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 was around 17,734 as of November 2025. This reflects an increase of 1,661 people 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 level of population equates to a density ratio of 2,736 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. Mount Waverley - North's growth rate of 10.3% since the 2021 census exceeded the national average of 9.7%. Population growth for the area was primarily driven by overseas migration that 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. As we examine future population trends, an above median population growth is projected for statistical areas across the nation, with Mount Waverley - North expected to expand by 3,537 persons to 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 approximately 125 new dwelling approvals per year over the past five financial years, from FY-21 to FY-25, with a total of 625 homes approved during this period. In FY-26, up to June, 69 dwellings have been approved. On average, 1.2 people moved to the area for each dwelling built over these five financial years. However, recent data shows an increase in this ratio to 4.5 people per dwelling over the past two financial years, suggesting growing popularity and potential undersupply.

New properties are constructed at an average expected construction cost value of $623,000, indicating a focus on the premium market with high-end developments. This year, there have been $4.4 million in commercial development approvals recorded, reflecting the area's predominantly residential character. Compared to Greater Melbourne, Mount Waverley - North shows moderately higher new home approvals, at 43.0% above the regional average per person over the past five years. The new development consists of 49.0% standalone homes and 51.0% attached dwellings, promoting higher-density living to create more affordable entry points for downsizers, investors, and first-home buyers. This represents a notable shift from the area's existing housing composition, which is currently 72.0% houses.

With around 169 people per dwelling approval, Mount Waverley - North exhibits characteristics of a growth area. According to AreaSearch's latest quarterly estimate, the area is forecasted to gain 3,017 residents by 2041. At current development rates, new housing supply should comfortably meet demand, providing good conditions for buyers and potentially supporting population growth beyond current projections.

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 identified 17 projects likely influencing the area. Notable ones 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. The following list details those most relevant.

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

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AreaSearch analysis of employment trends sees Mount Waverley - North performing better than 90% of local markets assessed across Australia

Mount Waverley - North has a highly educated workforce with strong representation in professional services. Its unemployment rate is 1.5%, lower than Greater Melbourne's 4.7%. Employment growth over the past year was estimated at 4.8%.

As of September 2025, there are 9,418 residents employed, with an unemployment rate of 3.1% and workforce participation at 66.6%. A significant portion (41.1%) of residents work from home. Leading employment industries include professional & technical services, health care & social assistance, and retail trade. The area has a notable concentration in professional & technical services, with employment levels at 1.4 times the regional average.

Construction employs only 6.4% of local workers, below Greater Melbourne's 9.7%. Employment opportunities locally appear limited, as indicated by Census data comparing working population to resident population. Between September 2024 and September 2025, employment levels increased by 4.8%, labour force grew by 4.9%, causing the unemployment rate to rise slightly by 0.2 percentage points. In comparison, Greater Melbourne recorded employment growth of 3.0% with a 0.3 percentage point increase in unemployment. 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 approximately 6.9% over five years and 14.1% over ten years.

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

According to AreaSearch's aggregation of ATO data released for financial year 2023, Mount Waverley - North SA2 had a median taxpayer income of $54,739 and an average income of $75,402. Nationally, the median was $57,688 and the average was $75,164. By September 2025, estimates suggest a median income of approximately $59,255 and an average of $81,623, based on Wage Price Index growth of 8.25%. In 2021 Census figures, household income ranked at the 68th percentile ($2,049 weekly), with personal income at the 49th percentile. The largest income segment comprised 28.5% earning $1,500 - 2,999 weekly (5,054 residents). Higher earners made up a substantial presence, with 32.7% exceeding $3,000 weekly. High housing costs consumed 15.2% of income. Despite this, disposable income ranked at the 70th percentile, and 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 structures, 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 67.9% houses and 32.1% other dwellings. Home ownership in Mount Waverley - North stood at 43.2%, with the remaining dwellings either mortgaged (31.9%) or rented (24.9%). The median monthly mortgage repayment was $2,600, surpassing Melbourne metro's average of $2,000. Weekly rent in Mount Waverley - North averaged $485, higher than Melbourne metro's $390. Nationally, mortgage repayments were significantly higher at $2,600 compared to 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 comprise 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 make up 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 2.6.

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

Mount Waverley - North has a notably higher educational attainment compared to broader benchmarks. Specifically, 49.5% of its residents aged 15 and above hold university qualifications, surpassing the SA4 region's 29.8% and Australia's 30.4%. This significant educational advantage is driven by a high proportion of bachelor degrees (29.6%), postgraduate qualifications (16.1%), and graduate diplomas (3.8%). Vocational pathways are also prevalent, with 20.5% of residents aged 15 and above holding advanced diplomas (10.5%) or certificates (10.0%).

Educational participation is particularly 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 served by six different routes that together facilitate 3,038 weekly passenger trips. The area's transport accessibility is rated as good, with residents typically living 299 meters away from the nearest stop. Most residents commute outward due to its residential nature. Cars remain the primary mode of transport at 85%, while trains are used by 9% of residents. On average, there are 1.4 vehicles per dwelling.

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, resulting in 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 based on AreaSearch's assessment.

Mortality rates and chronic condition prevalence are very low across all age groups. Private health cover is high at approximately 57% of the total population (~10,037 people). The most prevalent medical conditions are arthritis (6.1%) and asthma (5.9%). A majority (75.5%) report being free from medical ailments, higher than Greater Melbourne's 72.6%. Residents aged 65 and over comprise 18.2% of the population (3,232 people), more than Greater Melbourne's 14.9%. While health outcomes among seniors are strong, they rank lower nationally compared to 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 Australia, with 52.5% of its population speaking a language other than English at home as of 2016 Census data. Additionally, 51.0% of Mount Waverley-North's residents were born overseas during this period. Christianity was found to be the predominant religion in Mount Waverley-North, comprising 38.7% of its population.

However, Buddhism showed notable overrepresentation at 7.9%, compared to Melbourne's average of 4.2%. Regarding ancestry based on parents' country of birth, the top three groups in Mount Waverley-North were Chinese (24.6%), English (15.0%), and Australian (12.5%). These figures notably diverged from Greater Melbourne's averages: Chinese at 6.5%, English at 20.1%, and Australian at 18.4%. Other ethnic groups with notable overrepresentation included Sri Lankan (2.2% vs regional average of 0.8%), Greek (4.7% vs 2.7%), and Korean (1.5% vs 0.3%).

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 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 610 people (27%), growing from 2,289 to 2,900. Meanwhile, the 0-4 age group is projected to grow by a modest 4%, an increase of 29 people.