Mount Waverley is a large suburb in Victoria within the Monash local government area (postcode 3149). The area has roughly 35,340 residents and an established family demographic, with a median age of 40. Households earn a median income of $107K per year, with an average household size of 2.7 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 professional services and healthcare. The top ancestries reported are Chinese, English, Australian.
The median house price in Mount Waverley is $1.6 million, having ticked up by 0.9% over the past year. Units have a median price of $865,000 (-19.6% YoY). The current median weekly rent is $695. This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,600.
Mount Waverley is served by 10 schools, including 7 primary, 2 secondary, 1 combined. The average ICSEA score is 1145, which is well above the national average of 1,000. Public transport access includes 7 rail stations, 114 bus stops. Healthcare facilities include 1 private hospital. The crime rate in the Monash LGA is moderate at 7,127 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 2.2%, which reads 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 15.0x is considered stretched. House prices have moved +0.9% 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.