Mount Waverley - South

Population growth drivers in Mount Waverley - South are above average based on AreaSearch's ranking of recent, and medium to long-term trends

Mount Waverley - South's population was around 20,699 as of May 2026. This figure shows an increase of 1,434 people since the 2021 Census, which recorded a population of 19,265. The growth is inferred from ABS data showing an estimated resident population of 20,659 in June 2025 and an additional 152 validated new addresses since the Census date. This results in a population density ratio of 2,379 persons per square kilometer, placing Mount Waverley - South in the upper quartile nationally according to AreaSearch's assessments. The area's 7.4% growth since the census is within 1.9 percentage points of Victoria's state average (9.3%), indicating competitive population growth fundamentals. Overseas migration was the primary driver of this growth.

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 VIC State Government's Regional/LGA projections from 2023, adjusting using weighted aggregation methods to SA2 levels. Growth rates by age group are applied across all areas for the years 2032 to 2041. By 2041, Mount Waverley - South is projected to increase its population by 5,080 persons, reflecting a total gain of 24.4% over the 16-year period based on the latest annual ERP population numbers.

Recent residential development output has been above average within Mount Waverley - South when compared nationally

Mount Waverley - South has recorded approximately 107 residential properties granted approval annually. Over the past five financial years, from FY21 to FY25, around 535 homes have been approved, with a further 101 approved so far in FY26. On average, about 0.9 people per year have moved to the area for each dwelling built during this period.

This suggests that new construction is meeting or exceeding demand, providing more housing options and enabling population growth. The average expected construction cost value of new properties is around $659,000, indicating a focus on the premium segment with upmarket properties. This financial year has seen approximately $27.2 million in commercial development approvals, indicating moderate levels of commercial development in Mount Waverley - South.

Compared to Greater Melbourne, Mount Waverley - South maintains similar development levels per person, keeping market balance consistent with the broader area. New building activity shows a mix of housing types: 61% detached dwellings and 39% medium and high-density housing, including townhouses and apartments. This provides options across different price points, from family homes to more affordable compact living. With around 171 people per dwelling approval, Mount Waverley - South exhibits characteristics of a growth area. Population forecasts indicate that Mount Waverley - South is expected to gain approximately 5040 residents by 2041, according to the latest AreaSearch quarterly estimate. If current development rates continue, housing supply may struggle to keep pace with population growth, potentially increasing buyer competition and supporting price increases.

Mount Waverley - South has moderate levels of nearby infrastructure activity, ranking in the 47thth percentile nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified 20 projects likely influencing the region. Notable initiatives include Mount Waverley Reserve Masterplan Implementation, Mount Waverley Activity Centre Structure Plan, Syndal Place Townhouses, and Monash Medical Centre Tower Expansion. The following list details those most relevant:.

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

Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.

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

Mount Waverley - South has an educated workforce with strong professional services representation. Its unemployment rate is 1.6%. Over the past year, there was estimated employment growth of 4.7%.

As of December 2025, 11,399 residents are employed while the unemployment rate is 3.1% lower than Greater Melbourne's rate of 4.8%. Workforce participation is at 67.0%, slightly below Greater Melbourne's 69.9%. According to Census responses, 39.1% of residents work from home. Leading industries include professional & technical (strongly specialized with an employment share 1.4 times the regional level), health care & social assistance, and education & training.

Construction is under-represented at 6.8% compared to Greater Melbourne's 9.7%. The ratio of workers to residents is 0.8, indicating above-average local employment opportunities. Over a 12-month period ending in May 25, employment increased by 4.7%, labour force grew by the same rate, with unemployment remaining stable. In contrast, Greater Melbourne saw employment growth of 2.4% and unemployment rise by 0.3 percentage points. National employment forecasts from Jobs and Skills Australia project a 6.6% increase over five years and 13.7% over ten years. Applying these projections to Mount Waverley - South's industry mix suggests local employment should grow by 6.9% in five years and 14.1% in ten years, though these are illustrative extrapolations and do not account for localized population projections.

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

AreaSearch released postcode level ATO data for financial year 2023. Mount Waverley - South SA2's median taxpayer income is $56,319, with an average of $77,578. Nationally, this is high compared to Greater Melbourne's median of $57,688 and average of $75,164. By March 2026, estimates suggest the median will be approximately $61,737 and the average around $85,041, based on a 9.62% Wage Price Index growth since financial year 2023. According to the 2021 Census, household income ranks at the 70th percentile ($2,079 weekly), while personal income is at the 52nd percentile. Income analysis shows that 28.9% of residents (5,982 people) earn between $1,500 and $2,999 weekly. Surrounding regions also exhibit similar patterns with 32.8% in this income bracket. Notably, 32.9% of Mount Waverley - South residents earn above $3,000 weekly. Housing accounts for 15.0% of income, and strong earnings place residents within the 72nd percentile for disposable income. The area's SEIFA income ranking is in the 8th decile.

Mount Waverley - South displays a diverse mix of dwelling types, with above-average rates of outright home ownership

Mount Waverley - South's dwelling structures, as per the latest Census, consisted of 65.9% houses and 34.0% 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 - South stood at 42.7%, with mortgaged dwellings at 32.6% and rented ones at 24.7%. The median monthly mortgage repayment was $2,600, higher than Melbourne metro's average of $2,000. Median weekly rent in Mount Waverley - South was $470, compared to Melbourne metro's $390. Nationally, 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 - South features high concentrations of group households, with a higher-than-average median household size

Family households comprise 76.4% of all households, including 40.6% couples with children, 24.4% couples without children, and 10.0% single parent families. Non-family households account for 23.6%, with lone person households at 19.6% and group households making up 4.0%. The median household size is 2.7 people, higher than the Greater Melbourne average of 2.6.

Mount Waverley - South demonstrates exceptional educational outcomes, ranking among the top 5% of areas nationally based on AreaSearch's comprehensive analysis of qualification and performance metrics

Educational attainment in Mount Waverley South exceeds broader benchmarks. As of 2016 data, 47.5% of residents aged 15+ had university qualifications, compared to 29.8% in the SA4 region and 30.4% nationally. Bachelor degrees were most prevalent at 28.5%, followed by postgraduate qualifications (15.2%) and graduate diplomas (3.8%). Vocational pathways accounted for 21.7% of qualifications, with advanced diplomas at 10.9% and certificates at 10.8%.

Educational participation was high, with 31.2% of residents enrolled in formal education as of 2016. This included 9.2% in primary education, 8.3% in secondary education, and 8.0% pursuing tertiary education.

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

Mount Waverley - South has 70 active public transport stops, all of which are bus stops. These stops are served by 17 different routes that collectively facilitate 3,411 weekly passenger trips. The area's transport accessibility is rated as good, with residents typically located approximately 283 meters from the nearest transport stop. Most residents commute outward due to its primarily residential nature. Car remains the dominant mode of transport at 84%, while train usage stands at 9%. On average, there are 1.4 vehicles per dwelling in the area.

According to the 2021 Census, a high proportion of residents, specifically 39.1%, work from home, which may reflect COVID-19 conditions. The service frequency averages 487 trips per day across all routes, equating to approximately 48 weekly trips per individual stop.

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

Health outcomes data shows excellent results for Mount Waverley - South based on 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 58% (~12,005 people) have private health cover, which is significantly higher than the Greater Melbourne average. The most prevalent medical conditions are arthritis (6.1%) and asthma (6.0%). Notably, 75.5% of residents report being completely clear of medical ailments compared to 72.6% in Greater Melbourne. Mount Waverley - South has a higher proportion of seniors aged 65 and over at 18.0% (3,719 people), compared to the Greater Melbourne average of 15.0%. Health outcomes among seniors are strong and align with national rankings for the general population.

Mount Waverley - South 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-South has high cultural diversity, with 47.8% of its population born overseas and 50.5% speaking a language other than English at home. Christianity is the predominant religion in Mount Waverley-South, making up 41.9%. Buddhism is overrepresented compared to Greater Melbourne, comprising 7.6% vs 4.2%.

Top ancestry groups are Chinese (20.0%, regional average 6.5%), English (15.3%) and Australian (13.2%, regional average 18.4%). Sri Lankan (2.5% vs region's 0.8%), Greek (5.8% vs 2.7%) and Korean (1.2% vs 0.3%) groups are notably divergent in representation.

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

Mount Waverley - South has a median age of 40, which is slightly higher than Greater Melbourne's figure of 37 and Australia's median age of 38. The 55-64 age group is notably over-represented in Mount Waverley - South at 11.5%, while the 25-34 age group is under-represented at 12.0%. Between 2021 and the present, the 35 to 44 age group has increased from 13.8% to 15.2% of the population, and the 15 to 24 cohort has risen from 12.8% to 13.9%. Conversely, the 0 to 4 age group has decreased from 4.7% to 3.9%. By 2041, demographic modeling projects significant changes in Mount Waverley - South's age profile, with the 45 to 54 age cohort expanding by 1,041 people (39%) from 2,695 to 3,737.