Metcalfe is a town in Mount Alexander Shire. Victoria, Australia. At the 2021 census, Metcalfe had a population of 190. The name 'Metcalfe' …Metcalfe is a town in Mount Alexander Shire. Victoria, Australia. At the 2021 census, Metcalfe had a population of 190. The name 'Metcalfe' probably derives from Baron Metcalfe, Governor-General of India and later of Canada, who died in 1846. Metcalfe lies on the Coliban River, downstream from the Malmsbury reservoir.