Waterford (WA)

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

As of Nov 2025, the estimated population of the Waterford (WA) statistical area is around 2,659. This figure reflects an increase of 199 people since the 2021 Census, which reported a population of 2,460. The change was inferred from AreaSearch's estimation of 2,655 residents based on the latest ERP data release by ABS (June 2024), along with an additional 18 validated new addresses since the Census date. This results in a population density ratio of 1,704 persons per square kilometer, exceeding national averages assessed by AreaSearch. Over the past decade, Waterford has exhibited consistent growth patterns with a compound annual growth rate of 1%. Population growth was primarily driven by overseas migration contributing approximately 87% 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 and to estimate growth post-2032, AreaSearch utilises growth rates by age cohort provided by ABS in its latest Greater Capital Region projections (released in 2023, based on 2022 data). Future population trends indicate above median growth for statistical areas analysed by AreaSearch. By 2041, the Waterford (WA) (SA2) is projected to increase by 510 persons, reflecting a total increase of 22.8% over the 17-year period.

AreaSearch analysis of residential development drivers sees Waterford recording a relatively average level of approval activity when compared to local markets analysed countrywide

Waterford has seen approximately 16 new homes approved annually based on AreaSearch analysis of ABS building approval numbers. Over the past five financial years, from FY-21 to FY-25, around 82 homes were approved, with an additional 4 approved so far in FY-26. On average, 2.6 people have moved to the area per new home constructed over these five years, indicating strong demand that supports property values.

New homes are being built at an average expected construction cost of $825,000, reflecting a developer focus on the premium segment with upmarket properties. This year, there have been $25.1 million in commercial approvals, suggesting balanced commercial development activity. Compared to Greater Perth, Waterford maintains similar construction rates per person, preserving market equilibrium consistent with surrounding areas.

New building activity comprises 94.0% detached houses and 6.0% medium and high-density housing, sustaining the area's suburban identity with a concentration of family homes suited to buyers seeking space. With around 320 people per dwelling approval, Waterford shows a developing market. Population forecasts indicate Waterford will gain 606 residents by 2041, according to the latest AreaSearch quarterly estimate. Building activity is keeping pace with growth projections, though buyers may experience increased competition as the population grows.

Waterford has moderate levels of nearby infrastructure activity, ranking in the 45thth percentile nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified two projects that may affect this region. Notable projects are Sam Kerr Football Centre and Queens Park Regional Open Space, Australian Hockey Centre, Curtin University B316 Sciences Building, Wilson Riverfront Masterplan (Canning River Precinct Redevelopment). The following details those likely most 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.

The employment environment in Waterford shows above-average strength when compared nationally

Waterford has a highly educated workforce with strong professional services representation. Its unemployment rate is 3.3%, with an estimated employment growth of 3.1% over the past year (AreaSearch data).

As of September 2025, there are 1,534 employed residents, with an unemployment rate of 0.7% lower than Greater Perth's 4.0%. Workforce participation is at 60.7%, below Greater Perth's 65.2%. Leading industries include health care & social assistance, professional & technical services, and education & training. Professional & technical services have a notable concentration, with employment levels at 1.8 times the regional average.

Conversely, construction shows lower representation at 5.2% compared to the regional average of 9.3%. Employment opportunities locally appear limited based on Census working population vs resident population data. Between September 2024 and September 2025, employment levels increased by 3.1%, labour force by 2.7%, reducing unemployment by 0.4 percentage points (AreaSearch analysis). In contrast, Greater Perth had employment growth of 2.9% and labour force growth of 3.0%. State-level data to 25-Nov-25 shows WA employment contracted by 0.27%, with an unemployment rate of 4.6% compared to the national rate of 4.3%. National employment forecasts (May-25) project a 6.6% increase over five years and 13.7% over ten years. Applying these projections to Waterford's employment mix suggests local employment could grow by 6.9% over five years and 14.2% over ten years, though this is a simple weighting extrapolation for illustrative purposes only.

The economic profile demonstrates above-average performance, with income metrics exceeding national benchmarks based on AreaSearch comparative assessment

AreaSearch's latest postcode level ATO data for financial year ending June 2023 shows median income in Waterford suburb is $52,530 and average income is $74,795. In Greater Perth, median income is $60,748 and average income is $80,248. Based on Wage Price Index growth of 9.62% from July 2023 to September 2025, estimated median income in Waterford would be approximately $57,583 and average income would be around $81,990. According to Australian Bureau of Statistics Census data for 2021, household incomes rank at the 83rd percentile ($2,301 weekly) while personal incomes rank at the 49th percentile. Income analysis reveals that 27.4% of Waterford residents earn between $1,500 and $2,999 weekly (728 individuals), which is similar to the surrounding region where this cohort represents 32.0%. Notably, 38.7% earn above $3,000 weekly. After housing costs, residents retain 87.6% of their income, indicating strong purchasing power. The area's SEIFA income ranking places it in the 9th decile.

Waterford is characterized by a predominantly suburban housing profile, with above-average rates of outright home ownership

Waterford's dwellings, as per the latest Census evaluation, consisted of 90.3% houses and 9.7% other dwellings (semi-detached, apartments, 'other' dwellings). In contrast, Perth metro had 49.3% houses and 50.7% other dwellings. Home ownership in Waterford stood at 50.5%, with mortgaged dwellings at 33.9% and rented ones at 15.6%. The median monthly mortgage repayment was $2,817, higher than Perth metro's $2,200. The median weekly rent figure in Waterford was $410, compared to Perth metro's $360. Nationally, Waterford's mortgage repayments exceeded the Australian average of $1,863, while rents were above the national figure of $375.

Waterford features high concentrations of group households and family households, with a higher-than-average median household size

Family households account for 80.3% of all households, including 37.2% couples with children, 31.5% couples without children, and 8.2% single parent families. Non-family households constitute the remaining 19.7%, with lone person households at 14.4% and group households comprising 6.0%. The median household size is 2.8 people, which is larger than the Greater Perth average of 2.2.

Educational outcomes in Waterford fall within the lower quartile nationally, indicating opportunities for improvement in qualification attainment

Waterford's educational attainment is notably higher than broader averages. Among residents aged 15 and above, 50.9% possess university qualifications, compared to 27.9% in Western Australia (WA) and 29.9% in the SA4 region. This high level of educational attainment positions Waterford favourably for knowledge-based opportunities. Bachelor degrees are the most common at 32.2%, followed by postgraduate qualifications at 15.0% and graduate diplomas at 3.7%.

Vocational pathways make up 23.3% of qualifications among those aged 15 and above, with advanced diplomas accounting for 11.5% and certificates for 11.8%. Educational participation is particularly high in Waterford, with 31.6% of residents currently enrolled in formal education. This includes 10.5% in tertiary education, 7.8% in secondary education, and 7.4% pursuing primary education.

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

Waterford has nine active public transport stops in operation. These are served by six different bus routes, together offering 1,359 weekly passenger trips. Residents enjoy good transport accessibility, with an average distance of 264 meters to the nearest stop.

The service frequency is 194 trips per day across all routes, which translates to about 151 weekly trips per individual stop.

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

Health outcomes data shows excellent results across Waterford, with very low prevalence of common health conditions across all age groups. The rate of private health cover is high, at approximately 57% of the total population (around 1,512 people), compared to 68.8% in Greater Perth.

Arthritis and asthma are the most common medical conditions, affecting 6.3 and 5.2% of residents respectively. A significant majority, 76.4%, report being completely free from medical ailments, compared to 72.6% in Greater Perth. Waterford has a higher proportion of seniors aged 65 and over, at 21.6% (574 people), than Greater Perth's 20.5%. Health outcomes among seniors are particularly strong, outperforming the general population in health metrics.

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

Waterford has a high level of cultural diversity, with 41.8% of its population speaking a language other than English at home and 53.1% born overseas. Christianity is the main religion in Waterford, comprising 50.4% of the population. Notably, Buddhism makes up 7.8% of Waterford's population, which is higher than the Greater Perth average of 3.4%.

In terms of ancestry, the top three groups are Chinese (23.7%), English (19.1%), and Other (13.8%). There are significant differences in the representation of certain ethnic groups compared to regional averages: Polish (1.0% vs 0.9%), Korean (0.8% vs 0.4%), and Sri Lankan (0.6% vs 0.3%).

Waterford's median age exceeds the national pattern

Waterford has a median age of 40, which is somewhat higher than Greater Perth's figure of 37 and marginally higher than Australia's 38 years. Compared to Greater Perth's average, Waterford has an over-representation of the 65-74 cohort (13.4% locally) and an under-representation of 5-14 year-olds (7.8%). Between 2021 and now, the 15-24 age group has grown from 14.9% to 16.9%, while the 25-34 cohort increased from 12.6% to 14.4%. Conversely, the 5-14 cohort declined from 10.1% to 7.8%. By 2041, demographic modeling suggests Waterford's age profile will change significantly. The 75-84 age cohort is projected to grow by 152 people (79%), from 194 to 347. Notably, the combined 65+ age groups are expected to account for 50% of total population growth, reflecting the area's aging demographic profile. Meanwhile, the 5-14 cohort is projected to decline by 4 people.