Town by town snapshot – Newstead

Newstead is approximately 46.7 square kilometres and has twelve parks covering nearly 25.9 per cent of total area.

The population in 2011 was 802 people and by the 2016 Census it was 750, showing a significant decline of 6.5 per cent in the area during that time.

Situated on the stunning Loddon River, Newstead has charm and character aplenty, which has made it a favourite destination for day-trippers from Melbourne when allowed, and an attractive work commute or weekend retreat option for city-based home buyers and investors.

When fully open, Newstead offers cosy cafes, a community art gallery, local hotels, wineries, artist studios and so much more.

Although situated in the goldfields region, Newstead did not have particularly rich fields to attract rushes of miners.

It grew from being a crossing place on the Loddon River, often for miners travelling to the Castlemaine and Mount Alexander diggings.

A hotel was built near the crossing in 1853 and its name, Newstead, was given to the future township.

Newstead had mostly a farming population, which formed an agricultural society in 1860.

By the mid-1860s there were also a brewery, a biscuit factory, bakery and two hotels.

A three-storey bluestone flour mill was built in 1869, continuing until 1914 and repaired in the 1970s.

In 1868 a mechanics’ institute was opened, and mining re-commenced at Green Gully, about two kilometres east of Newstead, in the 1870s.

Despite the mining activity the population of Newstead shire declined steadily during the 1880s to 1910s.

On 19 January 1995, Newstead Shire was united with Castlemaine and most of Maldon and Metcalfe shires to form Mount Alexander Shire.

CoreLogic data indicates that the predominant age group in Newstead is 60-69 years with households in Newstead being primarily childless couples and are likely to be repaying $1000 – $1399 per month on mortgages. In general, people in Newstead work in a professional occupation.

In 2011, 78.5 per cent of the homes in Newstead were owner-occupied compared with 82.6 per cent in 2016.

 

TIDBIT:

A railway line from Castlemaine to Maryborough, via Newstead, was opened in 1874.

 

Population: 754

Male: 50.7%

Female: 49.3%

Median age: 51

5-year population change: -6.5%

House median value: $562,000

Change in Median Price: (5yrs) is 48%

Median asking rent per week: $350

Average length of ownership: 6 years

Owner occupiers:86%

Renters: 14%

 

House median sale price:

July 2021: $560,000

July 2020: $545,500

July 2019: $467,500

July 2018: $402,000

July 2017: $365,000

 

House sales per annum:

Period ending July 2021: 13

Period ending July 2020: 14

 

Land median sale price:

July 2021: N/A

July 2020: N/A

 

Land sales per annum:

Period ending July 2021: 5

Period ending July 2020: 1