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

Based on AreaSearch's analysis, Mount Waverley - South's population is around 21,415 as of Feb 2026. This reflects an increase of 2,150 people (11.2%) since the 2021 Census, which reported a population of 19,265 people. The change is inferred from the estimated resident population of 20,581 from the ABS as of June 2024 and an additional 149 validated new addresses since the Census date. This population level equates to a density ratio of 2,461 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. Mount Waverley - South's 11.2% growth since the 2021 census exceeded the national average (9.9%) and the state average, marking it as a growth leader in the region. Population growth for the area was primarily driven by overseas migration, which was essentially the sole driver of 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. Anticipating future population dynamics, a significant population increase in the top quartile of statistical areas analysed by AreaSearch is forecast, with the area expected to expand by 5,535 persons by 2041 based on the latest annual ERP population numbers, reflecting a gain of 21.9% in total over the 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, with 535 homes approved over the past 5 financial years (between FY-21 and FY-25) and 84 so far in FY-26. With an average of only 0.9 people per year moving to the area for each dwelling built over the past 5 financial years (between FY-21 and FY-25), new construction is matching or outpacing demand, offering buyers more options and enabling population growth that could exceed current expectations, while new properties are constructed at an average value of $659,000, demonstrating a developer focus on the premium segment with upmarket properties. Additionally, $27.2 million in commercial development approvals have been recorded this financial year, demonstrating moderate levels of commercial development.

Compared to Greater Melbourne, Mount Waverley - South has similar development levels (per person), maintaining market balance consistent with the broader area. New building activity shows 61.0% detached dwellings and 39.0% medium and high-density housing, with 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 shows characteristics of a growth area.

Population forecasts indicate Mount Waverley - South will gain 4,701 residents through to 2041 (from the latest AreaSearch quarterly estimate). At current development rates, 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 48thth percentile nationally

Nothing can influence an area's performance as much as changes to local infrastructure, major projects, and planning initiatives. In total, 21 projects have been identified by AreaSearch that are likely to have an impact on the area. Key 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, with the list below detailing those likely to be of most relevance.

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 professional services showing strong representation, an unemployment rate of just 1.6%, and 4.7% in estimated employment growth over the past year. As of December 2025, 11,399 residents are in work while the unemployment rate is 3.1% below Greater Melbourne's rate of 4.8%, and workforce participation is somewhat below standard (67.5% compared to Greater Melbourne's 71.3%). Based on Census responses, a high 39.1% of residents were found to work from home, though Covid-19 lockdown impacts should be considered.

Leading employment industries among residents comprise professional & technical, health care & social assistance, and education & training. The area shows particularly strong specialization in professional & technical, with an employment share of 1.4 times the regional level. On the other hand, construction is under-represented, with only 6.8% of Mount Waverley - South's workforce compared to 9.7% in Greater Melbourne. The ratio of 0.8 workers for each resident, as at the Census, indicates a level of local employment opportunities above the norm.

Based on AreaSearch analysis of SALM and ABS data, the 12-month period saw employment increasing by 4.7% alongside labour force increasing by 4.7%, with unemployment remaining essentially unchanged. By comparison, Greater Melbourne recorded employment growth of 2.4%, labour force growth of 2.8%, with unemployment rising 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 can offer further insight into potential future demand within Mount Waverley - South. These projections, covering five and ten-year periods, have been mapped against the local employment profile to estimate growth patterns. While national employment is forecast to expand by 6.6% over five years and 13.7% over ten years, growth rates differ significantly between industry sectors. Applying these industry-specific 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 (please note this is a simple weighting extrapolation for illustrative purposes and does not take into account localised population projections).

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

As per AreaSearch's latest postcode level ATO data released for FY-23, the Mount Waverley - South SA2's median income among taxpayers is $56,319, with an average of $77,578. This is very high nationally, and compares to Greater Melbourne's median of $57,688 and average of $75,164. Based on Wage Price Index growth of 8.25% since FY-23, current estimates would be approximately $60,965 (median) and $83,978 (average) as of September 2025. From the 2021 Census, household income ranks at the 70th percentile ($2,079 weekly), while personal income sits at the 52nd percentile. Income analysis reveals the $1,500 - 2,999 bracket dominates with 28.9% of residents (6,188 people), reflecting patterns seen in the surrounding region where 32.8% similarly occupy this range. A significant 32.9% earn above $3,000 weekly, reflecting pockets of prosperity that drive robust local economic activity. Housing accounts for 15.0% of income while strong earnings rank residents within the 72nd 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 within Mount Waverley - South, as evaluated at the latest Census, comprised 65.9% houses and 34.0% other dwellings (semi-detached, apartments, 'other' dwellings), in comparison to Melbourne metro's 67.9% houses and 32.1% other dwellings. Meanwhile, the level of home ownership within Mount Waverley - South was well beyond that of Melbourne metro, at 42.7%, with the remainder of dwellings either mortgaged (32.6%) or rented (24.7%). The median monthly mortgage repayment in the area was well above the Melbourne metro average at $2,600, while the median weekly rent figure was recorded at $470, compared to Melbourne metro's $2,000 and $390. Nationally, Mount Waverley - South's mortgage repayments are significantly higher than the Australian average of $1,863, while rents are 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 dominate at 76.4% of all households, comprising 40.6% couples with children, 24.4% couples without children, and 10.0% single parent families. Non-family households make up the remaining 23.6%, with lone person households at 19.6% and group households comprising 4.0% of the total. The median household size of 2.7 people is larger 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 significantly surpasses broader benchmarks, with 47.5% of residents aged 15+ holding university qualifications compared to 29.8% in the SA4 region and 30.4% in Australia. This substantial educational advantage positions the area strongly for knowledge-based opportunities. Bachelor degrees lead 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+ – advanced diplomas (10.9%) and certificates (10.8%).

Educational participation is notably high, 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 moderate compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Public transport analysis reveals 70 active transport stops operating within Mount Waverley - South, comprising a mix of buses. These stops are serviced by 17 individual routes, collectively providing 3,411 weekly passenger trips. Transport accessibility is rated as good, with residents typically located 283 meters from the nearest transport stop. As a primarily residential area, most residents commute outward; the car remains the dominant mode at 84%, with 9% by train. Vehicle ownership averages 1.4 per dwelling. A high 39.1% of residents work from home (2021 Census; may reflect COVID-19 conditions).

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 demonstrates outstanding results across Mount Waverley - South, based on AreaSearch's assessment of mortality rates and chronic condition prevalence. There is a very low prevalence of common health conditions across all age groups, and the rate of private health cover is very high at approximately 58% of the total population (~12,420 people).

The most common medical conditions in the area were found to be arthritis and asthma, impacting 6.1 and 6.0% of residents, respectively, while 75.5% declared themselves as completely clear of medical ailments compared to 72.6% across Greater Melbourne. The area has 18.4% of residents aged 65 and over (3,942 people), which is higher than the 15.1% in Greater Melbourne. Health outcomes among seniors are particularly strong, with national rankings broadly in line 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 scores highly on cultural diversity, with 47.8% of its population born overseas and 50.5% speaking a language other than English at home. The main religion in Mount Waverley - South is Christianity, which makes up 41.9% of the population. However, the most apparent overrepresentation is in Buddhism, which comprises 7.6% of the population, compared to 4.2% across Greater Melbourne.

In terms of ancestry (country of birth of parents), the top three represented groups in Mount Waverley - South are Chinese, comprising 20.0% of the population, which is substantially higher than the regional average of 6.5%, English, comprising 15.3% of the population, and Australian, comprising 13.2% of the population, which is notably lower than the regional average of 18.4%. Additionally, there are notable divergences in the representation of certain other ethnic groups: Sri Lankan is overrepresented at 2.5% of Mount Waverley - South (vs 0.8% regionally), Greek at 5.8% (vs 2.7%), and Korean at 1.2% (vs 0.3%).

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

With a median age of 40, Mount Waverley - South is somewhat higher than the Greater Melbourne figure of 37 and similarly marginally higher than Australia's 38 years. Compared to the Greater Melbourne average, the 75 - 84 cohort is notably over-represented (6.5% locally), while 25 - 34 year-olds are under-represented (11.3%). In the period since 2021, the 35 to 44 age group has grown from 13.8% to 15.2% of the population, while the 15 to 24 cohort increased from 12.8% to 13.9%. Conversely, the 25 to 34 cohort has declined from 12.6% to 11.3%. Demographic modeling suggests Mount Waverley - South's age profile will evolve significantly by 2041. The 45 to 54 age cohort is projected to see notable expansion, expanding by 1,000 people (36%) from 2,781 to 3,782. Meanwhile, the 0 to 4 cohort grows by a modest 9% (79 people).