Gould Creek, a tributary of the Little Para River, is named after Joseph Gould, the original settler in the valley. Joseph, his wife Frances, and three daughters, left Somerset, London, and sailed to Adelaide, arriving on 25 September 1839. Joseph was first recorded as a farmer on the Little Para in 1847 (it is likely that he settled there much earlier) where he purchased a substantial amount of land following the course of Gould Creek. Many willows and river red gums lined the banks of the creek which flowed all year long. Joseph built his home which he called Burrowhill on Section 5616 in the Hundred of Munno Para. On the property, which Joseph continued to add to, he raised cattle and had a dairy.
Joseph died in 1870, and is buried in the One Tree Hill Methodist Churchyard. His eldest daughter, Elizabeth, inherited half the property. Elizabeth had married William Kelly in 1848. Kelly built one of the oldest, largest and most magnificent buildings in the area known as the Gould Creek homestead. The homestead was situated on the banks of Gould Creek in Section 5620 in the Hundred of Munno Para. Five generations of the family lived in the house.
Close to the Gould Creek homestead there was reputed to be an Aboriginal burial ground. In 1914, a human skeleton buried sitting up was found, having been exposed when the creek had flooded and washed away the soil. Early farmers spoke of many Aboriginal people living in the Gould Creek area in the latter half of the nineteenth century.
Unfortunately, the homestead and property were acquired by the E & W S and were demolished to make way for the construction of the Little Para Reservoir in 1977.