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

Based on analysis of ABS population updates for the broader area, and new addresses validated by AreaSearch since the Census the suburb of Waterford (WA)'s population is estimated at around 2,671 as of May 2026. This reflects an increase of 211 people (8.6%) since the 2021 Census, which reported a population of 2,460 people. The change is inferred from the resident population of 2,651, estimated by AreaSearch following examination of the latest ERP data release by the ABS (June 2025) and an additional 46 validated new addresses since the Census date. This level of population equates to a density ratio of 1,712 persons per square kilometer, which is above the average seen across national locations assessed by AreaSearch. Over the past decade, the suburb of Waterford (WA) has demonstrated resilient growth patterns with a 1.3% compound annual growth rate, outpacing the SA3 area. Population growth for the area was primarily driven by overseas migration that contributed approximately 87.0% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, as released in 2024 with 2022 as the base year. For any SA2 areas not covered by this data, and to estimate growth across all areas in the years post-2032, AreaSearch is utilising the growth rates by age cohort provided by the ABS in its latest Greater Capital Region projections (released in 2023, based on 2022 data). Anticipating future population dynamics, an above median population growth of national areas is projected, with the suburb of Waterford (WA) expected to expand by 449 persons to 2041 based on aggregated SA2-level projections, reflecting recording a gain of 16.1% in total over the 16 years.

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

According to investigations of ABS building permit figures distributed from statistical district records, about 25 homes receive planning approval in Waterford annually, with a total of 126 residences approved during the past 5 financial years (between FY-21 and FY-25) and 6 during the current FY-26. With a ratio of 1 individuals moving to the locality for each constructed dwelling during the past 5 financial years (between FY-21 and FY-25), demand matches supply closely, generating balanced conditions, while new dwellings carry an average projected construction cost of $825,000, showing builder concentration on upscale projects. Furthermore, commercial approvals reached $25.1 million this financial year, which reveals ongoing investment in commercial real estate.

Compared with Greater Perth, Waterford exhibits 53.0% greater building activity (per individual), giving buyers more options. Incoming construction consists of 79.0% standalone houses and 21.0% medium and high-density complexes, keeping the neighborhood's suburban feel intact through a focus on standalone homes for purchasers wanting more room. With around 86 individuals per approved unit, Waterford exhibits the markings of a developing district.

Looking forward, Waterford is projected to add 429 inhabitants by 2041 (starting from the most recent AreaSearch quarterly projection). Under current building trends, the supply of new units should easily satisfy demands, offering favorable purchasing conditions and potentially paving the way for expansion that exceeds current forecasts.

Waterford has moderate levels of nearby infrastructure activity, ranking in the 47thth percentile nationally

Local infrastructure projects and planning changes are key drivers of regional performance. AreaSearch has identified 2 projects expected to affect the local area. Notable projects include the Sam Kerr Football Centre and Queens Park Regional Open Space, the Australian Hockey Centre, the Curtin University B316 Sciences Building, and the Willetton Sports Precinct Transformation, with key details provided in the list below.

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 performance in Waterford exceeds national averages across key labour market indicators

Waterford possesses a highly educated labor pool with significant representation in professional roles, an unemployment rate sitting at just 3.3%, and a 1.4% rise in estimated jobs over the previous year, compiled from regional statistical data. By March 2026, 1,490 inhabitants were employed, with the local unemployment rate landing 0.9% under the 4.2% rate of Greater Perth, while labor participation is slightly low (65.2% compared to 70.2% in Greater Perth). Census records indicate that a low 11.8% of workers performed their duties from home, though the influence of pandemic restrictions must be kept in mind.

The primary sectors employing local residents are healthcare & social assistance, professional & technical services, and education & training. The district displays a particularly high density in professional & technical fields, with jobs appearing at 1.8 times the regional average. Conversely, building trades show less representation at 5.2% compared to the regional benchmark of 9.3%. The highly residential nature of the locality suggests that local employment opportunities are limited, as shown by comparing the count of Census working residents against the overall resident cohort.

Based on evaluations of SALM and ABS figures aggregated from broader statistical regions, during the year ending March 2026, employment numbers rose by 1.4% and the workforce expanded by 1.4%, which kept unemployment rates steady. In contrast, Greater Perth experienced employment expansion of 2.0%, workforce growth of 2.5%, and an increase of 0.4 percentage points in unemployment. National employment forecasts from May-25 published by Jobs and Skills Australia provide additional context on future demand trends in Waterford. These projections, spanning five and ten-year intervals, have been applied to the local workforce makeup to calculate potential patterns. Although nationwide employment is projected to grow by 6.6% over five years and 13.7% over ten years, trends vary widely between industries. Applying these sector-specific models to the local workforce distribution yields an estimated local job increase of 6.9% over five years and 14.2% over ten years (note this is a weighted model for illustration and ignores specific local population projections).

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

Taxpayer data from the ATO aggregated by AreaSearch for financial year 2023 indicates that Waterford incomes are very high in comparison to national averages. The median taxpayer income is $52,530 and the average taxpayer income is $74,795, which contrast with regional figures for Greater Perth of $60,748 and $80,248. Adjusted for Wage Price Index growth of 10.93% since financial year 2023, current figures are estimated at approximately $58,272 (median) and $82,970 (average) as of March 2026. Census data from 2021 places household incomes in the 83rd percentile ($2,301 weekly), whereas individual incomes are lower in the 49th percentile. Income distribution shows the $1,500 - 2,999 bracket is the most common, capturing 27.4% of residents (731 people), which is close to the regional rate of 32.0%. A high level of wealth is evident, with 38.7% of residents earning more than $3,000 weekly, which helps sustain high-end retail and local services. Residents keep 87.6% of their earnings after paying for housing, showing strong discretionary funds, and the suburb ranks in the 9th decile on the SEIFA index.

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

Census data shows that residential structures in Waterford consist of 90.3% houses and 9.7% alternative housing types (including semi-detached units, flats, and other dwellings), whereas the Perth metro average is 77.8% houses and 22.1% alternative options. Homeownership rates in Waterford are high, with 50.5% of homes owned outright, while the remaining properties are mortgaged (33.9%) or rented (15.6%). Typical monthly mortgage payments of $2,817 are higher than the Perth metro median of $1,907, and weekly rent is $410 compared to the regional median of $350. Nationally, mortgage payments in Waterford are higher than the Australian median of $1,863, and rent exceeds the national median of $375.

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

Families make up the majority of households at 80.3%, consisting of couples with children (37.2%), couples without children (31.5%), and single parents (8.2%). Non-family households account for 19.7% of the total, with single person households representing 14.4% and group shared households at 6.0%. The median household size of 2.8 people is larger than the Greater Perth median of 2.6.

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

Academic credentials in Waterford are high compared to broader averages, with 50.9% of residents aged 15+ holding tertiary degrees, compared to 27.9% across WA and 29.9% in the SA4 region. This education level positions the area well for professional opportunities. Bachelor degrees are held by 32.2% of the population, followed by postgraduate qualifications (15.0%) and graduate diplomas (3.7%). Vocational courses are held by 23.3% of residents aged 15+, comprising advanced diplomas (11.5%) and certificates (11.8%).

Enrolment rates in education are high, with 31.6% of residents currently studying. This contains 10.5% in tertiary courses, 7.8% in high schools, and 7.4% in primary schools.

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

Public transport services include 9 active bus stops located in Waterford. These stops are served by 6 routes, which provide 1,359 weekly passenger trips. Transport access is good, with residents living an average of 264 meters from the nearest stop. The suburb is primarily residential, and most workers commute out of the area. Cars are the main transport mode at 80%, followed by trains at 10% and buses at 7%. Average vehicle ownership is 1.8 cars per home, which is higher than the regional average. A low proportion of residents (11.8%) worked from home during the 2021 Census, which may reflect pandemic-era conditions.

Service frequency averages 194 runs per day across all routes, which is approximately 151 weekly runs for each individual stop.

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

Health metrics show positive outcomes in Waterford, based on AreaSearch assessments of mortality and chronic disease trends. The occurrence of common medical conditions is low across all age cohorts, and private health coverage is high at 57% of the population (~1,519 people), compared to 59.0% in Greater Perth.

Arthritis and asthma are the most common medical conditions, affecting 6.3% and 5.2% of residents respectively. However, 76.4% of residents reported having no chronic medical conditions, compared to 71.9% in Greater Perth. Working-age residents show high health levels with low rates of chronic illness. Residents aged 65 and over make up 21.3% of the community (568 people), which is higher than the Greater Perth average of 16.1%. Seniors in this area show strong health outcomes, with national rankings aligning with the wider population.

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 high cultural diversity metrics, with 41.8% of the population speaking a language other than English at home and 53.1% born outside Australia. Christianity is the most common religious affiliation, representing 50.4% of the population. Buddhism has a high relative concentration at 7.8% of the population, which is higher than the Greater Perth average of 2.7%.

Ancestry details show that the three most common backgrounds in Waterford are Chinese at 23.7% of the population (higher than the regional average of 4.0%), English at 19.1% (lower than the regional average of 28.0%), and Other at 13.8%. Other groups show notable differences from regional averages, including Polish ancestry at 1.0% (compared to 0.7% regionally), Korean at 0.8% (compared to 0.3%), and Sri Lankan at 0.6% (compared to 0.2%).

Waterford's median age exceeds the national pattern

With a median age of 40, Waterford has a slightly older profile than Greater Perth at 37 and Australia at 38. The 65 - 74 age group is highly represented at 13.4% of the local population, while the 5 - 14 group is lower at 7.8%. Since 2021, younger residents have reduced the median age by 1.0 years to 40. The 25 to 34 age group grew from 12.6% to 15.7%, and the 15 to 24 age group rose from 14.9% to 17.2%. The 5 to 14 cohort fell from 10.1% to 7.8%, and the 55 to 64 group dropped from 14.0% to 12.7%. Forecasts for 2041 project major changes, with the 75 to 84 cohort increasing by 64% (120 people), growing from 186 to 307. The 5 to 14 and 35 to 44 cohorts are expected to decrease in size.