Mount Waverley - South
Statistical Area - sa2

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

Mount Waverley - South's population, as of Aug 2025, is around 20,655 people. This reflects a growth of 1,390 people since the 2021 Census, which reported a population of 19,265. The increase is inferred from ABS estimates of 20,585 in June 2024 and an additional 139 validated new addresses since the Census date. This results in a density ratio of 2,374 persons per square kilometer, placing it in the upper quartile nationally according to AreaSearch's assessments. The area's growth of 7.2% since the census is within 1.4 percentage points of the national average (8.6%), indicating competitive growth fundamentals. Overseas migration was the primary driver of population growth during recent periods.

AreaSearch uses ABS/Geoscience Australia projections released in 2024 with a base year of 2022 for each SA2 area, and VIC State Government's Regional/LGA projections from 2023 adjusted to SA2 levels for areas not covered by ABS data. Future population dynamics forecast a significant increase in the top quartile of statistical areas analysed, with Mount Waverley - South expected to expand by 5,535 persons to 2041 based on latest numbers, recording a gain of 26.4% over the 17 years.

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. Development approval data is produced by the ABS on a financial year basis, showing 535 homes over the past five financial years from FY21 to FY25, and 26 so far in FY26. The average number of new residents per year per dwelling constructed over these five years is 0.9. This suggests that supply is meeting or surpassing demand, providing greater buyer choice while supporting potential for population growth above projections.

The average expected construction cost value of new dwellings is $922,000, indicating a focus on the premium market with high-end developments. In terms of commercial development, $27.2 million in approvals have been registered this financial year, demonstrating moderate levels of commercial activity compared to Greater Melbourne. Mount Waverley - South has similar development levels per person as surrounding areas, preserving market equilibrium.

New development consists of 61% detached dwellings and 39% medium and high-density housing, with a growing mix of townhouses and apartments offering options across different price points. At around 171 people per approval, Mount Waverley - South reflects an area experiencing growth. Population forecasts indicate that Mount Waverley - South will gain approximately 5,461 residents by 2041. If current construction levels persist, housing supply may lag population growth, potentially intensifying buyer competition and underpinning price growth.

Mount Waverley - South has very high levels of nearby infrastructure activity, ranking in the top 20% nationally

Changes to local infrastructure significantly affect an area's performance. AreaSearch identified 22 projects that could impact the area. Notable ones include Suburban Rail Loop East (SRL East), Mount Waverley Reserve Masterplan Implementation, Syndal Place Townhouses, and Caulfield-Rowville Trackless Rapid Transit. The following list details those most relevant.

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

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

Mount Waverley - South has a highly educated workforce with strong representation in professional services. Its unemployment rate is 1.7% and it experienced an estimated employment growth of 4.2% over the past year.

As of June 2025, there are 11,309 residents employed, with an unemployment rate of 2.9%, below Greater Melbourne's rate of 4.6%. Workforce participation is lower at 61.4% compared to Greater Melbourne's 64.1%. Key industries include professional & technical (at 1.4 times the regional average), health care & social assistance, and education & training. Construction has limited presence with 6.8% employment compared to 9.7% regionally.

The worker-to-resident ratio is 0.8, indicating above-average local employment opportunities. Over the past year, employment increased by 4.2%, labour force by 4.4%, leading to a slight unemployment rise of 0.2 percentage points. Greater Melbourne recorded lower employment growth at 3.5% with unemployment rising more at 0.5 percentage points. State-level data from Sep-25 shows Victoria's employment grew by 1.08% year-on-year, with an unemployment rate of 4.7%. National forecasts suggest total employment will expand by 6.6% over five years and 13.7% over ten years. Applying these projections to Mount Waverley - South's industry mix suggests local growth could be approximately 6.9% over five years and 14.1% over ten years, although these are extrapolations for illustrative purposes only.

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 that Mount Waverley - South has a high national median assessed income of $52,290 and an average income of $76,229. This contrasts with Greater Melbourne's median income of $54,892 and average income of $73,761. Based on Wage Price Index growth of 10.11% since financial year 2022, current estimates for Mount Waverley - South would be approximately $57,577 (median) and $83,936 (average) as of March 2025. Census 2021 income data shows household income ranks at the 71st percentile ($2,079 weekly) while personal income sits at the 53rd percentile. Income analysis reveals that 28.9% of the community earns between $1,500 and $2,999 (5,969 individuals), consistent with broader trends in the surrounding region showing 32.8% in the same category. Economic strength is evident through 32.9% of households achieving high weekly earnings exceeding $3,000, supporting elevated consumer spending. Housing accounts for 15.0% of income while strong earnings rank residents within the 73rd percentile for disposable income and the area's SEIFA income ranking places it in the 9th decile.

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

Dwelling structure in Mount Waverley - South, as per the latest Census, comprised 65.9% houses and 34.0% other dwellings. In comparison, Melbourne metro had 69.6% houses and 30.3% other dwellings. Home ownership in Mount Waverley - South was at 42.7%, with the rest being mortgaged (32.6%) or rented (24.7%). The median monthly mortgage repayment was $2,600, higher than Melbourne metro's average of $2,383. Weekly rent median was $470, compared to Melbourne metro's $440. Nationally, Mount Waverley - South's mortgage repayments were significantly higher at $1,863 and rents substantially above the national figure of $375.

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

Family households compose 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 the remaining 23.6%, with lone person households at 19.6% and group households comprising 4.0%. The median household size is 2.7 people, aligning with Greater Melbourne's 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

In Mount Waverley - South, a significant proportion of residents aged 15 years and above have attained university qualifications. Specifically, 47.5% hold such qualifications, which is higher than both the SA4 region average of 29.8% and the national average of 30.4%. This high level of educational attainment positions Mount Waverley - South favourably for opportunities that require advanced knowledge. Among those with university qualifications, bachelor degrees are most common at 28.5%, followed by postgraduate qualifications at 15.2% and graduate diplomas at 3.8%.

Vocational pathways also play a role in the area's educational landscape, with 21.7% of residents aged 15 years and above holding vocational qualifications. Advanced diplomas account for 10.9%, while certificates make up 10.8% of these qualifications. Mount Waverley - South demonstrates high levels of educational participation among its residents. Currently, 31.2% are enrolled in formal education programs. This includes 9.2% in primary education, 8.3% in secondary education, and 8.0% pursuing tertiary education. The area's five schools have a combined enrollment of 3,311 students. Mount Waverley - South also shows exceptional educational performance, with an ICSEA score of 1154, indicating that its schools are among the most academically advantaged nationally. The educational mix in Mount Waverley - South includes four primary schools and one K-12 school.

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

Mount Waverley - South has 70 operational 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 public transport accessibility is considered good, with residents on average being located 283 meters from the nearest stop.

On a daily basis, an average of 679 trips are made across all routes, which amounts 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. Approximately 58% of its total population (11,938 people) have private health cover, higher than Greater Melbourne's 54.4%.

The most frequent medical conditions are arthritis and asthma, affecting 6.1% and 6.0% respectively. Around 75.5% of residents report no medical ailments, similar to Greater Melbourne's 75.3%. As of the latest data, 18.0% of residents (3,717 people) are aged 65 and over. Senior health outcomes align with the general population's profile.

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 dominant religion in Mount Waverley-South, comprising 41.9% of its population. Buddhism is notably overrepresented compared to Greater Melbourne, making up 7.6% of Mount Waverley-South's population.

The top three ancestry groups are Chinese (20.0%), English (15.3%), and Australian (13.2%). Some other ethnic groups also show notable differences in representation: Sri Lankan at 2.5%, Greek at 5.8%, and Korean 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 figure of 38. The population aged 75-84 is notably over-represented at 6.4%, while those aged 25-34 are under-represented at 11.7%. Between 2021 and the present, the proportion of the population aged 35-44 has grown from 13.8% to 15.3%, whilst the proportion of those aged 25-34 has declined from 12.6% to 11.7%. By 2041, demographic modeling suggests significant changes in Mount Waverley - South's age profile. The number of people aged 45-54 is projected to increase by 1,088 (40%) from 2,693 to 3,782.