Mount Waverley

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

The population of the Mount Waverley statistical area (Lv2) is estimated to be around 39,149 as of November 2025. This reflects an increase of 3,809 people, representing a growth of 10.8%, since the 2021 Census which reported a population of 35,340. The change is inferred from the resident population estimated by AreaSearch at 37,795 following examination of the latest ERP data release by the ABS in June 2024, along with an additional 393 validated new addresses since the Census date. This 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. The Mount Waverley (SA2) had a population growth rate of 10.8% since the 2021 Census, exceeding the national average of 9.7%. Overseas migration 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 a base year of 2022. For areas not covered by this data, AreaSearch utilises the VIC State Government's Regional/LGA projections released in 2023, adjusting with a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Future population trends project an above median growth for the Mount Waverley (SA2), expected to grow by 9,072 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

Mount Waverley saw approximately 232 new homes approved annually, with around 1,160 homes approved between FY-21 to FY-25 and another 144 approved in FY-26. This results in an average of 1.1 new residents per dwelling over the past five financial years, indicating balanced supply and demand conditions. However, this ratio has increased to 4.3 people per dwelling over the last two financial years, suggesting growing popularity and potential supply constraints. The average construction value for new homes is $967,000, reflecting a focus on premium properties.

Commercial approvals reached $31.7 million in FY-26, indicating strong local business investment. Compared to Greater Melbourne, Mount Waverley has seen elevated construction activity at 20.0% above the regional average per person over five years. The dwelling mix consists of 54.0% detached and 46.0% attached dwellings, offering options across various price points.

With around 169 people per approval, Mount Waverley is considered a developing area. Population forecasts estimate an increase of 7,718 residents by 2041. Construction pace is maintaining with projected growth, but buyers may face growing competition due to increasing population.

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

Thirty-two projects have been identified by AreaSearch as potentially impacting the area's performance, with key projects including 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 likely to be 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. As of September 2025, the unemployment rate is 1.6%, with an estimated employment growth of 4.7% over the past year.

There are 20,698 residents currently employed, compared to Greater Melbourne's unemployment rate of 4.7%. Workforce participation in Mount Waverley is slightly lower at 61.3%, compared to Greater Melbourne's 64.1%. Key industries for employment among residents include professional & technical services (1.4 times the regional average), health care & social assistance, and retail trade. However, construction shows a lower representation of 6.6% versus the regional average of 9.7%.

Many residents commute elsewhere for work opportunities. In the past year, employment increased by 4.7%, while labour force grew by 4.9%, causing unemployment to rise by 0.1 percentage points. Comparatively, Greater Melbourne recorded employment growth of 3.0% and unemployment rising by 0.3 percentage points. State-level data from 25-Nov shows VIC employment grew by 1.13% year-on-year, with the state unemployment rate at 4.7%. National employment forecasts from May-25 suggest a potential growth of 6.9% over five years and 14.1% over ten years for Mount Waverley's employment mix.

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 high nationally according to latest ATO data aggregated by AreaSearch for financial year 2023. Median income among taxpayers in Mount Waverley is $51,652 and average income stands at $75,299. These figures compare with Greater Melbourne's median of $57,688 and average of $75,164. Based on 8.25% growth since financial year 2023, estimated incomes as of September 2025 are approximately $55,913 (median) and $81,511 (average). According to 2021 Census figures, household income ranks at the 69th percentile ($2,066 weekly), while personal income is at the 51st percentile. Income distribution shows that 28.8% of residents (11,274 people) earn between $1,500 and $2,999 weekly, similar to regional levels where 32.8% occupy this bracket. Mount Waverley's affluence is evident with 32.8% earning over $3,000 per week, supporting premium retail and services. Housing accounts for 15.1% of income, while strong earnings place residents in 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 in its latest Census comprised 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. Mount Waverley's home ownership level was 42.9%, with mortgaged dwellings at 32.3% and rented ones at 24.8%. The median monthly mortgage repayment in the area 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, Mount Waverley's mortgage repayments were significantly higher than the Australian average of $1,863, while rents were substantially above the national figure of $375.

Mount Waverley features high concentrations of family households, with a fairly typical 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 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

Mount Waverley's educational attainment is notably higher than broader averages. Among residents aged 15+, 48.5% have university qualifications compared to the SA4 region's 29.8% and Australia's 30.4%. University graduates make up 29.0%, postgraduate qualifications are held by 15.7%, and graduate diplomas account for 3.8%. Vocational pathways comprise 21.1% of qualifications, with advanced diplomas at 10.7% and certificates at 10.4%.

Educational participation is high, with 31.5% currently enrolled in formal education. This includes 9.1% in primary, 8.6% in secondary, 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. These are a mix of train and bus services. There are 19 individual routes operating in total.

Each week, these routes provide 4,952 passenger trips collectively. The accessibility of transport is rated as good, with residents typically located 290 meters from the nearest stop. On average, there are 707 trips per day across all routes, which equates to approximately 39 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. Approximately 57% (~22,142 people) have private health cover, compared to Greater Melbourne's 54.2%.

The most prevalent medical conditions are arthritis and asthma, affecting 6.1 and 5.9% of residents respectively. About 75.5% claim to be free from medical ailments, similar to the 75.3% across Greater Melbourne. Around 18.1% (~7,085 people) are aged 65 and over. Seniors' health outcomes align with those of 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, making up 40.4% of the population. However, Buddhism is notably overrepresented, comprising 7.8% compared to the regional average of 7.9%.

The top three ancestry groups are Chinese at 22.1%, English at 15.2%, and Australian at 12.9%. There are also notable divergences in the representation of certain ethnic groups: Sri Lankan is overrepresented at 2.3% compared to the regional average of 2.1%, Greek at 5.3% (vs regionally at 5.6%), and Korean at 1.3% (vs regionally at 1.1%).

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

Mount Waverley's median age is 40, higher than Greater Melbourne's 37 and Australia's 38 years. Locally, those aged 15-24 are over-represented at 14.6%, while 25-34 year-olds are under-represented at 11.7%. Between 2021 and present, the 15-24 age group has increased from 13.4% to 14.6%. Conversely, the 45-54 cohort has decreased from 13.7% to 13.0%. By 2041, Mount Waverley's age profile is projected to change significantly. The 45-54 age group is expected to expand by 1,591 people (31%), growing from 5,089 to 6,681. Meanwhile, the 0-4 cohort is projected to grow by a modest 6% (100 people).