Glen Waverley is a well-populated suburb in Victoria within the Monash local government area (postcode 3150). The area has roughly 42,642 residents and an established demographic, with a median age of 40. Households earn a median income of $100K per year, with an average household size of 2.8 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.6% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and professional services. The top ancestries reported are Chinese, English, Australian.
The median house price in Glen Waverley is $1.6 million, having moved lower by 6.1% over the past year. Units have a median price of $731,000 (-16.9% YoY). The current median weekly rent is $695. This gives a gross rental yield of approximately 2.3%. The median monthly mortgage repayment is $2,500.
Glen Waverley is served by 13 schools, including 8 primary, 3 secondary, 2 special. The average ICSEA score is 1118, which is well above the national average of 1,000. Public transport access includes 16 rail stations, 157 bus stops. Healthcare facilities include 2 private hospitals. The crime rate in the Monash LGA is moderate at 7,127 incidents per 100,000 population.
On the investment side, Glen Waverley shows a gross rental yield of approximately 2.3%, rated as low yield. Property prices are above the state median ($1.6M/$875K), placing it in the premium segment. The price-to-income ratio of 15.6x is considered stretched. House prices have moved -6.1% year-on-year. Population growth of +1.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.