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 analysis of ABS population updates for the broader area, and new addresses validated by AreaSearch, the suburb of Mount Waverley's population is estimated at around 39,155 as of Feb 2026. This reflects an increase of 3,815 people (10.8%) since the 2021 Census, which reported a population of 35,340 people. The change is inferred from the resident population of 37,795, estimated by AreaSearch following examination of the latest ERP data release by the ABS in June 2024 and an additional 391 validated new addresses since the Census date. This level of population equates to a density ratio of 2,579 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. Mount Waverley's 10.8% growth since the 2021 census exceeded the national average (9.9%), marking it as a growth leader in the region. Population growth for the area was primarily driven by overseas migration that contributed approximately 98.0% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, released in 2024 with 2022 as the base year. For any SA2 areas not covered by this data, AreaSearch is utilising the VIC State Government's Regional/LGA projections released in 2023 with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations are also applied across all areas for years 2032 to 2041. As we examine future population trends, an above median population growth of national areas is projected, with the suburb expected to grow by 9,068 persons to 2041 based on aggregated SA2-level projections, reflecting a total increase of 19.7% over the 17 years.

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

AreaSearch analysis of ABS building approval numbers shows Mount Waverley had approximately 232 new homes approved annually. Between FY-21 and FY-25, around 1,160 homes were approved, with an additional 159 approved so far in FY-26. Over the past five financial years, an average of 1.1 new residents per dwelling was recorded, indicating balanced supply and demand. However, this figure increased to 4.3 people per dwelling over the last two financial years, suggesting growing popularity and potential supply constraints.

New homes are being constructed at an average expected cost of $967,000, reflecting a focus on premium properties. This year has seen $31.7 million in commercial approvals, indicating robust local business investment. Compared to Greater Melbourne, Mount Waverley's construction levels are 20.0% higher per person over the past five years, offering good buyer choice and supporting property values.

New development consists of 54.0% detached dwellings and 46.0% attached dwellings, providing options across different price points. With around 169 people per approval, Mount Waverley is a developing area. Latest AreaSearch quarterly estimates forecast an increase of 7,708 residents by 2041, suggesting construction will need to maintain pace with projected growth to meet demand.

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

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified 32 projects that may affect the region. Notable initiatives include the 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 most likely to be relevant.

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

Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.

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. The unemployment rate was 1.6% as of December 2025, lower than Greater Melbourne's 4.8%. Employment growth over the past year was estimated at 4.7%.

There were 20,916 residents employed while the participation rate was 67.2%, below Greater Melbourne's 71.3%. A significant portion of residents, 40.0%, worked from home based on Census responses. Key industries include professional & technical services (1.4 times regional average), health care & social assistance, and retail trade. Construction showed lower representation at 6.6% versus the regional average of 9.7%.

While local opportunities exist, many residents commute elsewhere for work. In the year ending December 2025, employment increased by 4.7% while labour force grew by 4.8%, keeping unemployment broadly flat. By comparison, Greater Melbourne recorded employment growth of 2.4%, labour force growth of 2.8%, and a rise in unemployment to 5.1%. Jobs and Skills Australia's national employment forecasts from May-25 suggest total employment will expand by 6.6% over five years and 13.7% over ten years. Applying these projections to Mount Waverley's industry mix indicates local employment should increase by 6.9% over five years and 14.1% over ten years, though this is a simple extrapolation for illustrative purposes only.

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

Mount Waverley suburb's income level is very high nationally according to latest ATO data aggregated by AreaSearch for financial year ended June 2023. Median income among taxpayers in Mount Waverley was $51,652 with average income at $75,299. These figures compare to Greater Melbourne's median of $57,688 and average of $75,164 respectively. Based on Wage Price Index growth of 8.25% since financial year ended June 2023, current estimates for Mount Waverley would be approximately $55,913 (median) and $81,511 (average) as of September 2025. According to Australian Bureau of Statistics Census figures from 2021, household income ranks at the 69th percentile ($2,066 weekly), while personal income sits at the 51st percentile. Distribution data shows that 28.8% of residents (11,276 people) fall within the $1,500 - 2,999 weekly income bracket, mirroring regional levels where 32.8% occupy this bracket. Mount Waverley demonstrates considerable 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 9th decile.

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

Mount Waverley's dwelling structure, as per the latest Census, had 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 $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.

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

Family households constitute 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 account for 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, which is 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 high, with 48.5% of its residents aged 15 and above holding university qualifications. This figure exceeds the SA4 region average of 29.8% and the national average of 30.4%. The area's strong educational background is reflected in its high proportion of Bachelor degree holders (29.0%), followed by postgraduate qualifications (15.7%) and graduate diplomas (3.8%). Vocational pathways are also well-represented, with advanced diplomas accounting for 10.7% and certificates for 10.4% among residents aged 15 and above.

Educational participation in Mount Waverley is high, with 31.5% of its residents currently enrolled in formal education. This includes primary education (9.1%), secondary education (8.6%), and tertiary education (8.2%).

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 deemed good, with residents on average being located 290 meters from the nearest transport stop. As a primarily residential area, most commuting is outward-bound. Car remains the dominant mode of transportation at 84%, while train usage stands at 9%. On average, there are 1.4 vehicles per dwelling in Mount Waverley.

According to the 2021 Census, 40% of residents work from home, which may be influenced by COVID-19 conditions. The service frequency averages 707 trips per day across all routes, equating to approximately 39 weekly trips per individual stop. A map accompanies this data, displaying 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 show excellent results based on AreaSearch's assessment of mortality rates and chronic condition prevalence, with very low prevalence of common health conditions across all age groups.

The rate of private health cover is approximately 57% of the total population (~22,146 people). The most prevalent medical conditions are arthritis (6.1%) and asthma (5.9%). A significant majority, 75.5%, report being completely clear of medical ailments compared to Greater Melbourne's 72.6%. Mount Waverley has a higher proportion of seniors aged 65 and over at 18.7% (~7,321 people) than Greater Melbourne's 15.1%. Despite this, health outcomes among seniors are strong, aligning 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 main religion in Mount Waverley, comprising 40.4% of the population. Buddhism is overrepresented in Mount Waverley compared to Greater Melbourne, making up 7.8% versus 4.2%.

The top three ancestry groups are Chinese (22.1%), English (15.2%), and Australian (12.9%). Notably, Sri Lankan, Greek, and Korean ethnicities are overrepresented in Mount Waverley compared to the regional averages: Sri Lankan at 2.3% versus 0.8%, Greek at 5.3% versus 2.7%, and Korean at 1.3% versus 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 figure of 38. The 15-24 age group is over-represented in Mount Waverley at 14.8%, compared to the Greater Melbourne average. The 25-34 age group is under-represented at 11.3%. Between 2021 and present, the 15-24 age group has increased from 13.4% to 14.8% of the population. Conversely, the 25-34 age group has decreased from 12.1% to 11.3%. By 2041, demographic modeling suggests significant changes in Mount Waverley's age profile. The 45-54 age cohort is projected to expand by 1,641 people (32%), growing from 5,050 to 6,692. Meanwhile, the 0-4 age group is projected to grow modestly by 8% (127 people).