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 is 20,687 as of Nov 2025. This shows an increase of 1,422 people since the 2021 Census, which reported a population of 19,265. The change is inferred from ABS data: 20,585 in June 2024 and additional validated new addresses since the Census date. This results in a density ratio of 2,377 persons per square kilometer, placing it in the upper quartile nationally according to AreaSearch assessments. Mount Waverley - South's growth rate of 7.4% since census is within 1.5 percentage points of the national average (8.9%). Overseas migration primarily drove this population 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 utilises 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. Future population dynamics anticipate a significant increase in this area, forecasted to expand by 5,535 persons to 2041 based on the latest annual ERP population numbers, reflecting a total gain of 26.2% over these 17 years.

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

Mount Waverley - South has recorded around 107 residential properties granted approval annually. Over the past five financial years, from FY21 to FY25535 homes were approved, with a further 64 approved in FY26 so far. On average, approximately 0.9 people have moved to the area each year for each dwelling built during this period.

This suggests that new construction has been matching or outpacing demand, providing more options for buyers and enabling population growth that could exceed current expectations. The average expected construction cost value of new properties is $659,000, indicating a focus on the premium segment with upmarket properties. In terms of commercial development, $27.2 million in approvals have been recorded this financial year, demonstrating moderate levels of commercial development.

Comparing Mount Waverley - South to Greater Melbourne shows similar development levels per person, maintaining market balance consistent with the broader area. New building activity in Mount Waverley - South is composed of 61.0% detached dwellings and 39.0% medium and high-density housing. This includes a growing mix of townhouses and apartments, providing 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. According to the latest AreaSearch quarterly estimate, Mount Waverley - South is projected to gain 5,429 residents by 2041. If current development rates continue, housing supply may struggle to match population growth, potentially heightening buyer competition and supporting price increases.

Mount Waverley - South has moderate levels of nearby infrastructure activity, ranking in the 46thth percentile nationally

The performance of an area can significantly be influenced by changes in local infrastructure, major projects, and planning initiatives. AreaSearch has identified 21 such projects that are expected to impact the area. Notable projects include the Mount Waverley Reserve Masterplan Implementation, the Mount Waverley Activity Centre Structure Plan, Syndal Place Townhouses, and the Suburban Rail Loop East - Emergency Support Facility Mount Waverley. The following list details those projects likely to be most relevant.

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

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

Mount Waverley - South has a highly educated workforce with strong representation in professional services. Its unemployment rate is 1.7%, lower than Greater Melbourne's 4.7%.

In the past year, there was an estimated 4.7% employment growth. As of September 2025, 11,280 residents are employed, with an unemployment rate of 3.0%, below Greater Melbourne's 4.7%. Workforce participation is 61.4%, slightly lower than Greater Melbourne's 64.1%. Leading employment industries include professional & technical, health care & social assistance, and education & training.

The area specializes in professional & technical services with an employment share of 1.4 times the regional level. However, construction is under-represented at 6.8% compared to Greater Melbourne's 9.7%. The worker-to-resident ratio is 0.8, indicating local employment opportunities above average. Between September 2024 and September 2025, employment increased by 4.7%, labour force by 4.8%, leading to a slight unemployment rise of 0.1 percentage points. In comparison, Greater Melbourne recorded employment growth of 3.0% with unemployment rising by 0.3 percentage points. State-level data from 25-Nov-25 shows Victoria's employment grew by 1.13% year-on-year, with an unemployment rate of 4.7%, slightly higher than the national rate of 4.3%. Jobs and Skills Australia forecasts national employment growth at 6.6% over five years and 13.7% over ten years. Applying these projections to Mount Waverley - South's employment mix suggests local employment should increase by 6.9% over five years and 14.1% over ten years, assuming constant population projections for illustrative purposes.

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

AreaSearch's latest postcode level ATO data for financial year 2022 shows Mount Waverley - South SA2 had a median income of $52,290 and an average income of $76,229. These figures are high nationally compared to Greater Melbourne's median of $54,892 and average of $73,761. By September 2025, estimated median income is approximately $58,648 and average income is around $85,498 based on Wage Price Index growth since financial year 2022. The 2021 Census data ranks household income at the 70th percentile ($2,079 weekly) and personal income at the 52nd percentile. Income analysis reveals that 28.9% of residents (5,978 people) earn between $1,500 - 2,999 weekly. A significant 32.9% earn above $3,000 weekly. Housing accounts for 15.0% of income, with strong earnings placing residents in the 72nd percentile for disposable income and the area's SEIFA income ranking at the 9th 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 69.6% houses and 30.3% other dwellings. Home ownership in Mount Waverley - South was at 42.7%, with the remaining dwellings either mortgaged (32.6%) or rented (24.7%). 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 $470, compared to Melbourne metro's $440. Nationally, Mount Waverley - South's mortgage repayments were significantly higher at $2,600 versus the Australian average of $1,863, and rents were substantially above the national figure of $375 at $470.

Mount Waverley - South features high concentrations of group households, with a fairly typical median household size

Family households comprise 76.4 percent of all households, including 40.6 percent couples with children, 24.4 percent couples without children, and 10.0 percent single parent families. Non-family households make up the remaining 23.6 percent, with lone person households at 19.6 percent and group households comprising 4.0 percent of the total. The median household size is 2.7 people, which matches the Greater Melbourne average.

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 is notably high, with 47.5% of residents aged 15 years and over holding university qualifications. This figure exceeds the SA4 region's average of 29.8% and Australia's average of 30.4%. The area has a substantial educational advantage, with bachelor degrees being the most common at 28.5%, followed by postgraduate qualifications (15.2%) and graduate diplomas (3.8%). Vocational pathways account for 21.7% of qualifications among those aged 15 years and over, with advanced diplomas making up 10.9% and certificates 10.8%.

Educational participation is high in the area, with 31.2% of residents currently enrolled in formal education. This includes 9.2% in primary education, 8.3% in secondary education, and 8.0% pursuing tertiary education.

Transport servicing is good 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 together facilitate 4,756 weekly passenger trips. The area's transport accessibility is rated as good, with residents on average being located 283 meters from the nearest stop.

Across all routes, there are an average of 679 trips per day, which translates to approximately 67 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

Mount Waverley - South shows excellent health outcomes, with very low prevalence of common conditions across all ages. Private health cover is high at approximately 58% (~11,957 people), compared to Greater Melbourne's 54.4%.

The most prevalent conditions are arthritis (6.1%) and asthma (6.0%). 75.5% report no medical ailments, similar to Greater Melbourne's 75.3%. 18.0% of residents are aged 65 and over (3,723 people). Seniors' health outcomes align with 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, comprising 41.9% of its population. Buddhism is overrepresented compared to Greater Melbourne, making up 7.6% versus 7.9%.

The top three ancestry groups are Chinese (20.0%), English (15.3%), and Australian (13.2%). Notably, Sri Lankan (2.5%) and Greek (5.8%) ethnicities are overrepresented compared to regional averages of 2.1% and 5.6%, respectively. Korean ethnicity is also slightly overrepresented at 1.2%.

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

Mount Waverley - South has a median age of 40, which is higher than Greater Melbourne's figure of 37 and Australia's average of 38 years. The 75-84 age cohort is over-represented in Mount Waverley - South at 6.4%, compared to the Greater Melbourne average. Conversely, those aged 25-34 are under-represented at 11.7%. Between 2021 and present, the 35-44 age group has grown from 13.8% to 15.3% of the population, while the 25-34 cohort has declined from 12.6% to 11.7%. By 2041, demographic modeling suggests significant changes in Mount Waverley - South's age profile. The 45-54 age cohort is projected to expand notably, increasing by 1,084 people (40%) from 2,697 to 3,782.