Mount Waverley - North

Mount Waverley - North has seen population growth performance typically on par with national averages when looking at short and medium term trends

Based on AreaSearch's analysis, Mount Waverley - North's population is around 17,740 as of Feb 2026. This reflects an increase of 1,667 people (10.4%) since the 2021 Census, which reported a population of 16,073 people. The change is inferred from the estimated resident population of 17,214 from the ABS as of June 2024 and an additional 242 validated new addresses since the Census date. This population level equates to a density ratio of 2,737 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. Mount Waverley - North's 10.4% growth since the 2021 census exceeded the national average (9.9%), marking it as a growth leader in the region. Population growth for the area was primarily driven by overseas migration, which contributed approximately 94.5% 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, AreaSearch is utilising the VIC State Government's Regional/LGA projections released in 2023 with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations are also applied across all areas for years 2032 to 2041. Considering the projected demographic shifts, an above-median population growth relative to national areas is projected, with the area expected to expand by 3,537 persons by 2041 based on the latest annual ERP population numbers, reflecting an increase of 17.0% in total over the 17 years.

AreaSearch assessment of residential approval activity sees Mount Waverley - North among the top 30% of areas assessed nationwide

Mount Waverley - North has averaged around 125 new dwelling approvals per year, totalling 625 homes over the past 5 financial years. So far in FY-26, 75 approvals have been recorded. With an average of 1.2 people per year moving to the area for each dwelling built over the past 5 financial years (between FY-21 and FY-25), supply and demand appear well-balanced, creating stable market conditions, though recent data reveals this has increased to 4.5 people per dwelling over the past 2 financial years, reflecting the area's growing popularity and potential supply constraints. New homes are being built at an average construction cost of $623,000, demonstrating a developer focus on the premium segment with upmarket properties. Additionally, $4.4 million in commercial development approvals have been recorded this financial year, demonstrating the area's primarily residential nature.

Compared to Greater Melbourne, Mount Waverley - North has slightly more development (43.0% above regional average per person over the 5 year period), maintaining good buyer choice while supporting existing property values. New building activity shows 49.0% detached dwellings and 51.0% attached dwellings. This skew toward compact living offers affordable entry pathways and attracts downsizers, investors, and first-time purchasers. This shows a considerable change from the current housing mix (currently 72.0% houses), reflecting reduced availability of development sites and addressing shifting lifestyle demands and affordability requirements. With around 169 people per dwelling approval, Mount Waverley - North shows characteristics of a growth area.

Population forecasts indicate Mount Waverley - North will gain 3,011 residents through to 2041 (from the latest AreaSearch quarterly estimate). Based on current development patterns, new housing supply should readily meet demand, offering good conditions for buyers and potentially facilitating population growth beyond current projections.

Mount Waverley - North has moderate levels of nearby infrastructure activity, ranking in the top 50% nationally

Nothing can influence an area's performance as much as changes to local infrastructure, major projects, and planning initiatives. In total, 17 projects have been identified by AreaSearch that are likely to have an impact on the area. Key projects include 151-161 Forster Road Industrial Development, Mount Waverley North Primary School Upgrade and Modernisation, East Burwood Reserve Master Plan Implementation, and Mount Waverley Activity Centre Structure Plan, with the list below detailing those likely to be of most relevance.

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

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The exceptional employment performance in Mount Waverley - North places it among Australia's strongest labour markets

Mount Waverley - North has a highly educated workforce, with professional services showing strong representation, an unemployment rate of just 1.5%, and 4.7% in estimated employment growth over the past year. As of December 2025, 9,517 residents are in work while the unemployment rate is 3.3% below Greater Melbourne's rate of 4.8%, and workforce participation is somewhat below standard (67.1% compared to Greater Melbourne's 71.3%). Based on Census responses, a high 41.1% of residents were found to work from home, though Covid-19 lockdown impacts should be considered.

Leading employment industries among residents comprise professional & technical, health care & social assistance, and retail trade. The area shows particularly strong specialization in professional & technical, with an employment share of 1.4 times the regional level. Meanwhile, construction has a limited presence with 6.4% employment compared to 9.7% regionally. The predominantly residential area appears to offer limited employment opportunities locally, as indicated by the count of Census working population vs resident population.

Based on AreaSearch analysis of SALM and ABS data, over the 12 months to December 2025, employment increased by 4.7% while the labour force increased by 4.8%, keeping the unemployment rate relatively stable. This contrasts with Greater Melbourne, where employment rose by 2.4%, the labour force grew by 2.8%, and unemployment rose 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 can offer further insight into potential future demand within Mount Waverley - North. These projections, covering five and ten-year periods, have been mapped against the local employment profile to estimate growth patterns. While national employment is forecast to expand by 6.6% over five years and 13.7% over ten years, growth rates differ significantly between industry sectors. Applying these industry-specific projections to Mount Waverley - North's employment mix suggests local employment should increase by 6.9% over five years and 14.1% over ten years (please note this is a simple weighting extrapolation for illustrative purposes and does not take into account localised population projections).

Income analysis reveals strong economic positioning, with the area outperforming 60% of locations assessed nationally by AreaSearch

The Mount Waverley - North SA2's income level is very high nationally according to the latest ATO data aggregated by AreaSearch for FY-23. The Mount Waverley - North SA2's median income among taxpayers is $54,739 and the average income stands at $75,402, which compares to figures for Greater Melbourne's of $57,688 and $75,164 respectively. Based on Wage Price Index growth of 8.25% since FY-23, current estimates would be approximately $59,255 (median) and $81,623 (average) as of September 2025. Census data reveals household income ranks at the 68th percentile ($2,049 weekly), while personal income sits at the 49th percentile. Income analysis reveals the predominant cohort spans 28.5% of locals (5,055 people) in the $1,500 - 2,999 category, reflecting patterns seen at regional levels where 32.8% similarly occupy this range. Higher earners represent a substantial presence with 32.7% exceeding $3,000 weekly, indicating strong purchasing power within the community. High housing costs consume 15.2% of income, though strong earnings still place disposable income at the 70th percentile and the area's SEIFA income ranking places it in the 9th decile.

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

Dwelling structure within Mount Waverley - North, as evaluated at the latest Census, comprised 71.9% houses and 28.2% other dwellings (semi-detached, apartments, 'other' dwellings), in comparison to Melbourne metro's 67.9% houses and 32.1% other dwellings. Meanwhile, the level of home ownership within Mount Waverley - North was well beyond that of Melbourne metro, at 43.2%, with the remainder of dwellings either mortgaged (31.9%) or rented (24.9%). The median monthly mortgage repayment in the area was well above the Melbourne metro average at $2,600, while the median weekly rent figure was recorded at $485, compared to Melbourne metro's $2,000 and $390. Nationally, Mount Waverley - North's mortgage repayments are significantly higher than the Australian average of $1,863, while rents are substantially above the national figure of $375.

Mount Waverley - North features high concentrations of family households, with a higher-than-average median household size

Family households dominate at 77.8% of all households, comprising 41.4% couples with children, 24.2% couples without children, and 10.9% single parent families. Non-family households make up the remaining 22.2%, with lone person households at 18.8% and group households comprising 3.4% of the total. The median household size of 2.8 people is larger than the Greater Melbourne average of 2.6.

Educational achievement in Mount Waverley - North places it within the top 10% nationally, reflecting strong academic performance and high qualification levels across the community

Educational attainment in Mount Waverley - North significantly surpasses broader benchmarks, with 49.5% of residents aged 15+ holding university qualifications compared to 29.8% in the SA4 region and 30.4% in Australia. This substantial educational advantage positions the area strongly for knowledge-based opportunities. Bachelor degrees lead at 29.6%, followed by postgraduate qualifications (16.1%) and graduate diplomas (3.8%). Vocational pathways account for 20.5% of qualifications among those aged 15+ – advanced diplomas (10.5%) and certificates (10.0%).

Educational participation is notably high, with 31.9% of residents currently enrolled in formal education. This includes 9.1% in primary education, 8.9% in secondary education, and 8.3% pursuing tertiary education.

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

Public transport analysis reveals 54 active transport stops operating within Mount Waverley - North, comprising a mix of buses. These stops are serviced by 6 individual routes, collectively providing 3,038 weekly passenger trips. Transport accessibility is rated as good, with residents typically located 299 meters from the nearest transport stop. As a primarily residential area, most residents commute outward; the car remains the dominant mode at 85%, with 9% by train. Vehicle ownership averages 1.4 per dwelling. A high 41.1% of residents work from home (2021 Census; may reflect COVID-19 conditions).

Service frequency averages 434 trips per day across all routes, equating to approximately 56 weekly trips per individual stop.

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

Health outcomes data demonstrates outstanding results across Mount Waverley - North, based on AreaSearch's assessment of mortality rates and chronic condition prevalence. There is a very low prevalence of common health conditions across all age groups, and the rate of private health cover is very high at approximately 57% of the total population (~10,040 people).

The most common medical conditions in the area were found to be arthritis and asthma, impacting 6.1 and 5.9% of residents, respectively, while 75.5% declared themselves as completely clear of medical ailments compared to 72.6% across Greater Melbourne. The area has 18.7% of residents aged 65 and over (3,317 people), which is higher than the 15.1% in Greater Melbourne. Health outcomes among seniors are particularly strong, though ranking lower nationally than the broader population.

Mount Waverley - North is among the most culturally diverse areas in the country based on AreaSearch assessment of a range of language and cultural background related metrics

Mount Waverley - North is among the most culturally diverse areas in the country, with 52.5% of its population speaking a language other than English at home and 51.0% born overseas. The main religion in Mount Waverley - North is Christianity, which makes up 38.7% of the population. However, the most apparent overrepresentation is in Buddhism, which comprises 7.9% of the population, compared to 4.2% across Greater Melbourne.

In terms of ancestry (country of birth of parents), the top three represented groups in Mount Waverley - North are Chinese, comprising 24.6% of the population, which is substantially higher than the regional average of 6.5%, English, comprising 15.0% of the population, which is notably lower than the regional average of 20.1%, and Australian, comprising 12.5% of the population, which is notably lower than the regional average of 18.4%. Additionally, there are notable divergences in the representation of certain other ethnic groups: Sri Lankan is notably overrepresented at 2.2% of Mount Waverley - North (vs 0.8% regionally), Greek at 4.7% (vs 2.7%) and Korean at 1.5% (vs 0.3%).

Mount Waverley - North's population is slightly older than the national pattern

With a median age of 40, Mount Waverley - North is somewhat higher than the Greater Melbourne figure of 37 and similarly marginally higher than Australia's 38 years. Compared to the Greater Melbourne average, the 15 - 24 cohort is notably over-represented (15.9% locally), while 25 - 34 year-olds are under-represented (11.2%). In the period since 2021, the 15 to 24 age group has grown from 14.1% to 15.9% of the population. Conversely, the 45 to 54 cohort has declined from 13.6% to 12.8%. Demographic modeling suggests Mount Waverley - North's age profile will evolve significantly by 2041. The 45 to 54 age cohort is projected to see notable expansion, increasing by 629 people (28%) from 2,270 to 2,900. Meanwhile, the 0 to 4 cohort grows by a modest 6% (39 people).