Mount Waverley - North
Statistical Area - sa2

Population growth drivers in Mount Waverley - North are strong compared to national averages based on AreaSearch's ranking of recent, and medium to long-term trends

Mount Waverley - North's population is approximately 17,583 as of August 2025. This represents an increase of 1,510 people since the 2021 Census, which reported a population of 16,073. The growth is inferred from the estimated resident population of 17,214 in June 2024 and an additional 241 validated new addresses since the Census date. This results in a population density ratio of 2,713 persons per square kilometer, placing it in the upper quartile nationally according to AreaSearch's assessments. Mount Waverley - North's growth rate of 9.4% since the 2021 census exceeds the national average of 8.6%, indicating its status as a growth leader. Overseas migration contributed approximately 94.5% of overall population gains during recent periods in this area.

AreaSearch is using 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 utilises the VIC State Government's Regional/LGA projections from 2023, adjusted via a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Based on projected demographic shifts, an above median population growth is expected nationally, with Mount Waverley - North projected to increase by 3,537 persons to 2041, reflecting an 18.0% total increase over the 17-year period.

AreaSearch assessment of residential development activity positions Mount Waverley - North among the top 25% of areas assessed nationwide

Mount Waverley - North has averaged around 125 new dwelling approvals per year. Development approval data is produced by the ABS on a financial year basis, showing 625 homes over the past five financial years from FY-21 to FY-25, and an additional 15 so far in FY-26. On average, 1.2 people have moved to the area for each dwelling built over the past five financial years. However, this rate has intensified to 4.5 people per dwelling over the past two financial years, indicating growing popularity and potential undersupply. New homes are being built at an average expected construction cost value of $1,025,000, suggesting developers focus on the premium market with high-end developments.

This financial year, there have also been $4.4 million in commercial approvals, demonstrating the area's primarily residential nature. Compared to Greater Melbourne, Mount Waverley - North records somewhat elevated construction activity, balancing buyer choice while supporting current property values. Recent construction comprises 49% standalone homes and 51% townhouses or apartments, indicating a shift from the area's existing housing composition of 72% houses. This focus on higher-density living creates more affordable entry points for downsizers, investors, and first-home buyers. The location has approximately 169 people per dwelling approval, indicating an expanding market.

By 2041, Mount Waverley - North is expected to grow by 3,168 residents. If current development rates continue, new housing supply should comfortably meet demand, providing good conditions for buyers and potentially supporting growth beyond current population projections.

Mount Waverley - North has strong levels of nearby infrastructure activity, ranking in the top 40% nationally

Area infrastructure performance is significantly influenced by changes to local projects and initiatives. AreaSearch has identified a total of 18 projects that may impact the area. Notable ones include the 151-161 Forster Road Industrial Development, Mount Waverley North Primary School Upgrade and Modernisation, East Burwood Reserve Master Plan Implementation, and the 22 Pascall Street Townhouses in Mount Waverley. The following list details those likely to be most relevant.

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

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 being strongly represented. The unemployment rate in the area is 1.5%, lower than Greater Melbourne's 4.6%.

Employment growth over the past year was estimated at 4.1%. As of June 2025, there are 9,374 residents employed, with an unemployment rate of 3.1%, below Greater Melbourne's rate. Workforce participation is somewhat lower in Mount Waverley - North (61.3%) compared to Greater Melbourne (64.1%). The leading employment industries among residents include professional & technical, health care & social assistance, and retail trade.

Notably, the area has a high concentration of professional & technical jobs, with employment levels at 1.4 times the regional average. In contrast, construction employs only 6.4% of local workers, below Greater Melbourne's 9.7%. The predominantly residential area appears to offer limited employment opportunities locally, as indicated by the count of Census working population vs resident population. In the 12-month period ending June 2025, employment increased by 4.1%, while labour force grew by 4.4%, causing the unemployment rate to rise by 0.3 percentage points. In comparison, Greater Melbourne recorded employment growth of 3.5%, labour force growth of 4.0%, with unemployment rising 0.5 percentage points. Providing broader context, state-level data from Sep-25 shows that VIC's employment grew by 1.08% year-on-year (adding 39,880 jobs), with the state unemployment rate at 4.7%, compared to the national rate of 4.5%. The state's employment growth outpaced the national average of 0.26%. Jobs and Skills Australia's national employment forecasts from May 2025 suggest that national employment is forecast to expand by 6.6% over five years and 13.7% over ten years. Applying these industry-specific projections to Mount Waverley - North's employment mix suggests local growth of approximately 6.9%% over five years and 14.1% over ten years, based on a simple weighting extrapolation for illustrative purposes.

The economic profile demonstrates above-average performance, with income metrics exceeding national benchmarks based on AreaSearch comparative assessment

According to AreaSearch's aggregation of ATO data released for financial year ending June 2022, Mount Waverley - North had a median income among taxpayers of $50,823. The average income stood at $74,091. This was higher than the national averages of $54,892 and $73,761 across Greater Melbourne respectively. Based on Wage Price Index growth of 10.11% from financial year ending June 2022 to March 2025, current estimates would be approximately $55,961 (median) and $81,582 (average). According to the Census conducted in August 2021, household income ranked at the 68th percentile ($2,049 weekly), while personal income was at the 49th percentile. The largest income bracket comprised 28.5% earning $1,500 - $2,999 weekly (5,011 residents). Higher earners represented a substantial presence with 32.7% exceeding $3,000 weekly. High housing costs consumed 15.2% of income, but strong earnings placed disposable income at the 70th percentile. The area's SEIFA income ranking placed it in the 9th 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). This compares to Melbourne metro's 69.6% houses and 30.3% other dwellings. Home ownership in Mount Waverley - North was at 43.2%, with the rest being mortgaged (31.9%) or rented (24.9%). The median monthly mortgage repayment in the area was $2,600, higher than Melbourne metro's average of $2,383. The median weekly rent figure was recorded at $485, compared to Melbourne metro's $440. Nationally, Mount Waverley - North's mortgage repayments were significantly higher than the Australian average of $1,863, while 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 account for 77.8% of all households, including 41.4% couples with children, 24.2% couples without children, and 10.9% single parent families. Non-family households constitute the remaining 22.2%, with lone person households at 18.8% and group households comprising 3.4%. The median household size is 2.8 people, larger than the Greater Melbourne average of 2.7.

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 is higher than broader benchmarks. Among residents aged 15+, 49.5% hold university qualifications, compared to 29.8% in the SA4 region and 30.4% nationally. Bachelor degrees are most common at 29.6%, followed by postgraduate qualifications (16.1%) and graduate diplomas (3.8%). Vocational pathways account for 20.5% of qualifications, with advanced diplomas at 10.5% and certificates at 10.0%.

Educational participation is high, with 31.9% of residents currently enrolled in formal education. This includes 9.1% in primary, 8.9% in secondary, and 8.3% pursuing tertiary education. The area has a robust network of 6 schools educating approximately 4,318 students. Mount Waverley - North demonstrates significant socio-educational advantages with an ICSEA score of 1129. Educational provision is split between 3 primary and 3 secondary institutions. The area functions as an education hub with 24.6 school places per 100 residents, significantly above the regional average of 15.8.

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

Public transport analysis shows 54 active transport stops operating within Mount Waverley - North. These include a mix of train and bus services. Seven individual routes service these stops, collectively providing 3,952 weekly passenger trips.

Transport accessibility is rated as good, with residents typically located 299 meters from the nearest transport stop. Service frequency averages 564 trips per day across all routes, equating to approximately 73 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, with low prevalence of common conditions across all ages. Private health cover is high at approximately 56% (~9,934 people), compared to Greater Melbourne's 54.4%.

The most prevalent medical conditions are arthritis (6.1%) and asthma (5.9%). 75.5% report no medical ailments, similar to Greater Melbourne's 75.3%. As of 2021, 18.2% (~3,205 people) are aged 65 and over. Senior health outcomes align with the general population's profile.

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, as per the 2016 Census, is one of Australia's most culturally diverse areas with 52.5% of its population speaking a language other than English at home and 51.0% born overseas. Christianity is the predominant religion in Mount Waverley-North, comprising 38.7% of the population. Notably, Buddhism is overrepresented compared to Greater Melbourne, making up 7.9% of Mount Waverley-North's population.

The top three ancestry groups are Chinese (24.6%), English (15.0%), and Australian (12.5%). Significant differences exist in the representation of certain ethnic groups: Sri Lankan at 2.2% compared to 2.1% regionally, Greek at 4.7% versus 5.6%, and Korean at 1.5% compared to 1.1%.

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

Mount Waverley - North has a median age of 40, slightly higher than Greater Melbourne's figure of 37 and Australia's figure of 38. The 15-24 age group is over-represented at 15.6%, compared to the Greater Melbourne average, while the 25-34 age group is under-represented at 11.6%. Between 2021 and present, the 15-24 age group has increased from 14.1% to 15.6% of the population. Conversely, the 45-54 age group has decreased from 13.6% to 12.9%. By 2041, demographic modeling suggests significant changes in Mount Waverley - North's age profile. The 45-54 age cohort is projected to expand by 630 people (28%), growing from 2,269 to 2,900. Meanwhile, the 0-4 age cohort is expected to grow modestly by 5%, an increase of 34 people.