Lovely Banks (Vic.)

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According to analysis of ABS population updates for the wider region, and new addresses validated by Districts since the Census, the suburb of Lovely Banks has an estimated population of approximately 2,684 as of May 2026. This represents a decline of 98 residents (3.5%) relative to the 2021 Census, which counted 2,782 residents. This shift is calculated from the resident population of 2,684, estimated by Districts using the newest ABS ERP data release (June 2025) and 1 validated new address since the Census date. This population count yields a density ratio of 89 persons per square kilometer, indicating substantial space per resident and capacity for additional growth. Over the last ten years, the suburb of Lovely Banks has shown steady expansion trends with a 1.5% compound annual growth rate, exceeding the Rest of Vic.. Population expansion in the area was mostly fueled by net overseas migration, which accounted for roughly 66.0% of the overall population growth during recent times.

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Lovely Banks has a qualified labor force, with the building sector being notably well represented, and an unemployment rate of 10.0%, according to Districts' compilation of regional statistical data. As of March 2026, 1,443 local residents are employed, whereas the unemployment rate is 6.4% higher than the Regional Vic. rate of 3.7%, indicating potential for betterment, and labor force participation is significantly elevated (70.5% compared to 61.1% in Regional Vic.). Based on Census replies, a small 13.1% of residents worked from home, though the influence of Covid-19 pandemic restrictions should be kept in mind.

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The newest postcode-level ATO statistics from Districts for the 2023 financial year show that incomes in the suburb of Lovely Banks exceed the national average, with a median of $63,992 and an average of $71,893. This is higher than the Regional Vic. medians and averages of $50,954 and $62,728 respectively. Adjusted for Wage Price Index growth of 9.62% since the 2023 financial year, current estimates would be roughly $70,148 for the median and $78,809 for the average as of March 2026. Census findings show that household, family, and personal incomes in Lovely Banks align close to the 56th percentile nationally. The income profile indicates that 36.3% of the population (974 residents) earn in the $1,500 - 2,999 range, which is comparable to the wider metropolitan trend of in this category. After accounting for housing costs, residents keep of their earnings, indicating strong discretionary spending capacity, and the area is positioned in the th decile for SEIFA income distribution.

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Residential structures in Lovely Banks at the time of the latest Census consisted of 91.4% standalone houses and 8.6% other housing types (such as semi-detached properties, apartments, and alternative dwellings), compared to 90.1% houses and 9.9% other housing types across Regional Vic.. Meanwhile, the rate of home ownership in Lovely Banks trailed behind the Regional Vic. average, sitting at 35.8%, with the remaining properties occupied by mortgage holders (50.0%) or tenants (14.2%). The median monthly mortgage payment in the area was significantly higher than the Regional Vic. average of $1,430 at $1,747, while the median weekly rent was recorded at $350, compared to $285 in Regional Vic.. On a national scale, mortgage payments in Lovely Banks are lower than the Australian average of $1,863, and rents are below the national median of $375.

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Family households make up the vast majority of households at 80.3%, consisting of 40.5% couples with children, 26.2% couples without children, and 13.0% single-parent households. Non-family households comprise the remaining 19.7%, with lone-person households representing 17.1% and group households accounting for 2.2% of the total. The median household size of 2.9 individuals is larger than the Regional Vic. average of 2.4.

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The community experiences some educational hurdles, with university graduation rates (16.6%) tracking well below the Victorian average of 33.4%. This represents both a hurdle and an opening for targeted educational programs. Bachelor degrees are the most common qualification at 11.7%, followed by postgraduate degrees (3.4%) and graduate diplomas (1.5%). Vocational and technical training are highly represented, with 37.9% of residents aged 15+ holding a vocational qualification, consisting of advanced diplomas (10.6%) and certificates (27.3%).

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Analysis of public transport shows there are 5 active transit stops functioning in Lovely Banks. These stops are served by 1 separate routes, which together provide 261 passenger trips each week. Transport accessibility is classified as moderate, with residents living an average of 421 meters from their closest transport stop. Due to the residential nature of the area, most residents travel elsewhere for work, and private vehicles are the primary mode of travel at 96%. Vehicle ownership averages 2.1 cars per household, which is above the regional average. A small 13.1% of residents work from home (based on 2021 Census data, which may reflect the impact of COVID-19 safety measures).

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Lovely Banks displays favorable health statistics based on Districts' evaluation of mortality data and the occurrence of chronic illness, with both younger and older demographics showing low rates of widespread health conditions, while the proportion of residents with private health insurance is exceptionally high at roughly 55% of the population (~1,482 people). This compares to 50.5% across Regional Vic..

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Lovely Banks exhibits higher levels of cultural diversity than most comparable local markets, with 24.3% of the population born outside Australia and 28.0% speaking a non-English language at home. Christianity is the primary religion, representing 55.6% of residents in Lovely Banks. However, the most distinct religious overrepresentation is seen in Islam, which accounts for 5.4% of the population, compared to 1.0% throughout Regional Vic..

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The median age of 37 years in Lovely Banks is significantly younger than the Regional Vic. average of 43 and very close to the Australian national average of 38. The age distribution shows a high concentration of people aged 25 - 34 (16.1%), whereas the 65 - 74 age bracket is smaller (7.1%) than the regional average. Since 2021, the 25 to 34 age segment has increased from 14.2% to 16.1% of the population. In contrast, the 5 to 14 cohort decreased from 12.5% to 10.4% and the 45 to 54 group decreased from 15.4% to 13.9%. Looking forward to demographic projections indicate notable shifts in the local age profile. The to cohort is forecast to grow substantially, increasing by individuals () from to . Meanwhile, the to group is projected to grow by a marginal ( individuals).

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Lovely Banks currently has an estimated 144 children under 5 years old, comprising approximately 100 children aged 0-2 and 67 children aged 3-4. This cohort grew by an estimated 6% since the previous census. while population forecasts indicate future growth, with an anticipated increase of 40% by 2041 (to approximately 201 children). Meanwhile the 5-12 cohort currently amounts to 238. Recent growth has been driven by high birth rates observed in the area, with approximately 14.4 births per 1,000 residents recorded over the latest two-year period analysed which ranks the area among the top 20% of areas assessed nationally.