Waverley (NSW)

Waverley is positioned among the lower quartile of areas assessed nationally for population growth based on AreaSearch's assessment of recent, and medium term trends

Based on analysis of ABS population updates for the broader area, and new addresses validated by AreaSearch, Waverley's (NSW) statistical area (Lv2) population is estimated at around 4,483 as of November 2025. This reflects an increase of 267 people (6.3%) since the 2021 Census, which reported a population of 4,216 people. The change is inferred from the resident population of 4,351 estimated by AreaSearch following examination of the latest ERP data release by the ABS in June 2024 and an additional 61 validated new addresses since the Census date. This level of population equates to a density ratio of 7,471 persons per square kilometer, placing Waverley (NSW) (SA2) in the top 10% of national locations assessed by AreaSearch. The area's 6.3% growth since the 2021 Census exceeded the SA3 area's 5.8%, marking it as a growth leader in the region. Population growth was primarily driven by overseas migration, contributing approximately 89.0% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area released in 2024 with 2022 as the base year. For areas not covered, AreaSearch utilises NSW State Government's SA2 level projections released in 2022 with 2021 as the base year. Growth rates by age group are applied to all areas for years 2032 to 2041. Population projections show an above median growth is expected, with Waverley (NSW) (SA2) projected to grow by 868 persons to 2041 based on aggregated SA2-level projections, reflecting a gain of 19.3% in total over the 17 years.

AreaSearch assessment of residential development drivers sees a low level of activity in Waverley, placing the area among the bottom 25% of areas assessed nationally

AreaSearch analysis of ABS building approval numbers allocated from statistical area data shows Waverley experienced around 10 dwelling approvals annually over the past 5 financial years, totalling an estimated 50 homes. No approvals have been recorded so far in FY-26. Over these 5 years, an average of 1.9 new residents arrived per new home, suggesting balanced supply and demand with stable market conditions. However, recent figures indicate accelerating demand at 38.5 people per dwelling over the past 2 financial years, implying tightening supply. New homes are being built at an average expected construction cost value of $777,000, indicating a focus on premium properties by developers.

This financial year has seen $13.2 million in commercial approvals, demonstrating moderate levels of commercial development. Compared to Greater Sydney, Waverley shows approximately 75% of the construction activity per person and ranks among the 11th percentile nationally, suggesting limited buyer options while strengthening demand for established properties. This activity reflects market maturity and possible development constraints. All new construction has been comprised of attached dwellings, appealing to downsizers, investors, and entry-level buyers. This trend represents a significant change from the current housing mix (currently 18.0% houses), likely due to reduced availability of development sites and shifting lifestyle demands and affordability requirements. Waverley has approximately 1471 people per dwelling approval, indicating an established market.

Population forecasts suggest Waverley will gain 865 residents by 2041. If current construction levels persist, housing supply may lag population growth, potentially intensifying buyer competition and underpinning price growth.

Waverley has very high levels of nearby infrastructure activity, ranking in the top 20% nationally

The performance of an area can significantly be influenced by changes in local infrastructure, major projects, and planning initiatives. Two such projects have been identified by AreaSearch as potentially impacting the area. Notable projects include Origami Bondi Junction, Sydney Light Rail Eastern Suburbs Extension, Bondi Junction Vision and Master Plan, and Bronte Collection. The following details those most likely to be relevant:.

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The labour market strength in Waverley positions it well ahead of most Australian regions

Waverley has an educated workforce, notably in the technology sector. Its unemployment rate was 2.2% last year, with estimated employment growth of 3.3%.

As of September 2025, 2,870 residents are employed, with an unemployment rate of 2.0%, below Greater Sydney's 4.2%. Workforce participation is 63.7%, compared to Greater Sydney's 60.0%. Key industries include professional & technical (1.7 times the regional level), health care & social assistance, and finance & insurance. Retail trade is under-represented at 5.5% of Waverley's workforce versus 9.3% in Greater Sydney.

The worker-to-resident ratio is 0.8, indicating above-normal local employment opportunities. Between September 2024 and September 2025, employment levels increased by 3.3%, with labour force growth also at 3.3%, keeping unemployment flat. In contrast, Greater Sydney had employment growth of 2.1% and labour force growth of 2.4%, with a slight rise in unemployment to 4.4%. Statewide, NSW's employment contracted by 0.03% (losing 2,260 jobs) as of 25-Nov-25, with an unemployment rate of 3.9%, lower than the national rate of 4.3%. National employment forecasts from May-25 project growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Waverley's industry mix suggests local employment could increase by 7.5% in five years and 15.0% in ten years, assuming constant population projections.

The economic profile demonstrates exceptional strength, placing the area among the top 10% nationally based on comprehensive AreaSearch income analysis

The median taxpayer income in Waverley suburb is $72,901, with an average of $135,780, according to the latest postcode level ATO data aggregated by AreaSearch for financial year 2023. This is notably higher than Greater Sydney's median income of $60,817 and average income of $83,003. Based on Wage Price Index growth of 8.86% since financial year 2023, estimated incomes as of September 2025 would be approximately $79,360 (median) and $147,810 (average). According to the 2021 Census, household, family, and personal incomes in Waverley rank highly nationally, between the 95th and 96th percentiles. Income analysis shows that the $4000+ bracket dominates with 36.4% of residents (1,631 people), contrasting with regional levels where the $1,500 - 2,999 bracket leads at 30.9%. Waverley demonstrates significant affluence with 48.4% earning over $3,000 per week. High housing costs consume 19.1% of income, yet strong earnings place disposable income at the 94th percentile nationally. The area's SEIFA income ranking places it in the 10th decile.

Waverley features a more urban dwelling mix with significant apartment living, with ownership patterns similar to the broader region

Waverley's dwelling structure, as per the latest Census, consisted of 17.5% houses and 82.5% other dwellings (semi-detached, apartments, 'other' dwellings). Sydney metro had 18.3% houses and 81.8% other dwellings. Home ownership in Waverley was at 24.1%, with mortgaged dwellings at 30.8% and rented ones at 45.1%. The median monthly mortgage repayment was $3,731, higher than Sydney metro's average of $3,600. Median weekly rent in Waverley was $630, compared to Sydney metro's $670. Nationally, Waverley's mortgage repayments were significantly higher at $3,731 versus the Australian average of $1,863, and rents were substantially above the national figure of $375.

Waverley features high concentrations of group households and lone person households, with a fairly typical median household size

Family households account for 62.3% of all households, including 29.9% couples with children, 23.2% couples without children, and 8.4% single parent families. Non-family households constitute the remaining 37.7%, with lone person households at 31.5% and group households comprising 6.1%. The median household size is 2.3 people, which aligns with the Greater Sydney average.

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 Waverley is notably higher than broader benchmarks. Among residents aged 15+, 59.2% hold university qualifications compared to 30.4% nationally and 32.2% in NSW. Bachelor degrees are the most common at 38.9%, followed by postgraduate qualifications (16.6%) and graduate diplomas (3.7%). Vocational pathways account for 20.8% of qualifications, with advanced diplomas at 10.2% and certificates at 10.6%.

Educational participation is high, with 33.0% of residents currently enrolled in formal education. This includes 10.3% in primary education, 8.9% in secondary education, and 6.8% pursuing tertiary education.

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

Waverley has 30 active public transport stops, all serving buses. These stops are covered by 37 different routes that together facilitate 6895 weekly passenger trips. Residents enjoy excellent transport accessibility, with an average distance of 94 meters to the nearest stop.

Service frequency across all routes is 985 trips daily, amounting to approximately 229 weekly trips per individual stop.

Waverley's residents are healthier than average in comparison to broader Australia with prevalence of common health conditions quite low among the general population though higher than the nation's average across older, at risk cohorts

Waverley residents show relatively positive health outcomes, with low prevalence rates for common conditions among the general population, but higher than national averages among older and at-risk cohorts. The rate of private health cover is exceptionally high in Waverley, at approximately 80% of its total population of 3,601 people, compared to 88.6% across Greater Sydney and a national average of 55.7%. Mental health issues and arthritis are the most common medical conditions in Waverley, affecting 7.0% and 6.4% of residents respectively, while 74.6% report being completely clear of medical ailments compared to 77.6% across Greater Sydney.

The area has a higher proportion of seniors aged 65 and over at 17.6%, or 789 people, compared to Greater Sydney's 16.4%. Health outcomes among seniors in Waverley require more attention than the broader population.

Waverley was found to be more culturally diverse than the vast majority of local markets in Australia, upon assessment of a range of language and cultural background related metrics

Waverley's population shows high cultural diversity, with 18.5% speaking a language other than English at home and 38.5% born overseas. Christianity is the predominant religion in Waverley, accounting for 45.8%. Judaism, however, is underrepresented compared to Greater Sydney, comprising 6.9% versus 16.0%.

The top three ancestral groups are English (26.4%), Australian (17.3%), and Irish (11.8%). Some ethnic groups show notable differences: French (1.8%) is overrepresented in Waverley compared to regional averages, as are Russian (1.3%) and Hungarian (0.8%).

Waverley's population aligns closely with national norms in age terms

The median age in Waverley is close to Greater Sydney's average of 37 years, and equivalent to the Australian median of 38 years. Relative to Greater Sydney, Waverley has a higher concentration of residents aged 85 and above (5.1%), but fewer residents aged 15-24 (11.0%). From the Census conducted on 28 August 2021, the proportion of residents aged 15-24 has grown from 8.4% to 11.0%. Conversely, the proportion of residents aged 25-34 has declined from 17.4% to 16.5%. By the year 2041, Waverley is expected to experience significant shifts in its age composition. The demographic shift will be led by the 85 and above group, which is projected to grow by 93%, adding 212 people and reaching a total of 441 residents from the previous figure of 228. The 0-4 age group is expected to grow at a more modest rate of 3%, with an increase of only 7 residents.