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 around 17,586 as of Nov 2025. This reflects an increase of 1,513 people since the 2021 Census, which reported a population of 16,073 people. The change was inferred from the estimated resident population of 17,214 in June 2024 and an additional 242 validated new addresses since the Census date. This level of population equates to a density ratio of 2,713 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. Mount Waverley - North's growth of 9.4% since the 2021 census exceeded the national average (8.9%). Population growth for the area was primarily driven by overseas migration contributing approximately 94.5% of overall population gains during recent periods.

AreaSearch is adopting 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 VIC State Government's Regional/LGA projections released in 2023, adjusted employing 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. Considering projected demographic shifts, an above median population growth is projected, with the area expected to increase by 3,537 persons to 2041 based on the latest population numbers, reflecting an increase of 18.0% in total over the 17 years.

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

Mount Waverley - North has averaged approximately 125 new dwelling approvals annually 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 until now, 48 dwellings have been approved. On average, 1.2 people have moved into the area per dwelling built over these five years. However, recent data indicates an intensification to 4.5 people per dwelling over the past two financial years, suggesting growing popularity and potential undersupply in the area.

The average expected construction cost value of new properties is $623,000, indicating a focus on the premium market with high-end developments. This year alone, $4.4 million in commercial development approvals have been recorded, reflecting the residential character of Mount Waverley - North. Compared to Greater Melbourne, Mount Waverley - North shows moderately higher new home approvals, being 43.0% above the regional average per person over the five-year period. The new developments consist of 49.0% standalone homes and 51.0% attached dwellings, a notable shift from the area's existing housing composition, which is currently 72.0% houses. This change indicates decreasing availability of developable sites and reflects evolving lifestyles and the need for more diverse, affordable housing options.

With around 169 people moving into the area per dwelling approval, Mount Waverley - North exhibits characteristics of a growth area. Population forecasts project that Mount Waverley - North will gain approximately 3,165 residents by 2041. At current development rates, 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

AreaSearch has identified 17 projects that could impact the area, with key ones being the 151-161 Forster Road Industrial Development, Mount Waverley North Primary School Upgrade and Modernisation, East Burwood Reserve Master Plan Implementation, and 22 Pascall Street Townhouses, Mount Waverley. The following list details those most likely to be 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 professional services being strongly represented. The unemployment rate in the area is 1.5% as of June 2025.

There has been an estimated employment growth of 4.1% over the past year. As of June 2025, 9,374 residents are employed while the unemployment rate is 3.1% lower than Greater Melbourne's rate of 4.6%. The workforce participation rate in Mount Waverley - North is 61.3%, which is somewhat below Greater Melbourne's rate of 64.1%. Leading employment industries among residents include professional & technical, health care & social assistance, and retail trade.

Notably, the area has a high concentration in professional & technical services, with employment levels at 1.4 times the regional average. Conversely, construction employs only 6.4% of local workers, lower than Greater Melbourne's rate of 9.7%. The predominantly residential area appears to offer limited local employment opportunities, as indicated by the Census working population count compared to the resident population. According to AreaSearch analysis of SALM and ABS data for the year to June 2025, employment levels increased by 4.1% while labour force increased by 4.4%, resulting in a rise of 0.3 percentage points in the unemployment rate. In comparison, Greater Melbourne recorded employment growth of 3.5%, labour force growth of 4.0%, and an increase of 0.5 percentage points in unemployment. Jobs and Skills Australia's national employment forecasts from May 2025 suggest that national employment is expected to expand by 6.6% over five years and 13.7% over ten years. However, growth rates differ significantly between industry sectors. Applying these projections to Mount Waverley - North's employment mix suggests a local growth of approximately 6.9% over five years and 14.1% over ten years.

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

AreaSearch's aggregation of latest postcode level ATO data for financial year 2022 shows Mount Waverley - North had a median taxpayer income of $50,823 and an average income of $74,091. Nationally, the median was $54,892 and the average was $73,761. By September 2025, estimated incomes would be approximately $57,003 (median) and $83,100 (average), based on a 12.16% Wage Price Index growth since financial year 2022. According to the 2021 Census, household income ranked at the 68th percentile ($2,049 weekly), while personal income was at the 49th percentile. Income brackets showed that 28.5% of residents earned $1,500 - 2,999 weekly (5,012 residents). Higher earners made up 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 was 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 in Mount Waverley - North, as evaluated at the latest Census, comprised 71.9% houses and 28.2% other dwellings. In comparison, Melbourne metro had 69.6% houses and 30.3% other dwellings. Home ownership in Mount Waverley - North was 43.2%, with mortgaged dwellings at 31.9% and rented ones at 24.9%. The median monthly mortgage repayment was $2,600, higher than Melbourne metro's average of $2,383. Median weekly rent in Mount Waverley - North was $485, compared to Melbourne metro's $440. Nationally, mortgage repayments were significantly higher at $1,863 and rents 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 account for the remaining 22.2 percent, with lone person households at 18.8 percent and group households comprising 3.4 percent of the total. 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

Mount Waverley - North has a notably high level of educational attainment among residents aged 15 and above. 49.5% hold university qualifications, surpassing the SA4 region's 29.8% and Australia's 30.4%. Bachelor degrees are the most common at 29.6%, followed by postgraduate qualifications (16.1%) and graduate diplomas (3.8%). Vocational pathways account for 20.5%, 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. There are six schools operating within Mount Waverley - North, educating approximately 4,318 students. The area has significant socio-educational advantages and academic achievement (ICSEA: 1129). Educational provision is conventional, split between three primary and three secondary institutions. Mount Waverley - North functions as an education hub with 24.6 school places per 100 residents, significantly above the regional average of 15.8. This attracts students from surrounding communities.

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

Mount Waverley - North has 54 active public transport stops, served by a mix of train and bus routes. These stops are covered by 7 individual routes, offering a total of 3,952 weekly passenger trips. The area's transport accessibility is rated good, with residents on average located 299 meters from the nearest 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 very low prevalence of common conditions across all ages. Private health cover is high at approximately 56% (~9,936 people), compared to Greater Melbourne's 54.4%.

The most prevalent medical conditions are arthritis (6.1%) and asthma (5.9%), while 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. Seniors' 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 ABS Census 2016, has a population where 52.5% speak languages other than English at home. Overseas birth comprises 51.0%. Christianity is the predominant religion, with 38.7%.

Buddhism's representation is notably higher at 7.9%, compared to Greater Melbourne's 7.9%. Top ancestry groups are Chinese (24.6%), English (15.0%), and Australian (12.5%). Sri Lankan (2.2% vs regional 2.1%) and Greek (4.7% vs 5.6%) are overrepresented, while Korean shows a slight increase at 1.5% compared to the region's 1.1%.

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 makes up 15.6% of the population in Mount Waverley - North, compared to the Greater Melbourne average, indicating an over-representation of this cohort. Conversely, the 25-34 age group is under-represented at 11.6%. Between 2021 and present, the percentage of the population aged 15-24 has increased from 14.1% to 15.6%, while the 45-54 age group has decreased from 13.6% to 12.9%. By 2041, demographic modeling projects significant changes in Mount Waverley - North's age profile. The 45-54 cohort is expected to expand by 629 people (28%), growing from 2,270 to 2,900. Meanwhile, the 0-4 age group is projected to grow modestly by 5%, adding 34 people.