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 around 21,415 as of Feb 2026. This reflects an increase of 2,150 people 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 in June 2024 and an additional 149 validated new addresses since the Census date. This level of population 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 growth rate of 11.2% since the 2021 census exceeded the national average (9.9%), along with the state, marking it as a growth leader in the region. Population growth for the area was primarily driven by overseas migration.

AreaSearch is adopting ABS/Geoscience Australia projections released in 2024 with a base year of 2022 for each SA2 area. For areas not covered by this data, AreaSearch utilises 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 are applied across all areas for years 2032 to 2041. Based on the latest annual ERP population numbers, a significant population increase is forecast in Mount Waverley - South, with an expected expansion of 5,535 persons to 2041, 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 granted approximately 107 residential property approvals annually. Over the past five financial years, from FY-21 to FY-25, around 535 homes were approved, with an additional 75 approved so far in FY-26. On average, about 0.9 people have moved to the area per dwelling built over these years.

This indicates that new construction is keeping pace with demand and offering buyers more options while facilitating population growth. The average expected construction cost value of new properties is around $659,000, suggesting a focus on the premium segment. In FY-26 alone, $27.2 million in commercial development approvals have been recorded, indicating moderate levels of commercial development.

Comparing Mount Waverley - South with Greater Melbourne shows similar development levels per person, maintaining market balance consistent with the broader area. New building activity comprises 61.0% detached dwellings and 39.0% medium to high-density housing, offering a mix of townhouses and apartments across different price points. With approximately 171 people expected per dwelling approval, Mount Waverley - South exhibits characteristics of a growth area. According to the latest AreaSearch quarterly estimate, the area is forecasted to gain around 4,701 residents by 2041. If current development rates continue, housing supply may struggle to match population growth, potentially intensifying buyer competition and supporting price increases.

Mount Waverley - South has moderate levels of nearby infrastructure activity, ranking in the 48thth percentile nationally

Changes to local infrastructure significantly impact an area's performance. AreaSearch has identified 21 projects that could affect the region. Notable ones include Mount Waverley Reserve Masterplan Implementation, Mount Waverley Activity Centre Structure Plan, Syndal Place Townhouses, and Suburban Rail Loop East - Emergency Support Facility 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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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. The unemployment rate is 1.7%, and there was an estimated employment growth of 4.7% over the past year as of September 2025. There are 11,280 residents in work with an unemployment rate of 3.0%, which is below Greater Melbourne's rate of 4.7%.

Workforce participation is somewhat below standard at 66.8% compared to Greater Melbourne's 71.0%. According to Census responses, 39.1% of residents were found to work from home. 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.

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 indicates a level of local employment opportunities above the norm. Over a 12-month period, employment increased by 4.7% alongside labour force increasing by 4.8%, resulting in unemployment rising by 0.1 percentage points. By comparison, Greater Melbourne recorded employment growth of 3.0%, labour force growth of 3.3%, with unemployment rising 0.3 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 offer further insight into potential future demand within Mount Waverley - South. These projections, covering five and ten-year periods, suggest national employment should expand by 6.6% over five years and 13.7% over ten years. 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.

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 2023 shows Mount Waverley - South SA2 had a median income of $56,319 and an average of $77,578 among taxpayers. Nationally, these figures are high, with Greater Melbourne having a median of $57,688 and an average of $75,164. Based on Wage Price Index growth of 8.25% since financial year 2023, estimated incomes as of September 2025 would be approximately $60,965 (median) and $83,978 (average). 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 (6,188 people) fall into the $1,500 - 2,999 weekly income bracket. 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. The area's SEIFA income ranking is in 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 showed 65.9% houses and 34.0% other dwellings (semi-detached, apartments, 'other' dwellings), compared 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 $2,000. Median weekly rent in Mount Waverley - South was $470, compared to Melbourne metro's $390. Nationally, 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 higher-than-average median household size

Family households account for 76.4% of all households, including 40.6% that are couples with children, 24.4% that are couples without children, and 10.0% that are 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%. The median household size is 2.7 people, which 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 is notable for surpassing broader benchmarks. Among residents aged 15 and above, 47.5% hold university qualifications, compared to 29.8% in the SA4 region and 30.4% nationally. This educational advantage positions the area favourably for knowledge-based opportunities. Bachelor degrees are 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 and above, with advanced diplomas making up 10.9% and certificates 10.8%. Educational participation is 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

Mount Waverley - South has 70 operational public transport stops, all of which are bus services. These stops are served by 17 different routes that collectively facilitate 3,411 weekly passenger trips. The area's transport accessibility is deemed good, with residents typically located 283 meters from the nearest stop. As a predominantly residential region, most commuters travel outward. Cars remain the primary mode of transportation at 84%, while trains account for 9%. On average, there are 1.4 vehicles per dwelling.

According to the 2021 Census, 39.1% of residents work from home, which may be influenced by COVID-19 conditions. The service frequency averages 487 trips daily 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

Mount Waverley - South shows excellent health outcomes based on AreaSearch's assessment of mortality rates and chronic condition prevalence, with very low prevalence of common health conditions across all age groups.

The rate of private health cover is very high at approximately 58% of the total population (~12,420 people). The most prevalent medical conditions in the area are arthritis and asthma, affecting 6.1 and 6.0% of residents respectively, while 75.5% of residents declared themselves 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 has notable 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, accounting for 41.9% of the population. However, Buddhism is more prevalent here compared to Greater Melbourne, making up 7.6% versus the regional average of 4.2%.

In terms of ancestry, the top three groups are Chinese (20.0%), English (15.3%), and Australian (13.2%). Notably, Sri Lankan, Greek, and Korean ethnicities are overrepresented in Mount Waverley-South compared to Greater Melbourne averages.

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 national average of 38 years. The 75-84 age group is notably over-represented in Mount Waverley - South at 6.5%, compared to the Greater Melbourne average. Conversely, the 25-34 year-olds are under-represented at 11.3%. Between 2021 and present, the 35-44 age group has increased from 13.8% to 15.2% of the population, while the 15-24 cohort has risen from 12.8% to 13.9%. However, the 25-34 age group has decreased from 12.6% to 11.3%. By 2041, demographic modeling projects significant changes in Mount Waverley - South's age profile. The 45-54 age cohort is expected to expand by 1,000 people (36%), growing from 2,781 to 3,782. Meanwhile, the 0-4 cohort is projected to grow modestly by 9%, adding 79 people.