Lovely Banks
All four SEIFA indexes place Lovely Banks in decile 1 nationally, the lowest advantage tier, yet household income sits in the 74.6th percentile. That gap is explained by the suburb's structure: 91.4% of dwellings are separate houses, 56.5% have four or more bedrooms, and the mortgage-belt profile means income flows into repayments rather than wealth accumulation. With only 2,782 residents spread across 29.88 square kilometres, density is just 93 people per square kilometre, far below metropolitan norms. Rent grew 40% over the measurement period against 20% real income growth, a squeeze that helps explain why renters make up only 13.6% of households while outright owners reach 35.9%.
Population
2,782
Median Age
37.0
Household IncomeiMedian weekly household income (ABS Census)
$1,991/wk
DAs (12 months)iDevelopment Applications lodged in the past year
4
Median House
$770K
Apr-Jun 2024
The median house price of $770,000, recorded in the April to June 2024 quarter, has more than doubled from $360,500 in 2013, a compound annual growth rate of 5.6% over 14 years. Price history shows steady appreciation: $690,000 in October to December 2023 rising to $727,500 by March 2024 and $770,000 by June 2024. Separate houses dominate at 91.4% of stock, and 56.5% of dwellings have four or more bedrooms, so buyers get substantial space compared to metropolitan alternatives. Monthly mortgage repayments average $1,747, representing 20.3% of household income, below the 30% stress threshold. The high outright ownership rate of 35.9% versus 50.4% with mortgages suggests many long-term holders have built equity, leaving churn concentrated among newer buyers entering at current prices.
For Buyers
The median house price of $770,000, recorded in the April to June 2024 quarter, has more than doubled from $360,500 in 2013, a compound annual growth rate of 5.6% over 14 years. Price history shows steady appreciation: $690,000 in October to December 2023 rising to $727,500 by March 2024 and $770,000 by June 2024. Separate houses dominate at 91.4% of stock, and 56.5% of dwellings have four or more bedrooms, so buyers get substantial space compared to metropolitan alternatives. Monthly mortgage repayments average $1,747, representing 20.3% of household income, below the 30% stress threshold. The high outright ownership rate of 35.9% versus 50.4% with mortgages suggests many long-term holders have built equity, leaving churn concentrated among newer buyers entering at current prices.
For Investors
The rental market is thin: only 13.6% of dwellings are rented, weekly rent is $350, and the vacancy rate sits at 4.9%, which is elevated. Against the $770,000 median that rent implies a gross yield near 2.4%, low for a regional market but not unusual given the dominant owner-occupier base. Development activity is minimal at 4 applications in the past 12 months, all subdivision or ancillary works rather than new dwellings, so supply pressure is negligible. The migration picture is a constraint: internal migration runs at negative 292 residents per year, partially offset by overseas inflows of 202. Population growth of 0.27% annually adds only 49 persons per year. The gentrification score of 10 classifies this as not gentrifying, so capital growth depends on broader regional market movements rather than local demographic uplift.
Development Activity
Total DAs
4
Last 12 Months
4
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 Lovely Banks iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Geelong Baptist College
Prep-12 · 255 students
Demographics
The median age of 37 is 3.0 years below the national figure, reflecting the family-formation households that dominate the suburb. University qualifications reach 24.6%, which is 5.5 percentage points below the national rate, consistent with the occupational mix skewing toward trades and manual roles. Overseas-born residents are 24.3%, sitting 2.7 points above national. Ancestry is Anglo-Celtic led by English (685), Scottish (219) and Irish (192), with Italian (267) a notable third. Average household size is 2.9, which is 0.4 above the national figure because couples with children (934 families) are the dominant household type. The most common non-English languages are Croatian (44), Macedon (40) and Italian (31), pointing to established Southern and Eastern European communities. Christianity is the primary religion (1,449), with Islam (140) and Hinduism (53) the next largest groups.
Age Distribution
Bedrooms
Dwelling Structure
91.4%
Houses
4.0%
Townhouse
4.6%
Apartment
Tenure
Tenure splits show 35.9% owning outright, 50.4% carrying a mortgage and 13.6% renting, a pattern that is heavily weighted toward ownership compared to most Australian suburbs. Mortgage holders outnumber outright owners by a wide margin, reflecting a mortgage-belt cohort working toward equity. The stock is almost entirely detached: 91.4% separate houses, 4.6% apartments, 4.0% semi-detached. Four-plus bedroom dwellings account for 56.5% of the total, with three-bedroom homes at 32.0% and two-bedroom at 11.2%. The median price of $770,000 is at its peak for the recorded history of 15 quarters, up 113.6% from $360,500 in 2013 at a 5.6% CAGR. Rent-to-income at 17.6% is below the 30% stress threshold, and mortgage-to-income at 20.3% is similarly comfortable, which is notable given all four SEIFA deciles sit at 1.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,747
Rent / wk
$350
HH Size
2.9
Personal Income / wk
$798
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
4.9%
Unoccupied
47
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
17.6%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
20.3%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
21.7%
Couples, no children
2,389
Total families
Economy & Employment
Healthcare leads the industry mix at 18.1% of employed residents (158 workers), followed by Construction at 14.9% (130) and Education at 8.7% (76). Manufacturing and Public Admin each account for roughly 8% of employment. By occupation, Labourers (199) and Professionals (198) are near equal at the top, followed closely by Community and Personal services (191) and Managers (168). The full-time employment rate is 64.4% with an unemployment rate of 4.6%, slightly above the national figure. Participation sits at 64.1%. All four SEIFA indexes score decile 1 nationally, meaning this suburb ranks in the bottom tenth for education, occupation, income and economic resources combined, even though household income is at the 74.6th percentile. That anomaly arises because SEIFA weights factors like university qualifications and professional occupations, which are below the national average here.
Unemployment
13.0%
Labour Force
8,739
Unemployed
1,132
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
64.4%
Part-time
31.0%
Participation
64.1%
Employed
1,404
Occupations
Top Industries
University
24.6%
Postgraduate
5.6%
Born Overseas
24.3%
Dwellings
919
Transport to Work
Car dependence is extreme: 88.9% of residents drive to work, compared to just 1.6% using public transport, and 1.1% who walk or cycle. That pattern reflects the low-density, 29.88 square kilometre footprint without rail access. No schools are recorded inside the suburb boundary, so families use schools in neighbouring areas. Crime is recorded at 54.6 incidents per 1,000 residents, with property and deception offences accounting for 92 of 152 total recorded incidents. Volunteering runs at 10.7% and 6.3% of residents need daily assistance. All four SEIFA decile 1 scores place this suburb in the bottom tenth nationally for relative advantage, though housing stress indicators are manageable: rent-to-income at 17.6% and mortgage-to-income at 20.3% both sit below the 30% threshold.
Drive
88.9%
Public Transport
1.6%
Walk / Cycle
1.1%
Work from Home
N/A
Population Forecast
+0.27%/yr
(+49 people/yr)
EstablishedAnnual population growth of 0.27% adds approximately 49 persons per year, placing Lovely Banks in the slow-growth category. The 10-year population change is 4.8%. Medium forecasts project the broader SA2 population growing from 18,486 in 2025 to 18,841 by 2031, a modest 1.9% cumulative gain. The primary growth driver is overseas migration at a net 202 per year, while internal migration is a net negative 292, meaning the suburb loses residents to other parts of Australia even as international arrivals arrive. The gentrification score is 10, classified as not gentrifying, with signals including the net internal outflow and strong overseas inflow. Rent grew 40% over the measurement period versus 20% real income growth, a divergence that tightens affordability over time.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+202
Net Internal / yr
-292
Gentrification Signal
Not gentrifying
Net internal outflow -292/yr, Strong overseas inflow +202/yr
Safety & Crime
Total Offences
152
Year ending June 2024
Rate per 1,000 People
54.6
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 Lovely Banks compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Lovely Banks a good suburb to live in?
Lovely Banks suits families who prioritise space over convenience. With 91.4% of dwellings being separate houses and 56.5% having four or more bedrooms, it offers more room per dollar than most Melbourne-fringe areas. The trade-offs are significant: all four SEIFA indexes sit at decile 1 nationally, no schools operate within the suburb boundary, 88.9% of workers drive to jobs elsewhere, and public transport reaches just 1.6% of commuters.
What is the median house price in Lovely Banks?
The median house price is $770,000, recorded in the April to June 2024 quarter. Prices have grown 113.6% from $360,500 in 2013, a compound annual growth rate of 5.6% over 14 years. Monthly mortgage repayments average $1,747, which is 20.3% of household income, below the 30% stress threshold.
What schools are in Lovely Banks?
No schools are recorded inside the Lovely Banks suburb boundary. Families rely on schools in neighbouring suburbs. Despite the lack of local schools, 24.6% of residents hold university qualifications, which is below the national average by 5.5 percentage points.
Is Lovely Banks safe?
Lovely Banks recorded 152 total crimes in the most recent year, a rate of 54.6 incidents per 1,000 residents. Property and deception offences were the largest category at 92 incidents, followed by crimes against the person at 41. All four SEIFA indexes score decile 1, the lowest advantage tier nationally, which typically correlates with higher crime exposure.
Is Lovely Banks good for property investment?
The investment case is mixed. The median house price of $770,000 has grown at 5.6% per year CAGR over 14 years, but the rental yield is modest: weekly rent of $350 against a $770,000 median implies a gross yield near 2.4%. The vacancy rate of 4.9% is elevated, the renter share is only 13.6%, and the gentrification score of 10 classifies the suburb as not gentrifying. Net internal migration is negative 292 per year, which constrains tenant demand growth.
How is Lovely Banks's population changing?
Population growth is slow at 0.27% per year, adding around 49 residents annually. The 10-year population change is 4.8%. Overseas migration of 202 net arrivals per year is the only positive driver, offset by net internal outflow of 292 residents. Medium forecasts project the broader SA2 reaching 18,841 residents by 2031, a 1.9% cumulative gain from the 2025 level of 18,486.
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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