Waverley (Tas.)

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

Waverley (Tas.) has an estimated resident cohort of approximately 1,657 individuals as of May 2026, calculated using new address information validated by AreaSearch and updated population records from the ABS following the Census. This indicates an expansion of 74 residents (4.7%) from the 1,583 citizens documented during the 2021 Census. This adjustment stems from an Estimated Resident Population of 1,649 compiled by AreaSearch utilizing the ABS June 2025 release, combined with an extra 45 validated new addresses added after the Census. Consequently, the suburb of Waverley (Tas.) displays a density of 152 persons per square kilometer, which represents considerable space for residents and capacity for upcoming construction. The 4.7% expansion rate in the suburb of Waverley (Tas.) since the 2021 census was higher than the 2.6% recorded across the SA3 region, as well as the state average, positioning it as a local growth frontrunner. The main contributor to these population gains was overseas migration, which accounted for roughly 56.00000000000001% of the net growth, even though natural increase and interstate moves also remained positive.

Projections published in 2024 by the ABS and Geoscience Australia using 2022 as a baseline are utilized for each SA2 zone. Where such projections are unavailable, and to model demographic shifts by age beyond 2032, figures from the 2022 Tasmania State Government LGA and regional projections (using a 2021 base) are integrated via a weighted aggregation technique from LGA to SA2 divisions. Looking ahead, the suburb of Waverley (Tas.) is projected to experience expansion aligned with the lowest quartile of non-metropolitan Australian localities, adding 69 residents by 2041 under these consolidated SA2 models, translating to an overall growth rate of 3.7% across the 16 years.

Residential development activity is lower than average in Waverley according to AreaSearch's national comparison of local real estate markets

Evaluations of ABS building permit statistics mapped to local boundaries indicate that Waverley averages roughly 5 residential approvals annually, with a total of 27 residences approved throughout the 5 financial years from FY-21 to FY-25, and 16 recorded during the current FY-26. Given that an average of 2 people relocated to the suburb for each constructed home during the 5 financial years between FY-21 and FY-25, demand and supply appear balanced, reinforcing stable market dynamics, although this figure declined to -0.1 people per home over the past 2 financial years, reflecting a highly balanced supply environment. Approval values for construction projects average $458,000, illustrating a developer focus on high-end residential options. Furthermore, commercial building approvals worth $224,000 have been logged during the current financial year, highlighting the predominantly residential character of the suburb.

Waverley displays approximately three-quarters of the per capita construction volume observed in the Rest of Tas., placing it in the 67th percentile of all examined locations nationwide, despite building approvals accelerating recently. This rate sits under the national average, pointing to the mature state of the local area and potential regulatory constraints. Detached houses comprise 86.0% of recent approvals, while multi-unit or attached dwellings make up the remaining 14.0%, maintaining the low-density environment with a clear focus on single-family houses for buyers seeking space. An average of 206 individuals per approved dwelling highlights the low-density profile of the suburb.

Demographic projections indicate Waverley is set to add 61 residents by 2041, based on the latest quarterly calculations from AreaSearch. The current pace of home building suggests that upcoming supply will easily satisfy demand, maintaining favorable conditions for prospective purchasers and potentially allowing for growth exceeding the current demographic forecasts.

Waverley has emerging levels of nearby infrastructure activity, ranking in the 29thth percentile nationally

Local planning decisions, infrastructure investment, and major capital works have a substantial impact on neighborhood growth. AreaSearch has identified 2 active projects expected to influence the local area. Key developments include the Northern Heart Centre, the Ravenswood Subdivision, the 38A Faulkner Road Rural Living Rezoning and Subdivision, and the University of Tasmania Launceston campus Inveresk, with specific details provided below for the most significant projects.

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

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Employment conditions in Waverley face significant challenges, ranking among the bottom 10% of areas assessed nationally

The local workforce consists of a diverse mix of administrative and industrial workers across multiple sectors, with an unemployment rate of 9.8% according to statistical aggregations from AreaSearch. As of March 2026691 local residents are employed, which leaves the unemployment rate 5.8% higher than the Regional Tas. rate of 3.9%, highlighting an area for economic improvement, while labor force participation is aligned with the regional rate of 58.8%. Census data indicates that a minimal 2.2% of the working population operated from home, though this figure may reflect the influence of pandemic lockdowns.

Local workers are predominantly employed within construction, healthcare and social assistance, and retail trade. Retail trade stands out as a key area of local specialization, employing residents at a rate 1.4 times that of the broader region. Conversely, agriculture, forestry and fishing accounts for only 3.3% of the workforce, which is lower than the Regional Tas. share of 8.4%. Comparing the size of the resident workforce with the local job count suggests that immediate local employment options are relatively scarce.

Analysis of SALM and ABS data by AreaSearch indicates that labour force participation dropped 3.3% while employment fell 3.5% during the 12 months to March 2026, which caused the unemployment rate to climb by 0.2 percentage points. In contrast, Regional Tas. experienced a 1.8% increase in employment and a 1.7% expansion of the labour force, accompanied by a slight decline in unemployment. Jobs and Skills Australia published national employment forecasts from May-25 that provide context for anticipating future demand in Waverley. These projections span five and ten year horizons and have been overlaid on the local employment structure to gauge potential growth trajectories. Nationally, employment is projected to grow by 6.6% over five years and 13.7% over ten years, though sectoral growth varies considerably. When these industry specific forecasts are applied to Waverley's existing employment mix, local employment is expected to rise by 6.1% over five years and 12.8% over ten years, keeping in mind that this represents a straightforward weighting extrapolation for illustrative purposes and excludes localized population projections.

Income metrics place the area in the bottom 10% of locations nationally according to AreaSearch analysis

According to the latest postcode-level ATO data released for the 2023 financial year, taxpayers in the suburb of Waverley have a median income of $39,529 and an average income of $49,715. This is lower than the country-wide average and compares to a median of $49,689 and an average of $59,358 across Regional Tas. Applying the Wage Price Index growth of 10.95% recorded since the 2023 financial year yields estimated figures of approximately $43,857 for the median and $55,159 for the average as of March 2026. Data from the 2021 Census places household, personal, and family incomes in the suburb within the 3rd to 8th percentiles nationally. The most common earnings bracket is the $800 - 1,499 range, which accounts for 33.4% of the population (representing 553 individuals), whereas the wider region sees 28.5% of earners in the $1,500 - 2,999 bracket. Affordability metrics show significant strain on households, with only 84.1% of income remaining after housing costs, ranking in the 5th percentile.

Waverley is characterized by a predominantly suburban housing profile, with a higher proportion of rental properties than the broader region

According to the last Census, the housing mix in Waverley was composed of 84.0% detached houses and 16.0% alternative structures such as townhouses, apartments, or other residences, compared to 89.9% detached houses and 10.1% alternative structures in Regional Tas. Fully owned properties comprised 27.4% of homes, below the regional average, while mortgaged homes accounted for 33.0% and rental properties made up 39.6%. The typical monthly mortgage payment was $867, which sits well below the regional average, while the median weekly rental cost was $237, compared to regional benchmarks of $1,274 and $250. On a national level, mortgage commitments are much lower than the Australian average of $1,863, and rents are similarly below the national median of $375.

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

Families make up the majority of local households at 64.2%, which is divided into single-parent households at 21.2%, couples without children at 20.4%, and couples with children at 20.2%. The remaining 35.8% consists of non-family living arrangements, with lone person households representing 31.5% and group share houses making up 3.3%. The typical household contains 2.3 individuals, aligning with the regional average.

Waverley faces educational challenges, with performance metrics placing it in the bottom quartile of areas assessed nationally

The suburb exhibits lower levels of tertiary education, with university graduation rates at 7.2% compared to the national average of 30.4%, presenting a clear opportunity for targeted educational support. Bachelor degrees are the most common higher education qualification at 4.8%, with postgraduate degrees at 1.9% and graduate diplomas at 0.5%. Vocational and technical qualifications are highly prevalent, with 36.9% of residents aged 15 and over possessing trade credentials, consisting of advanced diplomas at 5.3% and certificates at 31.6%.

A significant proportion of the population is engaged in study, with 28.0% of residents enrolled in an educational institution. This group includes 11.8% in primary school, 7.7% in high school, and 2.9% studying at a tertiary level.

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

There are 12 active public transit stops within Waverley, consisting of bus services. These stops support 47 different routes, which handle a combined total of 3,501 passenger trips every week. Access to transit is highly rated, with typical resident dwellings positioned 168 meters from the nearest stop. The suburb is mostly residential, meaning the majority of workers travel outside the area for employment, with private cars remaining the primary travel mode at 94%. Households own an average of 1.3 cars, which is below the regional average. A small proportion of 2.2% of residents work from home, based on 2021 Census statistics that may reflect pandemic restrictions.

Routes average a frequency of 500 trips per day, which translates to roughly 291 weekly departures from each individual stop.

Health performance in Waverley is a key challenge with a range of health conditions having marked impacts on both younger and older age cohorts

Health assessments indicate notable wellness challenges in Waverley, reflected in mortality patterns and the prevalence of long-term medical conditions across different age groups, with private health insurance coverage sitting at a low level of approximately 47% of the community (representing roughly 776 individuals). This compares to 49.1% of residents across Regional Tas. and a national average of 55.7%.

Asthma and mental health issues are the most widely reported medical conditions, affecting 11.5% and 13.2% of the population, respectively. Meanwhile, 58.0% of residents reported having no chronic health conditions, compared to 62.0% in Regional Tas. The local working-age cohort experiences significant health pressures, with elevated rates of long-term ailments. Residents aged 65 and over make up 14.3% of the community (representing 236 people), which is lower than the Regional Tas. proportion of 24.9%, though senior health indicators show challenges that rank higher than general population benchmarks.

The latest Census data sees Waverley placing among the least culturally diverse areas in the country when compared across a range of language and cultural background related metrics

The demographic profile reveals low levels of cultural diversity, with citizens making up 91.7% of the community, 94.9% born locally in Australia, and 98.4% speaking only English in their households. Christianity is the primary religious affiliation, accounting for 33.6% of residents. The most distinct variance is found in the Other category, which represents 0.6% of the population, compared to 0.7% throughout Regional Tas.

In terms of ancestral background, the three most common heritages are Australian at 38.5% (higher than the regional average of 32.6%), English at 35.4%, and Irish at 5.8%. There are also distinct differences in several other ethnic backgrounds, with Dutch ancestry represented at 2.0% (compared to 1.7% regionally), Aboriginal ancestry at 5.1% (compared to 4.1% regionally), and Russian ancestry at 0.4% (compared to 0.1% regionally).

Waverley's population is younger than the national pattern

The median age of 35 in Waverley is much lower than the Regional Tas. median of 45, and slightly below the nationwide average of 38. Young adults aged 25 - 34 are especially well represented at 16.6%, while seniors in the 65 - 74 bracket are less common (8.5%) than in the broader region. Since 2021, the 35 to 44 age cohort has increased from 13.2% to 15.0% of the population. Projections to 2041 indicate notable shifts, with the 45 to 54 cohort expected to grow by 65 people (37%), rising from 177 to 243, while the 0 to 4 and 55 to 64 age brackets are projected to shrink.