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

Waterford's population, as of November 2025, is estimated at around 2,790. This figure reflects an increase of 330 people since the 2021 Census, which reported a population of 2,460. AreaSearch validated this estimate following examination of the latest ERP data release by the ABS in June 2024 and additional 18 new addresses since the Census date. This level of population equates to a density ratio of 1,788 persons per square kilometer. Waterford's 13.4% growth since the 2021 census exceeded the national average (8.9%). Population growth for the suburb was primarily driven by overseas migration contributing approximately 87.0% 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 and to estimate growth post-2032, AreaSearch utilises growth rates by age cohort provided by the ABS in its latest Greater Capital Region projections (released in 2023, based on 2022 data). Future population trends project an above median increase for statistical areas analysed by AreaSearch. The suburb is expected to increase by 510 persons to 2041, reflecting a total increase of 17.0% over the 17 years.

Residential development activity is slightly higher than average within Waterford when compared nationally

Waterford has seen approximately 18 new homes approved annually based on AreaSearch analysis. Between FY-21 and FY-25, around 91 homes were approved, with an additional 4 approved in FY-26 to date. On average, 2.4 people have moved to the area per new home constructed over these years, indicating strong demand that supports property values.

The average expected construction cost value of new homes is $825,000, reflecting a focus on premium properties by developers. This financial year has seen $1.6 million in commercial approvals, suggesting a predominantly residential focus. Waterford's construction rates per person are similar to Greater Perth, maintaining market equilibrium with surrounding areas despite recent slowdowns in building activity.

The area sees 86.0% detached dwellings and 14.0% townhouses or apartments, preserving its traditional suburban character focused on family homes. There are approximately 194 people per dwelling approval, indicating an expanding market. Population forecasts suggest Waterford will gain 475 residents by 2041. Current development levels appear aligned with future requirements, maintaining stable market conditions without significant price pressures.

Waterford has strong levels of nearby infrastructure activity, ranking in the top 40% nationally

Infrastructure changes significantly influence an area's performance. AreaSearch identified three major projects potentially impacting this region. Key projects are Sam Kerr Football Centre and Queens Park Regional Open Space, Westfield Carousel Expansion, Australian Hockey Centre, and Curtin University B316 Sciences Building. The following details those 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 labour market in Waterford demonstrates typical performance when compared to similar areas across Australia

Waterford has a highly educated workforce with professional services showing strong representation. The unemployment rate is 3.3%, with an estimated employment growth of 3.8% over the past year (AreaSearch aggregation).

As of June 2025, there are 1,538 residents in work, with an unemployment rate of 0.5% below Greater Perth's rate of 3.9%. Workforce participation is somewhat lower at 60.7%, compared to Greater Perth's 65.2%. Employment is concentrated in health care & social assistance, professional & technical, and education & training sectors. The area specializes particularly in professional & technical employment, with a share 1.8 times the regional level.

Conversely, construction shows lower representation at 5.2%, compared to the regional average of 9.3%. Employment opportunities locally appear limited as indicated by Census working population vs resident population count. Between June 2024 and June 2025, employment levels increased by 3.8% and labour force by 3.4%, causing unemployment rate to fall by 0.3 percentage points. In contrast, Greater Perth experienced employment growth of 3.7% and labour force growth of 3.8%, with a rise in unemployment rate by 0.1 percentage point. Jobs and Skills Australia's national employment forecasts from Sep-22 project national employment expansion by 6.6% over five years and 13.7% over ten years, with varying growth rates between industry sectors. Applying these projections to Waterford's employment mix suggests local employment should increase by 6.9% over five years and 14.2% over ten years (simple weighting extrapolation for illustrative purposes).

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

AreaSearch released postcode level ATO data for financial year 2022. Waterford's median income among taxpayers was $52,530, with an average of $74,795. Nationally, this is high compared to Greater Perth's median of $58,380 and average of $78,020. By September 2025, estimates suggest the median income will be approximately $59,989 and the average $85,416, based on a 14.2% Wage Price Index growth since financial year 2022. Census 2021 data shows Waterford's household incomes rank at the 83rd percentile ($2,301 weekly), but personal income ranks lower at the 49th percentile. Income analysis reveals that 27.4% of residents earn between $1,500 and $2,999 weekly (764 residents). This is similar to the metropolitan region where 32.0% fall into this bracket. Notably, 38.7% of Waterford residents earn above $3,000 weekly, indicating strong economic capacity in the suburb. After housing costs, residents retain 87.6% of their income, reflecting 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 dwelling structures, as per the latest Census, consisted of 90.3% houses and 9.7% other dwellings (semi-detached, apartments, 'other' dwellings). Perth metro, in comparison, had 49.3% houses and 50.7% other dwellings. Home ownership in Waterford was at 50.5%, with the remaining dwellings being mortgaged (33.9%) or rented (15.6%). The median monthly mortgage repayment in Waterford was $2,817, higher than Perth metro's average of $2,200. Median weekly rent in Waterford was recorded at $410, compared to Perth metro's $360. Nationally, Waterford's mortgage repayments were significantly higher than the Australian average of $1,863, while rents exceeded 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 constitute 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 account for 19.7%, with lone person households at 14.4% and group households comprising 6.0%. The median household size is 2.8 people, 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 educational advantage is evident in various qualification types: bachelor degrees at 32.2%, postgraduate qualifications at 15.0%, and graduate diplomas at 3.7%. Vocational pathways are also pursued, with advanced diplomas accounting for 11.5% and certificates for 11.8% among those aged 15 and above.

Educational participation in Waterford is high, 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. Clontarf Aboriginal College operates within the area, enrolling 138 students as of a specific date. The area's educational conditions are varied (ICSEA: 718). Secondary education is dominated by one school, while primary students typically attend schools in nearby catchments due to limited local school capacity (5.0 places per 100 residents compared to the regional average of 17.8). Consequently, many families travel to neighboring areas for schooling.

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

Transport analysis in Waterford shows 11 active public transport stops operating, all of which are bus stops. These stops are served by 6 different routes that together facilitate 1,373 weekly passenger trips. The accessibility of these services is rated as good, with residents on average being located 264 meters from the nearest stop.

On a daily basis, there are an average of 196 trips across all routes, which translates to approximately 124 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

Waterford's health outcomes show excellent results with very low prevalence of common health conditions across all age groups. Approximately 57% (~1,587 people) have private health cover, compared to Greater Perth's 67.8%.

The most prevalent medical conditions are arthritis (6.3%) and asthma (5.2%). A total of 76.4% report no medical ailments, compared to 72.6% in Greater Perth. In Waterford, 21.5% (~599 people) are aged 65 or over, with seniors showing strong health outcomes that outperform the general population's 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 significant cultural diversity, with 41.8% of its population speaking a language other than English at home and 53.1% born overseas. Christianity is the predominant religion in Waterford, comprising 50.4% of the population. Notably, Buddhism is overrepresented in Waterford compared to Greater Perth, making up 7.8% versus 3.4%.

The top three ancestry groups in Waterford are Chinese at 23.7%, English at 19.1%, and Other at 13.8%. There are also notable differences in the representation of Polish (1.0% vs regional average of 0.9%), Korean (0.8% vs 0.4%), and Sri Lankan (0.6% vs 0.3%) ethnic groups in Waterford compared to the region.

Waterford hosts an older demographic, ranking in the top quartile nationwide

Waterford has a median age of 40, which is higher than Greater Perth's figure of 37 and marginally higher than Australia's median age of 38 years. The 65-74 age cohort is notably over-represented in Waterford at 13.3%, compared to the Greater Perth average, while the 5-14 year-olds are under-represented at 7.8%. Between 2021 and the present, the population of those aged 15 to 24 has grown from 14.9% to 16.9%, and the 25 to 34 cohort increased from 12.6% to 14.4%. Conversely, the 5 to 14 age group declined from 10.1% to 7.8%, and the 0 to 4 age group dropped from 4.5% to 3.4%. Demographic modeling suggests that Waterford's age profile will evolve significantly by 2041. The 75 to 84 age cohort is projected to grow significantly, expanding by 142 people (70%) from 203 to 346. Notably, the combined 65+ age groups are expected to account for 55% of total population growth, reflecting the area's aging demographic profile. Meanwhile, the 35 to 44 and 5 to 14 cohorts are expected to experience population declines.