Mount Waverley

Population growth drivers in Mount Waverley are slightly above average based on AreaSearch's ranking of recent, and medium term trends

Based on ABS population updates and AreaSearch validations, the suburb of Mount Waverley's population is estimated at around 38,238 as of May 2026. This reflects an increase of 2,898 people (8.2%) since the 2021 Census which reported a population of 35,340. The change was inferred from AreaSearch's resident population estimate of 38,151 following examination of ABS's latest ERP data release in June 2025 and an additional 421 validated new addresses since the Census date. This level of population equates to a density ratio of 2,519 persons per square kilometer, placing Mount Waverley in the upper quartile relative to national locations assessed by AreaSearch. Mount Waverley's 8.2% growth since census is within 1.1 percentage points of the state (9.3%), demonstrating competitive growth fundamentals. Population growth was primarily driven by overseas migration contributing approximately 98.0% of overall population gains during recent periods.

AreaSearch adopts ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022, and VIC State Government's Regional/LGA projections released in 2023 adjusted using weighted aggregation method for areas not covered by ABS data. Growth rates by age group are applied across all areas for years 2032 to 2041. Future population trends project an above median growth with the suburb expected to grow by 8,348 persons to 2041 based on aggregated SA2-level projections, reflecting a total increase of 21.6% over the 16 years.

AreaSearch assessment of residential development activity positions Mount Waverley among the top 25% of areas assessed nationwide

Mount Waverley saw approximately 232 new homes approved annually. From FY-21 to FY-25, around 1,160 homes were approved, with a further 201 approved in FY-26. On average, each dwelling constructed over these years accommodated about 1.1 new residents per year. However, this figure increased to 4.3 people per dwelling over the past two financial years, indicating Mount Waverley's growing popularity and potential supply constraints.

New homes are valued at an average of $967,000, suggesting a focus on premium properties by developers. This financial year has seen $31.7 million in commercial approvals, reflecting strong local business investment. Compared to Greater Melbourne, Mount Waverley's construction activity is 20.0% higher per person over the past five years.

The area maintains good buyer choice while supporting existing property values. New developments consist of 54.0% detached dwellings and 46.0% attached dwellings, offering options across various price points. Mount Waverley reflects a developing area with around 169 people per approval. By 2041, the population is forecasted to increase by 8,261 residents. Construction pace is keeping up with projected growth, but buyers may face increasing competition as the population grows.

Mount Waverley has very high levels of nearby infrastructure activity, ranking in the top 10% nationally

Thirty-one infrastructure projects have been identified by AreaSearch as potentially impacting the area. Notable projects include 151-161 Forster Road Industrial Development, Mount Waverley Activity Centre Structure Plan, Mount Waverley Reserve Masterplan Implementation, and Syndal Place Townhouses. The following list details those considered most relevant.

Professional plan users can use the search below to filter and access additional projects.

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Employment conditions in Mount Waverley rank among the top 10% of areas assessed nationally

Mount Waverley has a highly educated workforce with strong representation in professional services. Its unemployment rate was 1.6% as of December 2025. The area experienced an estimated employment growth of 4.7% over the past year, according to AreaSearch's aggregation of statistical area data.

As of December 2025, there were 20,916 residents in work, with an unemployment rate of 3.2%, lower than Greater Melbourne's rate of 4.8%. Workforce participation was somewhat below standard at 66.5% compared to Greater Melbourne's 69.9%. A high 40.0% of residents worked from home based on Census responses, though Covid-19 lockdown impacts should be considered. The key industries of employment among residents were professional & technical, health care & social assistance, and retail trade.

Mount Waverley demonstrated notable concentration in professional & technical services with employment levels at 1.4 times the regional average. Conversely, construction showed lower representation at 6.6% versus the regional average of 9.7%. While local employment opportunities exist, many residents commute elsewhere for work based on the count of Census working population to local population. Over a 12-month period ending in December 2025, employment increased by 4.7% alongside labour force increasing by 4.8%, leaving unemployment broadly flat. Greater Melbourne recorded employment growth of 2.4%, labour force growth of 2.8%, with unemployment rising 0.3 percentage points during the same period. Jobs and Skills Australia's national employment forecasts from May-25 suggest that national employment is forecast to expand by 6.6% over five years and 13.7% over ten years. Applying these industry-specific projections to Mount Waverley's employment mix suggests local employment should increase by 6.9% over five years and 14.1% over ten years, based on a simple weighting extrapolation for illustrative purposes and not accounting for localised population projections.

Income levels align closely with national averages, indicating typical economic conditions for Australian communities according to AreaSearch analysis

Mount Waverley's income level is very high nationally. According to AreaSearch aggregating ATO data for financial year 2023, Mount Waverley's median income among taxpayers is $51,652 and average income stands at $75,299. These figures compare to Greater Melbourne's of $57,688 and $75,164 respectively. Based on a 9.62% increase since financial year 2023, current estimates would be approximately $56,621 (median) and $82,543 (average) as of March 2026. The 2021 Census shows household income ranks at the 69th percentile ($2,066 weekly), with personal income at the 51st percentile. Distribution data indicates that 28.8% of residents (11,012 people) earn between $1,500 and $2,999 weekly, mirroring regional levels where 32.8% occupy this bracket. Mount Waverley demonstrates affluence with 32.8% earning over $3,000 per week, supporting premium retail and service offerings. Housing accounts for 15.1% of income, while strong earnings rank residents within the 72nd percentile for disposable income. The area's SEIFA income ranking places it in the 8th decile.

Mount Waverley displays a diverse mix of dwelling types, with above-average rates of outright home ownership

Mount Waverley's dwelling structures, as per the latest Census, consisted of 68.6% houses and 31.4% other dwellings (semi-detached, apartments, 'other' dwellings). This compares to Melbourne metro's 67.9% houses and 32.1% other dwellings. Home ownership in Mount Waverley stood at 42.9%, with mortgaged dwellings at 32.3% and rented ones at 24.8%. The median monthly mortgage repayment was $2,600, higher than Melbourne metro's average of $2,000. Median weekly rent in Mount Waverley was $476, compared to Melbourne metro's $390. Nationally, Mount Waverley's mortgage repayments were significantly higher at $2,600 versus the Australian average of $1,863, and rents were substantially above the national figure of $375 at $476.

Mount Waverley features high concentrations of family households, with a higher-than-average median household size

Family households account for 77.0% of all households, including 40.9% couples with children, 24.3% couples without children, and 10.5% single parent families. Non-family households constitute the remaining 23.0%, with lone person households at 19.2% and group households comprising 3.7%. The median household size is 2.7 people, larger than the Greater Melbourne average of 2.6.

Mount Waverley demonstrates exceptional educational outcomes, ranking among the top 5% of areas nationally based on AreaSearch's comprehensive analysis of qualification and performance metrics

Mount Waverley's educational attainment is notably higher than broader averages. Among residents aged 15+, 48.5% possess university qualifications, compared to the SA4 region's 29.8% and Australia's 30.4%. This high level of educational attainment positions Mount Waverley favourably for knowledge-based opportunities. Bachelor degrees are most prevalent at 29.0%, followed by postgraduate qualifications (15.7%) and graduate diplomas (3.8%).

Vocational pathways account for 21.1% of qualifications, with advanced diplomas at 10.7% and certificates at 10.4%. Educational participation is notably high in Mount Waverley, with 31.5% of residents currently enrolled in formal education. This includes 9.1% in primary education, 8.6% in secondary education, and 8.2% pursuing tertiary education.

Transport servicing is moderate compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Mount Waverley has 124 active public transport stops, all of which are bus stops. These stops are served by 19 different routes that together facilitate 4,952 weekly passenger trips. The area's transport accessibility is rated as good, with residents typically located about 290 meters from the nearest stop. Most residents commute outwards due to its residential nature. Cars remain the primary mode of transportation at 84%, while trains are used by 9%. On average, there are 1.4 vehicles per dwelling.

According to the 2021 Census, a significant 40% of residents work from home, which may be influenced by COVID-19 conditions. The service frequency averages 707 trips daily across all routes, equating to roughly 39 weekly trips per individual stop. A map accompanies this data, highlighting the 100 nearest stops to the location's centrepoint.

Mount Waverley's residents boast exceedingly positive health performance metrics with very low prevalence of common health conditions across all age groups

Mount Waverley's health outcomes data shows excellent results based on AreaSearch's assessment of mortality rates and chronic condition prevalence.

The area has a very low prevalence of common health conditions across all age groups. Approximately 57% (~21,627 people) of Mount Waverley's total population has private health cover. The most prevalent medical conditions are arthritis (6.1%) and asthma (5.9%). A significant majority, 75.5%, report being completely free from medical ailments compared to Greater Melbourne's 72.6%. Mount Waverley has a higher proportion of seniors aged 65 and over at 18.4% (7,035 people) than Greater Melbourne's 15.0%. Health outcomes among seniors in Mount Waverley are strong and align with national rankings for the general population.

Mount Waverley is among the most culturally diverse areas in the country based on AreaSearch assessment of a range of language and cultural background related metrics

Mount Waverley has a high level of cultural diversity, with 51.4% of its population speaking a language other than English at home and 49.3% born overseas. Christianity is the predominant religion in Mount Waverley, comprising 40.4% of the population. However, Buddhism stands out as overrepresented compared to Greater Melbourne, making up 7.8% of Mount Waverley's population versus 4.2%.

In terms of ancestry, Chinese residents are notably high at 22.1%, substantially higher than the regional average of 6.5%. English ancestry follows at 15.2%, while Australian ancestry is lower than the regional average at 12.9%. Other ethnic groups with notable divergences include Sri Lankan (2.3% vs 0.8%), Greek (5.3% vs 2.7%), and Korean (1.3% vs 0.3%).

Mount Waverley's population is slightly older than the national pattern

Mount Waverley's median age is 40, which is higher than Greater Melbourne's figure of 37 and Australia's median age of 38. The population aged 85 and above is notably over-represented in Mount Waverley at 3.6%, compared to the Greater Melbourne average. Conversely, those aged 25-34 are under-represented at 12.0%. Between 2021 and the present, the proportion of the population aged 15-24 has increased from 13.4% to 14.6%, while the proportion of those aged 45-54 has decreased from 13.7% to 12.9%. By 2041, demographic modeling suggests significant changes in Mount Waverley's age profile. The 45-54 age cohort is projected to expand by 1,694 people (34%), growing from 4,932 to 6,627. Meanwhile, the 0-4 age cohort is expected to grow modestly by 9%, adding 133 people.