It’s expected 40,900 people will call Warrnambool home by 2031. 

The figures from the Victoria in Future 2014 report released this week show a short-term forecast of 35,800 residents by 2021. 

However, there will be a steady climb in the number of elderly residents over the next 20 years. More than 21 per cent of the city will be over 65 compared to 15.7 per cent in 2011. 

People under 20 will make up 24 per cent. 

Lyndoch Living chief executive Rhys Boyle said there was already a shortage of aged-care workers in the city.

“That’s only going to increase,” Mr Boyle said. 

He said ageing baby boomers would be “wealthier and fitter” largely due to better medications.

“The data we’ve done is showing a growing ageing population ... the increase are going to be significant in the 85-plus,” he said. 

He said Warrnambool already had a “glut” of nursing home beds but added the market for home care would rise in the coming decade.

The city’s burgeoning population will also bring new suburbs in the city’s west and north.

Warrnambool City Council growth director Bill Millard said land was still being rezoned under the council’s strategic plan released in December last year. 

The Wollaston area has capacity for another 2200 homes while North Dennington has capacity for an additional 1500. There are another 600 lots already earmarked with in the city. 

Space for a new school has also been set aside in the city’s north.