Lockwood South
With a household income sitting at the 79.9th percentile nationally, Lockwood South punches well above average for a low-density rural fringe suburb of only 1,052 residents spread across 50.74 square kilometres. Every dwelling here is a separate house, and 57.6% of them have four or more bedrooms, reflecting the large-lot, family-oriented character that defines the area. Just 4% of households rent, well below state and national norms, because most residents commit to ownership: 59.3% carry a mortgage and 36.8% own outright. The unemployment rate of 2.6% is low and mortgage stress is minimal with repayments consuming only 17.9% of income, making this a financially stable community by most measures.
Population
1,052
Median Age
41.0
Household IncomeiMedian weekly household income (ABS Census)
$2,112/wk
DAs (12 months)iDevelopment Applications lodged in the past year
9
No median house price is recorded for Lockwood South in current data, which reflects the thinly traded nature of a suburb with only 9 planning permit applications lodged in the past 12 months. The ownership profile is nonetheless telling: 59.3% of households carry a mortgage and 36.8% own outright, with only 4% renting, a ratio that indicates sustained owner-occupier demand rather than investor churn. Monthly mortgage repayments average $1,633, and at 17.9% of household income that sits comfortably below the 30% stress threshold. All dwellings are separate houses, with 57.6% having four or more bedrooms, so buyers get substantial space compared to metropolitan benchmarks. The large lots and rural setting attract buyers priced out of Bendigo proper while wanting to stay within the 3551 postcode corridor.
For Buyers
No median house price is recorded for Lockwood South in current data, which reflects the thinly traded nature of a suburb with only 9 planning permit applications lodged in the past 12 months. The ownership profile is nonetheless telling: 59.3% of households carry a mortgage and 36.8% own outright, with only 4% renting, a ratio that indicates sustained owner-occupier demand rather than investor churn. Monthly mortgage repayments average $1,633, and at 17.9% of household income that sits comfortably below the 30% stress threshold. All dwellings are separate houses, with 57.6% having four or more bedrooms, so buyers get substantial space compared to metropolitan benchmarks. The large lots and rural setting attract buyers priced out of Bendigo proper while wanting to stay within the 3551 postcode corridor.
For Investors
The investor case for Lockwood South is narrow. Only 4% of households rent, which is far below the state average, meaning tenant demand is structurally limited. Weekly rent of $320 is modest, and a 7.0% vacancy rate suggests supply already exceeds the thin rental pool. Development activity is minimal at 9 planning permits in the past 12 months, all for single dwellings, indicating no speculative pipeline. The suburb has no recorded schools, limiting its appeal to young family renters who need local services. On the positive side, household incomes at the 79.9th percentile nationally signal residents with capacity to pay, and mortgage stress is low at 17.9% of income, which supports stable tenancies for the small renter cohort. Investors seeking yield or growth indicators would find stronger signals in nearby Bendigo urban suburbs.
Development Activity
Total DAs
10
Last 12 Months
9
YoY ChangeiYear-over-year change in DA lodgements
—
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Lockwood South iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Lockwood South Primary School
Prep-6 · 38 students
Demographics
Lockwood South is predominantly Anglo-Celtic in ancestry: English heritage is the most common at 445 residents, followed by Irish (120) and Scottish (91), which is consistent with the low overseas-born share of 6.9%, some 14.7 percentage points below the national figure. The median age of 41 is 1 year above the national figure, reflecting a stable established-family population rather than an aging or youth skew. Average household size of 3.0 is 0.5 above the national average, which aligns with the dominance of couples-with-children households (394 families) compared to couples without children (283). University qualifications stand at 22.3%, which is 7.8 percentage points below the national rate, consistent with a trade and services workforce. Volunteering runs at 16.7%, a sign of active local engagement across a population of 1,052.
Age Distribution
Bedrooms
Dwelling Structure
100.0%
Houses
N/A
Townhouse
N/A
Apartment
Tenure
Every dwelling in Lockwood South is a separate house, with none recorded as apartments or semi-detached, which is a clear contrast to metropolitan VIC suburbs. The bedroom profile skews large: 57.6% of homes have four or more bedrooms and 36.9% have three, with only 5.5% at two bedrooms. Tenure favours ownership strongly: 59.3% carry a mortgage and 36.8% own outright, leaving just 4.0% as renters, far below national rental averages. Monthly mortgage repayments average $1,633, and at 17.9% of household income this is well below the 30% stress threshold. Rent averages $320 per week with a rent-to-income ratio of 15.2%, also stress-free. The 7.0% vacancy rate is elevated relative to the small renter pool, likely reflecting a handful of seasonal or transitional vacancies across a suburb with limited rental stock.
Mortgage / mo
$1,633
Rent / wk
$320
HH Size
3.0
Personal Income / wk
$816
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
7.0%
Unoccupied
25
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
15.2%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
17.9%
Community Profile
Ancestry
Household Composition
30.9%
Couples, no children
915
Total families
Economy & Employment
Healthcare is the largest employing industry at 23.3% of workers (81 people), a share that is high relative to suburbs of comparable size and likely reflects employment in Bendigo's health precinct. Construction follows at 13.3% (46 workers) and Education at 11.0% (38 workers), with Public Administration at 10.4% and Retail at 8.1% rounding out the top five. By occupation, Professionals lead at 95 workers, followed by Managers (76) and Labourers (69), a mix that reflects both the white-collar healthcare and education sectors and the trade activity from Construction. Unemployment is 2.6%, below national levels, and the full-time employment rate is 64.8%. Household income at the 79.9th percentile nationally confirms that despite its rural setting, Lockwood South residents earn considerably more than the average Australian household.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
64.8%
Part-time
32.6%
Participation
59.9%
Employed
488
Occupations
Top Industries
University
22.3%
Postgraduate
4.1%
Born Overseas
6.9%
Dwellings
332
Transport to Work
Car dependency is high at 92.5% of residents driving to work, consistent with a rural suburb 50.74 square kilometres in area with no public transport data recorded. Only 1.1% walk or cycle, reflecting the distances between dwellings. The crime rate of 24.7 incidents per 1,000 residents is low in absolute terms, with only 26 total offences recorded; the largest category is justice procedures offences (12), followed by property and deception (8) and crimes against the person (3). No schools are recorded within the suburb boundary, so families rely on institutions in neighbouring Lockwood or Bendigo. Rent and mortgage stress are both below national thresholds, with rent consuming 15.2% of income and mortgage repayments 17.9%, compared to the 30% stress threshold. The need-for-assistance rate of 4.4% (43 residents) is moderate and consistent with the median age of 41.
Drive
92.5%
Public Transport
N/A
Walk / Cycle
1.1%
Work from Home
N/A
Safety & Crime
Total Offences
26
Year ending June 2024
Rate per 1,000 People
24.7
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 Lockwood South compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Lockwood South a good suburb to live in?
Lockwood South suits families seeking large-lot rural living with financial stability. Household income sits at the 79.9th percentile nationally, unemployment is just 2.6%, and mortgage repayments consume only 17.9% of income, well below the 30% stress threshold. The trade-off is car dependency at 92.5% and no schools recorded within the suburb boundary.
What is the median house price in Lockwood South?
No median house price is recorded for Lockwood South in current data, reflecting the thinly traded market with only 9 planning permits lodged in the past 12 months. Monthly mortgage repayments average $1,633 and weekly rent is $320, giving a rent-to-income ratio of 15.2%.
What schools are in Lockwood South?
No schools are recorded within the Lockwood South boundary. Families rely on schools in nearby Lockwood and Bendigo. The suburb has a university qualification rate of 22.3%, which is 7.8 percentage points below the national figure, consistent with a trade and services workforce profile.
Is Lockwood South safe?
Lockwood South recorded 26 total offences with a crime rate of 24.7 per 1,000 residents, which is low in absolute terms for a suburb of 1,052 people. The largest category was justice procedures offences at 12 incidents, followed by property and deception offences at 8 and crimes against the person at just 3.
Is Lockwood South good for property investment?
The investor case is limited. Only 4% of households rent, far below state averages, and the vacancy rate is 7.0%, indicating supply already exceeds thin demand. Weekly rent of $320 is modest. Household income at the 79.9th percentile nationally supports stable tenancies, but the small rental pool and 9 planning permits in 12 months signal a market better suited to owner-occupiers.
How is Lockwood South's population changing?
Lockwood South has a population of 1,052 across 50.74 square kilometres. Stability is very high: 84.3% of residents remained at the same address over the prior year, compared to much higher turnover in metropolitan suburbs. Development is gradual at 9 single-dwelling planning permits in 12 months, suggesting slow organic growth rather than rapid expansion.
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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