Town by town snapshot Newstead

October 14, 2023 BY

This four-bedroom Newstead property on acreage sold recently for $670,000.

Newstead is approximately 46.7 square kilometres and has three parks covering nearly 21.1 per cent of total area.

The population of Newstead in 2016 was 750 and by the 2021 Census the population was recorded at 820 showing a population increase of 9.3 per cent in the area during that time.

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

Newstead offers cosy cafes, a community art gallery, local hotels, wineries, artist studios and more.

Although located 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.

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

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

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

CoreLogic data indicates that the predominant age group in Newstead is 60 to 69 years with households in Newstead being primarily childless couples and are likely to be repaying on average $1300 per month on mortgages.

In general, people in Newstead work in a professional occupation.


In 1995 Newstead was united with Castlemaine city and most of Maldon and Metcalfe shires to form Mount Alexander Shire.


Population: 820

Male: 51.2%

Female: 48.8%

Median age: 51

5-year population change: 9.3 per cent?

House median value: $581,500

Change in Median Price: (5yrs) is 61.2%

Median asking rent per week: $420

Average length of ownership: 12 years

Owner occupiers: 86%

Renters: 14%


House median sale price:

June 2023: $625,000

June 2022: $665,000

June 2021: $550,000

June 2020: $454,500

June 2019: $348,000


House sales per annum:

Period ending June 2023: 4

Period ending June 2022: 15


Land median sale price:

June 2023: N/A

June 2022: N/A


Land sales per annum:

Period ending June 2023: 3

Period ending June 2022: 1