Rochester is a compact suburb in Victoria within the Campaspe local government area (postcode 3561). It is home to about 3,154 residents, with an older-leaning population and a median age of 53. Households earn a median income of $56K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at -0.1% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are labourers, managers, technicians & trades. Employment in the area leans toward healthcare and agriculture. The top ancestries reported are Australian, English, Irish.
Rochester has a median house price of $300,000, which has risen steeply by 14.3% year-on-year. The current median weekly rent is $460. This gives a gross rental yield of approximately 8.0%. The median monthly mortgage repayment is $1,083.
Rochester is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 978, which is around the national average of 1,000. Public transport access includes 2 rail stations, 21 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Campaspe LGA is higher than average at 10,244 incidents per 100,000 population.
On the investment side, Rochester shows a gross rental yield of approximately 8.0%, rated as high yield. Property prices sit below the state median ($300K/$875K), which can point to relative value. The price-to-income ratio of 5.4x is considered affordable. House prices have moved +14.3% year-on-year. Population growth of -0.1% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.