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

Mount Waverley - North's population is approximately 17,539 as of May 2026. This figure represents an increase of 1,466 people since the 2021 Census, which recorded a population of 16,073. The growth was inferred from ABS estimates; Mount Waverley - North had an estimated resident population of 17,492 in June 2025 and gained 269 validated new addresses since the Census date. This results in a population density of 2,706 persons per square kilometer, placing it among the higher quartile nationally according to AreaSearch's assessments. Mount Waverley - North's growth rate of 9.1% since the census is close to Victoria's state average of 9.3%, indicating strong growth fundamentals. Overseas migration contributed approximately 94.5% of overall population gains in recent periods.

AreaSearch uses ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered by this data, AreaSearch employs the VIC State Government's Regional/LGA projections from 2023, adjusted using weighted aggregation methods to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Based on these projections, Mount Waverley - North is expected to have an above median population growth nationally, increasing by 3,272 persons to reach a total of 20,811 by 2041, reflecting an 18.4% increase over the 16-year period.

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

Mount Waverley - North averaged approximately 125 new dwelling approvals per year over the past five financial years, from FY-21 to FY-25. A total of 625 homes were approved during this period, with an additional 100 approved in FY-26 up until present. On average, 1.2 people moved to the area for each dwelling built over these five years, indicating a balanced supply and demand dynamic. However, recent data shows an intensification of this ratio to 4.5 people per dwelling over the past two financial years, suggesting growing popularity and potential undersupply.

The average expected construction cost value of new properties is $623,000, reflecting developers' focus on the premium market with high-end developments. In FY-26 alone, $4.4 million in commercial development approvals have been recorded, indicating the area's residential character. Compared to Greater Melbourne, Mount Waverley - North shows moderately higher new home approvals, averaging 43.0% above the regional average per person over the five-year period. This balance supports buyer choice while maintaining current property values, although building activity has slowed in recent years. Recent construction comprises 49.0% standalone homes and 51.0% townhouses or apartments, representing a shift from the area's existing housing composition of 72.0% houses.

This change indicates decreasing availability of developable sites and reflects evolving lifestyles and demand for more diverse, affordable housing options. The location currently has approximately 169 people per dwelling approval, suggesting an expanding market. According to the latest AreaSearch quarterly estimate, Mount Waverley - North is expected to grow by 3,225 residents through to 2041. Current development appears well-matched to future needs, supporting steady market conditions without extreme price pressure.

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

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified 16 projects that may affect this region. Notable initiatives include the industrial development at 151-161 Forster Road, the upgrade and modernisation of Mount Waverley North Primary School, the implementation of the East Burwood Reserve Master Plan, and the structure plan for Mount Waverley Activity Centre. The following list details those projects most likely to have relevance.

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

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Employment conditions in Mount Waverley - North rank among the top 10% of areas assessed nationally

Mount Waverley - North has a highly educated workforce with professional services well represented. Its unemployment rate was 1.5% as of December 2025, lower than Greater Melbourne's 4.8%. Employment growth over the past year was estimated at 4.7%.

There were 9,517 residents in work with an unemployment rate of 3.3%, below Greater Melbourne's rate. Workforce participation was 65.9%, slightly below Greater Melbourne's 69.9%. Census responses showed 41.1% of residents worked from home, potentially influenced by Covid-19 lockdowns. Leading employment industries were professional & technical, health care & social assistance, and retail trade.

Professional & technical services had particularly high concentration with employment levels at 1.4 times the regional average. Construction employed just 6.4% of local workers compared to Greater Melbourne's 9.7%. The area appeared to offer limited local employment opportunities based on Census data. Over a 12-month period, employment increased by 4.7% while labour force grew by 4.8%, keeping unemployment broadly flat. In comparison, Greater Melbourne recorded employment growth of 2.4% with unemployment rising slightly. Jobs and Skills Australia's national employment forecasts from May-25 suggest potential future demand within Mount Waverley - North. National employment is forecast to expand by 6.6% over five years and 13.7% over ten years, but growth rates vary significantly between industry sectors. Applying these 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, though this is a simple extrapolation for illustrative purposes and does not account for localised population projections.

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

AreaSearch's aggregation of latest postcode level ATO data released for financial year ending June 2023 shows Mount Waverley - North SA2 had median taxpayer income of $54,739 and average income of $75,402. Nationally, these figures were lower at $51,688 (median) and $72,044 (average). In Greater Melbourne, the respective figures were $57,688 and $75,164. Applying Wage Price Index growth of 9.62% since June 2023, estimated median income as of March 2026 is approximately $60,005, with average income at around $82,656. According to Australian Bureau of Statistics Census data from 2021, Mount Waverley - North's household income ranks at the 68th percentile ($2,049 weekly), while personal income ranks at the 49th percentile. The largest income bracket comprises 28.5% earning $1,500 to $2,999 weekly (4,998 residents). Higher earners represent a significant portion, with 32.7% exceeding $3,000 weekly. Housing costs consume 15.2% of income, but strong earnings place disposable income at the 70th percentile. The area's SEIFA income ranking places it in the 8th decile.

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

Mount Waverley - North's dwelling structure, as per the latest Census, consisted of 71.9% houses and 28.2% other dwellings (semi-detached, apartments, 'other' dwellings), compared to Melbourne metro's 67.9% houses and 32.1% other dwellings. Home ownership in Mount Waverley - North stood at 43.2%, with the rest being mortgaged (31.9%) or rented (24.9%). The median monthly mortgage repayment was $2,600, higher than Melbourne metro's average of $2,000. Median weekly rent in Mount Waverley - North was $485, compared to Melbourne metro's $390. Nationally, the area's mortgage repayments were significantly higher at $2,600 versus Australia's average of $1,863, and rents were 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 constitute 77.8 percent of all households, including 41.4 percent couples with children, 24.2 percent couples without children, and 10.9 percent single parent families. Non-family households comprise the remaining 22.2 percent, with lone person households at 18.8 percent and group households making up 3.4 percent of the total. The median household size is 2.8 people, which 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

In Mount Waverley - North, the proportion of residents aged 15 and above with university qualifications is 49.5%, which exceeds both the SA4 region's 29.8% and Australia's 30.4%. This high educational attainment indicates a strong potential for knowledge-based opportunities in the area. Bachelor degrees are the most prevalent 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 and above, with advanced diplomas comprising 10.5% and certificates making up 10.0%.

Educational participation is notably high in the area, 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

Mount Waverley - North has 54 active public transport stops, all of which are bus stops. These stops are serviced by six different routes that collectively facilitate 3,038 weekly passenger trips. The area's transport accessibility is rated as good, with residents typically located approximately 299 meters from the nearest transport stop. As a predominantly residential area, most residents commute outward. Cars remain the primary mode of transportation for 85% of residents, while 9% use trains. On average, there are 1.4 vehicles per dwelling in the area.

According to the 2021 Census, 41.1% of residents work from home, which may be influenced by COVID-19 conditions. The 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

Mount Waverley - North shows excellent health outcomes according to AreaSearch's assessment of mortality rates and chronic condition prevalence.

The area has a very low prevalence of common health conditions across all age groups. Approximately 57% (~9,927 people) have private health cover, which is higher than the Greater Melbourne average. The most prevalent medical conditions are arthritis (6.1%) and asthma (5.9%). Around 75.5% of residents claim to be free from medical ailments compared to 72.6% in Greater Melbourne. The area has a higher proportion of seniors aged 65 and over, at 18.3% (3,216 people), compared to the Greater Melbourne average of 15%. Although health outcomes among seniors are strong, they rank lower nationally than those of 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 has significant cultural diversity, with 52.5% of residents speaking a language other than English at home and 51.0% born overseas. Christianity is the predominant religion in Mount Waverley - North, accounting for 38.7%. Notably, Buddhism is more prevalent here at 7.9%, compared to Greater Melbourne's average of 4.2%.

The top three ancestry groups are Chinese (24.6%), English (15.0%), and Australian (12.5%). While the Chinese population is substantially higher than the regional average of 6.5%, English and Australian populations are notably lower than their respective averages of 20.1% and 18.4%. There are also notable overrepresentations of Sri Lankan (2.2%), Greek (4.7%), and Korean (1.5%) residents compared to regional averages.

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

Mount Waverley - North has a median age of 40, which is higher than Greater Melbourne's figure of 37 and Australia's median age of 38. The 15-24 age group is over-represented in Mount Waverley - North at 15.6%, compared to the Greater Melbourne average, while the 25-34 age group is under-represented at 12.1%. Between 2021 and present, the percentage of the population aged 15 to 24 has increased from 14.1% to 15.6%, while the 45 to 54 age cohort has decreased from 13.6% to 12.8%. By 2041, demographic modeling projects significant changes in Mount Waverley - North's age profile. The 45-54 age group is expected to expand by 656 people (29%), growing from 2,243 to 2,900. Meanwhile, the 0-4 age cohort is projected to grow by a modest 7%, an increase of 46 people.