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, the estimated population of the suburb of Waverley (NSW) is around 4,489 people. This figure reflects an increase of 273 individuals since the 2021 Census, which reported a population of 4,216 people. The change was inferred from AreaSearch's estimation of the resident population at 4,351 following examination of the latest ERP data release by the ABS in June 2024, along with an additional 61 validated new addresses since the Census date. This results in a population density ratio of 7,481 persons per square kilometer, placing Waverley in the top 10% of national locations assessed by AreaSearch. The suburb's growth rate of 6.5% since the 2021 census exceeded that of the SA3 area at 6.0%, positioning it as a growth leader in the region. Overseas migration contributed approximately 89.0% of overall population gains during recent periods, driving primary growth for the area.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, released in 2024 with 2022 as the base year. For areas not covered by this data, AreaSearch utilises NSW State Government's SA2 level projections, released in 2022 with 2021 as the base year. Growth rates by age group from these aggregations are applied to all areas for years 2032 to 2041. Looking ahead, an above median population growth is projected for national statistical areas, with Waverley expected to grow by 865 persons to 2041 based on aggregated SA2-level projections, reflecting a gain of 19.0% 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 in Waverley shows around 10 dwellings receiving development approval annually over the past 5 financial years, totalling an estimated 50 homes. So far in FY26, 0 approvals have been recorded. This averages out to approximately 1.9 new residents per year arriving per new home between FY21 and FY25, suggesting a balanced supply and demand with stable market conditions. However, recent figures indicate an acceleration to 38.5 people per dwelling over the past 2 financial years, implying increasing demand and tightening supply. New homes are being built at an average expected construction cost of $777,000, indicating a focus on the premium segment by developers.

In terms of commercial development, $13.2 million in approvals have been registered this financial year, demonstrating moderate levels compared to Greater Sydney where Waverley shows approximately 75% of the construction activity per person. Nationally, Waverley places among the 11th percentile of areas assessed, suggesting limited buyer options while strengthening demand for established properties. All new construction in Waverley has been comprised of attached dwellings, reflecting a trend towards denser development to cater to downsizers, investors, and entry-level buyers. This marks a significant change from the current housing mix, which is currently 18.0% houses. The location has approximately 1471 people per dwelling approval, indicating an established market with population forecasts expecting Waverley to gain 854 residents through to 2041. If current construction levels persist, housing supply could potentially lag behind population growth, likely intensifying buyer competition and underpinning price growth.

Population forecasts indicate Waverley will gain 854 residents through to 2041 (from the latest AreaSearch quarterly estimate). Should current construction levels persist, housing supply could lag population growth, likely intensifying buyer competition and underpinning price growth.

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 projects expected to influence this region: Origami Bondi Junction and Sydney Light Rail Eastern Suburbs Extension. Other notable initiatives include Bondi Junction Vision and Master Plan, Bronte Collection. The following list details those most relevant: Origami Bondi Junction (expected completion 2021) Sydney Light Rail Eastern Suburbs Extension (scheduled for operation in 2024) Bondi Junction Vision and Master Plan (approved 2018) Bronte Collection (under construction, no completion date specified).

Professional plan users can use the search below to filter and access additional projects.

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

Waverley has an educated workforce. In the technology sector specifically, it stands out with a low unemployment rate of 2.2%. Over the past year, employment growth was estimated at 3.0%.

As of September 2025, 2,844 residents are employed, with an unemployment rate of 2.0%, below Greater Sydney's rate of 4.2%. Workforce participation is high at 79.9% compared to Greater Sydney's 70.0%. According to Census responses, 60.1% of residents work from home. Key industries include professional & technical, health care & social assistance, and finance & insurance.

Waverley specializes in professional & technical services with an employment share 1.7 times the regional level. Retail trade is under-represented at 5.5%, compared to Greater Sydney's 9.3%. The worker-resident ratio is 0.8, indicating ample local employment opportunities. Between September 2024 and September 2025, employment levels increased by 3.0% and labour force by 3.1%, keeping unemployment stable. In contrast, Greater Sydney's employment grew by 2.1% with a slight increase in unemployment. Jobs and Skills Australia forecasts national employment 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 grow by 7.5% over five years and 15.0% over ten years, though these are simple extrapolations for illustrative purposes only.

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

Waverley suburb has a median taxpayer income of $72,901 and an average income of $135,780 based on the latest postcode level ATO data aggregated by AreaSearch for financial year 2023. Nationally, this is exceptionally high compared to Greater Sydney's median income of $60,817 and average income of $83,003. As of September 2025, current estimates project the median income to be approximately $79,360 and the average income to be around $147,810, factoring in a Wage Price Index growth of 8.86% since financial year 2023. In Waverley, household, family, and personal incomes ranked highly between the 95th and 96th percentiles nationally according to 2021 Census figures. Income analysis shows 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 exhibits 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, yet strong earnings place disposable income at the 94th percentile. 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, consisted of 17.5% houses and 82.5% other dwellings (semi-detached, apartments, 'other' dwellings). In comparison, Sydney metro 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. The median weekly rent figure for 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, while 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 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 make up 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 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

Waverley's educational attainment exceeds national averages. Among residents aged 15 and above, 59.2% hold university qualifications, compared to Australia's 30.4% and NSW's 32.2%. This high level of attainment is led by bachelor degrees 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 notably 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, serving a mix of bus routes. These stops are used by 37 different routes, offering 6,895 weekly passenger trips in total. The average distance to the nearest stop for residents is 94 meters, indicating excellent transport accessibility. Most commuters travel outward from this predominantly residential area. Cars remain the primary mode of transport, used by 57% of residents. Train use stands at 12%, and walking accounts for 11%.

On average, there are 0.7 vehicles per dwelling, lower than the regional average. According to the 2021 Census, 60.1% of residents work from home, which may be influenced by COVID-19 conditions. The 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's health data shows positive results for its residents. Mortality rates and health conditions are largely aligned with national averages, despite a slightly higher prevalence of common health issues among 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 Greater Sydney's 59.9% and the national average of 55.7%.

Mental health issues and arthritis are the most prevalent conditions, affecting 7.0% and 6.4% of residents respectively. A significant portion, 74.6%, reports being free from medical ailments, similar to Greater Sydney's figure. The area has a higher proportion of seniors aged 65 and over at 17.6% (790 people), compared to Greater Sydney's 15.4%. While health outcomes for seniors present some challenges, they are generally better than those of the broader population nationally.

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 is more linguistically diverse than most local areas, with 18.5% speaking a language other than English at home. Born overseas, 38.5% of Waverley residents were born outside Australia. Christianity is the predominant religion in Waverley, comprising 45.8% of its population.

Notably, Judaism is overrepresented in Waverley, making up 6.9%, compared to Greater Sydney's average of 0.8%. In terms of ancestry, the top three groups are English (26.4%), Australian (17.3%), and Irish (11.8%). French, Russian, and Hungarian ethnicities are notably overrepresented in Waverley at 1.8%, 1.3%, and 0.8% respectively, compared to regional averages of 0.5%, 0.4%, and 0.3%.

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

The median age in Waverley is 38 years, close to Greater Sydney's average of 37 and equivalent to Australia's median of 38. Compared to Greater Sydney, Waverley has a higher percentage of residents aged 85 and above (5.0%) but fewer residents aged 65 to 74 (6.2%). Between the 2016 and 2021 censuses, the proportion of residents aged 15 to 24 increased from 8.4% to 11.3%, while the proportion of those aged 25 to 34 decreased from 17.4% to 15.5%. By 2041, Waverley's age composition is expected to change significantly. The number of residents aged 85 and above is projected to grow by 96%, from 224 to 439, while the 0 to 4 age group will experience a more modest growth of 2%, adding only 6 residents.