Mount Waverley

Population growth drivers in Mount Waverley are strong compared to national averages based on AreaSearch's ranking of recent, and medium to long-term trends

The population of Mount Waverley, as estimated based on analysis of ABS updates and AreaSearch validation, stands at approximately 38,273 as of November 2025. This figure represents an increase of 2,933 people since the 2021 Census, which recorded a population of 35,340. The change is inferred from the resident population estimate of 37,799 by AreaSearch following examination of the latest ERP data release by ABS in June 2024 and an additional 393 validated new addresses since the Census date. This results in a population density ratio of 2,521 persons per square kilometer, placing Mount Waverley in the upper quartile relative to national locations assessed by AreaSearch. The suburb's growth rate of 8.3% since the census is within 0.6 percentage points of the national average (8.9%), indicating competitive growth fundamentals. Overseas migration contributed approximately 98.0% of overall population gains during recent periods, driving primary growth in the area.

AreaSearch adopts ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered by this data, AreaSearch utilises VIC State Government's Regional/LGA projections released in 2023, adjusting using weighted aggregation methods to SA2 levels. Growth rates by age group from these aggregations are applied across all areas for years 2032 to 2041. Future population trends project an above median growth for the suburb, with an expected increase of 9,072 persons to 2041 based on aggregated SA2-level projections, reflecting a total increase of 22.4% over the 17 years.

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

Mount Waverley has witnessed approximately 232 new home approvals annually, with a total of 1,160 approved between FY-21 to FY-25. In FY-26, 94 homes have been approved so far. Each year, an average of 1.1 new residents per dwelling has been recorded over the past five financial years. However, this figure has increased to 4.3 people per dwelling in the last two financial years, indicating Mount Waverley's growing popularity and potential supply constraints.

The average construction value for new homes is $967,000, reflecting a developer focus on premium properties. In FY-26, commercial approvals have reached $31.7 million, suggesting robust local business investment. Compared to Greater Melbourne, Mount Waverley has recorded 20.0% higher construction activity per person over the past five years, offering good buyer choice while supporting existing property values.

New developments consist of 54.0% detached dwellings and 46.0% attached dwellings, providing options across various price points. Mount Waverley's population growth is projected to add 8,594 residents by 2041, with construction maintaining a reasonable pace to support this growth. However, increasing competition among buyers can be expected as the population continues to rise.

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

Changes in local infrastructure significantly impact an area's performance. AreaSearch has identified 31 projects that could affect this region. Notable projects 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 professional services well represented. The unemployment rate was 1.6% as of June 2025, lower than Greater Melbourne's 4.6%.

Employment growth over the past year was estimated at 4.2%. There were 20,683 residents in work by June 2025, with a workforce participation rate of 61.3%, below Greater Melbourne's 64.1%. Key industries for employment among residents are professional & technical, health care & social assistance, and retail trade. Professional & technical services have particularly high concentration, at 1.4 times the regional average.

Conversely, construction shows lower representation at 6.6% compared to the regional average of 9.7%. Many residents commute elsewhere for work based on Census data. In the 12 months prior, employment increased by 4.2%, labour force grew by 4.4%, leading to a rise in unemployment rate by 0.2 percentage points. By comparison, Greater Melbourne recorded employment growth of 3.5% and an unemployment rate increase of 0.5 percentage points. Jobs and Skills Australia's national employment forecasts from Sep-22 project national employment growth at 6.6% over five years and 13.7% over ten years. Applying these projections to Mount Waverley's employment mix suggests local employment should increase by 6.9% over five years and 14.1% over ten years, though this is a simplified extrapolation for illustrative purposes only.

Income analysis reveals strong economic positioning, with the area outperforming 60% of locations assessed nationally by AreaSearch

Mount Waverley's median income among taxpayers was $51,652 in financial year 2022. The average income stood at $75,299 during the same period. Comparing these figures to Greater Melbourne's $54,892 and $73,761 respectively shows Mount Waverley had a higher median but slightly lower average income. Based on a 12.16% increase since financial year 2022 using the Wage Price Index, current estimates would be approximately $57,933 for median income and $84,455 for average income as of September 2025. According to the 2021 Census, household income ranks at the 69th percentile with a weekly income of $2,066. Personal income sits at the 51st percentile. Distribution data shows that 28.8% of residents (11,022 people) fall within the $1,500 - 2,999 weekly income bracket, 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. 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 dwellings, 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 69.6% houses and 30.3% 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, exceeding Melbourne metro's average of $2,383. Median weekly rent in Mount Waverley was $476, compared to Melbourne metro's $440. Nationally, mortgage repayments were significantly higher at $1,863 and rents substantially above the national figure of $375.

Mount Waverley features high concentrations of family households, with a fairly typical 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, which aligns with the Greater Melbourne average.

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

Educational attainment in Mount Waverley is notably high, with 48.5% of residents aged 15 years and above holding university qualifications as of the latest data point. This figure surpasses both the SA4 region average (29.8%) and the national average (30.4%). The area's educational advantage is evident in its distribution of qualifications: Bachelor degrees lead at 29.0%, followed by postgraduate qualifications (15.7%), and graduate diplomas (3.8%). Vocational pathways account for 21.1% of qualifications among those aged 15 years and above, with advanced diplomas making up 10.7% and certificates accounting for 10.4%.

Educational participation is high, 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. As of the latest data point, 11 schools serve a total of 7,629 students in Mount Waverley. The educational mix comprises 7 primary schools, 3 secondary schools, and 1 K-12 school. School capacity exceeds typical residential needs, with 19.9 places per 100 residents compared to the regional average of 15.8, indicating that the area serves as an educational center for the broader region. Note: where schools show 'n/a' for enrolments, please refer to the parent campus for accurate figures. The International Comparative School and College Effectiveness Analysis (ICSEA) score for Mount Waverley is 1142, reflecting significant socio-educational advantages and academic achievement in the area.

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

Transport analysis in Mount Waverley shows 124 active public transport stops operating. These include a mix of train and bus services. There are 20 individual routes servicing these stops, collectively providing 6,215 weekly passenger trips.

Transport accessibility is rated as good, with residents typically located 290 meters from the nearest stop. Service frequency averages 887 trips per day across all routes, equating to approximately 50 weekly trips per individual stop.

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

Mount Waverley shows excellent health outcomes, with very low prevalence of common health conditions across all age groups. The rate of private health cover is approximately 57% (~21,647 people), higher than Greater Melbourne's 54.4%.

The most prevalent medical conditions are arthritis (6.1%) and asthma (5.9%). About 75.5% of residents report no medical ailments, similar to Greater Melbourne's 75.3%. Around 18.1% (~6,927 people) are aged 65 or over, with seniors' health outcomes aligning with the general population's profile.

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 high cultural diversity, with 51.4% speaking a language other than English at home and 49.3% born overseas. Christianity is the main religion, at 40.4%. Buddhism is overrepresented at 7.8%, compared to Greater Melbourne's 7.9%.

Top ancestry groups are Chinese (22.1%), English (15.2%), and Australian (12.9%). Sri Lankan, Greek, and Korean ethnicities show notable divergences: Sri Lankan at 2.3% (vs regional 2.1%), Greek at 5.3% (vs 5.6%), Korean at 1.3% (vs 1.1%).

Mount Waverley's median age exceeds the national pattern

Mount Waverley has a median age of 40, which is slightly higher than Greater Melbourne's figure of 37 and Australia's national average of 38 years. Comparing with the Greater Melbourne average, Mount Waverley has an over-representation of the 15-24 age group at 14.6%, while the 25-34 year-olds are under-represented at 11.7%. Between 2021 and present, the 15 to 24 age group has increased from 13.4% to 14.6% of the population. Conversely, the 45 to 54 cohort has decreased from 13.7% to 13.0%. By 2041, demographic modeling projects significant changes in Mount Waverley's age profile. The 45-54 age group is expected to expand notably by 1,705 people (34%), growing from 4,975 to 6,681. Meanwhile, the 0-4 cohort is projected to grow modestly by 9%, adding 135 people.