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

As of Feb 2026, AreaSearch estimates the population of the suburb of Waverley (NSW) to be around 4,489. This reflects a growth of 273 people since the 2021 Census, which reported a population of 4,216. The change is inferred from an estimated resident population of 4,351 in Jun 2024 and additional validated new addresses since the Census date. This results in a population density ratio of 7,481 persons per square kilometer, placing Waverley among the top 10% of national locations assessed by AreaSearch. The suburb's growth rate of 6.5% since the 2021 Census exceeded that of its SA3 area at 6.0%. Overseas migration contributed approximately 89.0% of overall population gains during recent periods.

For projections, AreaSearch adopts ABS/Geoscience Australia aggregations released in 2024 with a base year of 2022 for covered areas and NSW State Government's SA2-level projections released in 2022 with a base year of 2021 for uncovered areas. Growth rates by age group are applied to all areas from 2032 to 2041. According to these projections, the suburb is expected to grow by 830 persons to 2041, reflecting an overall gain of 15.4% 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

Based on AreaSearch analysis, Waverley has received approximately 10 dwelling approvals annually over the past five financial years, totalling around 50 homes. No approvals have been recorded so far in FY-26. On average, 1.9 new residents arrived per new home built between FY-21 and FY-25, indicating balanced supply and demand. However, this has increased to 39.2 people per dwelling over the past two financial years, suggesting growing demand. New homes are being constructed at an average cost of $777,000, focusing on the premium segment.

This year, $13.2 million in commercial approvals have been registered. Compared to Greater Sydney, Waverley shows about 75% of construction activity per person and ranks among the 11th percentile nationally, suggesting limited buyer options but strong demand for established properties. All new constructions since FY-21 have been attached dwellings, appealing to downsizers, investors, and entry-level buyers. This shift reflects reduced development sites and changing lifestyle demands. Waverley has around 1470 people per dwelling approval, indicating an established market. By 2041, the population is forecasted to grow by 692 residents.

If current construction levels continue, housing supply may lag behind population growth, potentially intensifying buyer competition and supporting price increases.

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

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified two major projects that could affect this region: Origami Bondi Junction and Sydney Light Rail Eastern Suburbs Extension. Other notable projects include Bondi Junction Vision and Master Plan, Bronte Collection. The following details the projects likely to have the most relevance.

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 strength in Waverley positions it well ahead of most Australian regions

Waverley has an educated workforce. In the technology sector, representation is high with an unemployment rate of 2.1%. Over the past year, estimated employment growth was 3.3%, according to AreaSearch's aggregation of statistical area data.

As of December 2025, 2,863 residents are employed while the unemployment rate is 2.1% lower than Greater Sydney's rate of 4.2%. Workforce participation in Waverley is high at 79.8%, compared to Greater Sydney's 70.2%. According to Census responses, 60.1% of residents work from home, though Covid-19 lockdown impacts should be considered. Key industries for employment among residents are professional & technical, health care & social assistance, and finance & insurance.

Waverley shows strong specialization in professional & technical services with an employment share 1.7 times the regional level. Retail trade is under-represented, with only 5.5% of Waverley's workforce compared to Greater Sydney's 9.3%. The ratio of 0.8 workers per resident indicates a high level of local employment opportunities. In the year to December 2025, employment levels increased by 3.3% and labour force grew by 3.4%, keeping unemployment broadly flat. In contrast, Greater Sydney experienced employment growth of 2.2% and labour force growth of 2.3%. Jobs and Skills Australia's national employment forecasts from May-25 project a 6.6% increase over five years and 13.7% over ten years. Applying these projections to Waverley's employment mix suggests local employment should increase by 7.5% over five years and 15.0% over ten years, though this is a simple extrapolation for illustrative purposes and does not account for localized population projections.

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

The suburb of Waverley has a median taxpayer income of $72,901 and an average income of $135,780 according to the latest postcode level ATO data aggregated by AreaSearch for the financial year 2023. This is exceptionally high nationally, contrasting with 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, current estimates would be approximately $79,360 (median) and $147,810 (average) as of September 2025. According to the 2021 Census figures, household, family and personal incomes in Waverley rank highly nationally, between the 95th and 96th percentiles. Income analysis reveals that the $4000+ bracket dominates with 36.4% of residents (1,633 people), contrasting with regional levels where the $1,500 - 2,999 bracket leads at 30.9%. Waverley demonstrates considerable affluence with 48.4% earning over $3,000 per week, supporting premium retail and service offerings. High housing costs consume 19.1% of income, though strong earnings still 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 a higher proportion of rental properties than the broader region

Waverley's dwelling structure, as per the latest Census, had 17.5% houses and 82.5% other dwellings (semi-detached, apartments, 'other' dwellings). Sydney metro, in comparison, had 55.9% houses and 44.1% 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 in the area was $3,731, higher than Sydney metro's average of $2,427. Median weekly rent in Waverley was recorded at $630, compared to Sydney metro's $470. Nationally, Waverley's mortgage repayments were significantly higher than 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 lower-than-average median household size

Family households constitute 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 account for 37.7%, with lone person households at 31.5% and group households comprising 6.1%. The median household size is 2.3 people, which is smaller than the Greater Sydney average of 2.7.

Waverley demonstrates exceptional educational outcomes, ranking among the top 5% of areas nationally based on AreaSearch's comprehensive analysis of qualification and performance metrics

In Waverley, educational attainment is notably high with 59.2% of residents aged 15 and above holding university qualifications. This figure exceeds the national average of 30.4% and the NSW average of 32.2%. The area's strong educational advantage can be attributed to a significant proportion of residents possessing bachelor degrees (38.9%), postgraduate qualifications (16.6%), and graduate diplomas (3.7%). Vocational pathways are also well-represented, with advanced diplomas accounting for 10.2% and certificates for 10.6% among those aged 15 and above.

Educational participation is particularly high in the area, 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 serving a mix of bus routes. These stops are served by 37 individual routes that facilitate 6,895 weekly passenger trips in total. The area's transport accessibility is rated as excellent, with residents typically located 94 meters from the nearest stop. Most residents commute outward due to Waverley being primarily residential. Car remains the dominant mode of transportation at 57%, followed by train at 12% and walking at 11%. Vehicle ownership averages 0.7 per dwelling, which is below the regional average.

According to the 2021 Census, a high 60.1% of residents work from home, potentially due to COVID-19 conditions. Service frequency averages 985 trips per day across all routes, equating 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 have shown relatively positive health outcomes, according to AreaSearch's analysis. Mortality rates and health conditions are broadly in line with national benchmarks. The prevalence of common health conditions is quite low among the general population but higher than the national average for older, at-risk cohorts.

Private health cover is exceptionally high in Waverley, with approximately 80% of the total population (3,606 people) having it, compared to 59.9% across Greater Sydney and a national average of 55.7%. Mental health issues and arthritis are the most common medical conditions in the area, affecting 7.0% and 6.4% of residents respectively. 74.6% of residents declare themselves completely clear of medical ailments, similar to the 74.6% across Greater Sydney. Waverley has 18.0% of residents aged 65 and over (808 people), which is higher than the 15.4% in Greater Sydney. Health outcomes among seniors present some challenges but rank lower nationally than those for 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, as of the 2016 Census, showed higher linguistic diversity with 18.5% speaking a language other than English at home compared to most local areas. Born overseas, 38.5% of Waverley residents were recorded. Christianity was the predominant religion, accounting for 45.8%.

Notably, Judaism was overrepresented at 6.9%, significantly higher than Greater Sydney's average of 0.8%. Regarding ancestry, English (26.4%) and Australian (17.3%) groups were prominent, both exceeding regional averages of 19.0% and 6.1% respectively. Irish ancestry was also significant at 11.8%, higher than the regional average of 6.1%. Other notable ethnic group representations included French (1.8%), Russian (1.3%), and Hungarian (0.8%), all exceeding their respective regional averages.

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. Compared to Greater Sydney, Waverley has a higher percentage of residents aged 85 and above (5.1%) but fewer residents aged 65 to 74 (6.4%). Between the censuses of 2016 and 2021, the population aged 15 to 24 grew from 8.4% to 11.4%. Conversely, the population aged 25 to 34 decreased from 17.4% to 15.3%. By the year 2041, Waverley's age composition is expected to change significantly. The number of residents aged 85 and above is projected to grow by 86%, reaching 426 from 228. The population aged 65 and above will comprise 55% of the total growth. The population aged 0 to 4 years, however, is expected to remain unchanged with no additional residents.