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Castlemaine, VIC 3450
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$745,000
market range $700K-$850K
Median Unit
$570,000
market range $525K-$600K
Gross Yield (units)
3.7%
1yr Growth (houses)
+2.0%
market range +0.0% to +7.5%
Investment snapshot for Castlemaine
Castlemaine has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Castlemaine market and investor summary
Castlemaine (VIC 3450) runs a median house price of $745K. House prices have moved +2.0% over the past year and -1.0% over three years. At 0.8% vacancy, it is a tight rental market that favours landlords.
Rental demand looks steady, with vacancy at 0.8% and a resident base that is not shrinking. Houses also take time to sell, around 94 days on market, so plan for a slower exit if you ever need one.
Living in Castlemaine: people, income and schools
About 7,506 people live in Castlemaine, a number that has held fairly steady over five years. The median age is 52, an older, established demographic, and 73% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
Households here earn a median of about $58,000 a year, or roughly $1,110 a week. On socio-economic measures it ranks around the national middle on the ABS advantage index (5 out of 10). At current prices a median house runs to a steep 13.0 times local household income, so affordability is a genuine constraint on local buyers. Incomes have risen about 18% over five years, which tends to underpin what local buyers can pay.
There are 9 schools within about 5km, testing a little above the national school average on ICSEA. Most day-to-day errands are doable on foot; the suburb scores 70 for walkability and 3 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Node.
- Population
- 7,506
- +3% over 5yr
- Median age
- 52 years
- Median household income
- $58,000/yr
- Households renting
- 23%
- Family households
- 57%
- Socio-economic rank
- 5/10
- ABS advantage index
- Schools within 5km
- 9
- avg ICSEA 1085
- Unemployment
- 3.3%
- Walk score
- 70/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Castlemaine
View all →Frequently asked questions about Castlemaine
What should I check before investing in Castlemaine?
Castlemaine has enough public data for first-pass screening across yield, vacancy, price and supply signals. Tight rental market (0.8% vacancy) gives landlords pricing power and low rental downtime. Walkability score of 70 broadens the tenant pool beyond car-dependent renters. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Castlemaine?
The median property price in Castlemaine, VIC 3450 is $745K for houses and $570K for units.
What rental yield does Castlemaine show?
The gross rental yield in Castlemaine is 3.7% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
What does recent house price growth show for Castlemaine?
House prices in Castlemaine are up 2.0% over the past year and down 1.0% over three years. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in Castlemaine?
The current vacancy rate in Castlemaine is 0.8%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
How many people live in Castlemaine?
Castlemaine has a population of approximately 7,506 residents, with a median age of 52.
What schools are near Castlemaine?
There are 9 schools within roughly 5km of Castlemaine. Their average ICSEA is a little above the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Castlemaine affordable to buy in?
A median house in Castlemaine costs about 13.0 times the median local household income (a high multiple that makes the suburb a stretch for median local earners). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Castlemaine's population growing?
The population of Castlemaine has grown modestly, about 3% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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