celtic community. Just 10.5% were born overseas, 11.1 points below the national average, the lowest in this batch. University qualifications at 26.5% are 3.6 points below national. Punjabi (32), Mandarin (27), and Malayalam (22) are the top non-English languages, reflecting recent arrival patterns in regional Victoria. Average household size of 2.3 is below the national 2.5. The median age of 39 is 1 year below national. The 9.0% needing assistance rate is above the national average, consistent with the IRSAD decile 2 rating.
Age Distribution
Bedrooms
Dwelling Structure
91.7%
Houses
4.3%
Townhouse
4.0%
Apartment
Tenure
Tenure splits across 31.5% outright, 32.9% mortgaged, and 35.6% renting, a relatively even distribution. Detached houses at 91.7% dominate, with apartments at 4.0% and semi-detached at 4.3% providing minimal alternatives. Three-bedroom homes at 57.6% are the overwhelming majority. The 14-year price trajectory shows growth from $295,000 to $520,000 (76.3% total), with a peak of $542,500 in 2022 followed by a 4.1% correction. Mortgage-to-income at 22.3% and rent-to-income at 21.9% are both well below stress thresholds, making Golden Square affordable relative to income at the 34.5th percentile.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,300
Rent / wk
$295
HH Size
2.3
Personal Income / wk
$721
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
7.2%
Unoccupied
292
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
21.9%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
22.3%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
29.6%
Couples, no children
6,706
Total families
Economy & Employment
Healthcare dominates at 26.0% (730 workers), nearly triple the next sector, Education at 11.6% (327). Construction at 9.6% (271), Manufacturing at 7.1% (199), and Public Admin at 7.1% (199) follow. The extreme Healthcare concentration reflects Bendigo Health and regional medical services. Professionals (916) lead occupations, but Community/Personal (591) and Labourers (530) are close behind, reflecting the blue-collar mix. Unemployment at 4.3% is near national, and participation at 54.9% is moderate. SEIFA IRSAD decile 2 and IEO decile 3 confirm disadvantage, while IER decile 3 shows limited economic resources.
Unemployment
5.2%
Labour Force
10,073
Unemployed
527
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
60.4%
Part-time
35.3%
Participation
54.9%
Employed
4,001
Occupations
Top Industries
University
26.5%
Postgraduate
5.4%
Born Overseas
10.5%
Dwellings
3,739
Transport to Work
Car dependence is high at 88.8%, with public transport at 1.5% and walking/cycling at 3.2%. The crime rate of 82.5 per 1,000 is the second-highest in this analysis. Property and deception offences (335) lead, with crimes against the person (140), justice procedures (156), and drug offences (65). Two schools serve the suburb: Golden Square Primary School (Government, ICSEA 967, 262 students) and Specimen Hill Primary School (Government, ICSEA 934, 234 students), both below the national 1,000 benchmark, consistent with the IRSAD decile 2. Secondary options require travel to central Bendigo. Rent-to-income at 21.9% is below stress.
Drive
88.8%
Public Transport
1.5%
Walk / Cycle
3.2%
Work from Home
N/A
Population Forecast
+0.9%/yr
(+192 people/yr)
EstablishedPopulation grows at 0.9% per year (192 persons), above the national average. The 10-year change of 13.8% is solid. Overseas migration of 106 net per year provides the primary inflow, with internal migration running at negative 48. The senior share grew 5.4 points (one of the highest in this batch) while the working-age share contracted 0.5 points, confirming an aging trajectory. Rents grew 41.5% over the decade, well above the national average. The medium forecast projects 22,786 by 2031, up from 21,369 in 2025. Real income grew 11.7% over the decade, moderate but positive.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+106
Net Internal / yr
-48
Gentrification Signal
Not gentrifying
Population +14% since 2011
Safety & Crime
Total Offences
761
Year ending June 2024
Rate per 1,000 People
82.5
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 Golden Square compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Golden Square a good suburb to live in?
Golden Square offers genuine regional affordability ($520,000 median, mortgage-to-income 22.3%) in Bendigo's urban fringe. However, the crime rate of 82.5 per 1,000 is the second-highest in this batch, IRSAD decile 2 indicates disadvantage, and both schools sit below the ICSEA 1,000 benchmark. It suits budget-conscious buyers comfortable with a blue-collar regional community.
What is the median house price in Golden Square?
The median is $520,000 (April-June 2024), up 76.3% from $295,000 over 14 years (4.1% CAGR). It sits 4.1% below the 2022 peak of $542,500. Monthly mortgage repayments are $1,300 with a mortgage-to-income ratio of 22.3%. Median weekly rent is $295.
What schools are in Golden Square?
Two government primary schools serve the suburb: Golden Square Primary School (ICSEA 967, 262 students) and Specimen Hill Primary School (ICSEA 934, 234 students). Both sit below the national 1,000 ICSEA benchmark, consistent with the suburb's IRSAD decile 2. Secondary school options require travel to central Bendigo.
Is Golden Square safe?
The crime rate of 82.5 per 1,000 population (761 total offences) is the second-highest in this analysis. Property and deception offences (335) dominate, followed by justice procedures (156), crimes against the person (140), and drug offences (65). IRSD decile 3 indicates moderate disadvantage. The 76.1% residential stability rate is moderate.
Is Golden Square good for property investment?
The 14-year CAGR of 4.1% is steady, but the 4.1% correction from the 2022 peak shows the growth phase may have plateaued. Gross yield is approximately 2.9% ($295/week on $520,000), modest for regional Victoria. The 7.2% vacancy rate is elevated. Population growth of 0.9% and 43 DAs in 12 months provide moderate demand and supply signals. Rents grew 41.5% over the decade, above the national average.
How is Golden Square's population changing?
Growth runs at 0.9% per year (192 persons). Overseas migration (106 net/year) drives inflow while 48 domestic residents depart annually. The senior share grew 5.4 points over the decade, one of the highest aging shifts in this batch. Medium projection reaches 22,786 by 2031. Real income grew 11.7% over the decade, moderate but positive.
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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