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Mount Waverley

POSTAL CODE: VIC, 3149
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A survey of average capital gains or median home price increase in suburbs across the country shows that the VIC suburb obtained a 2.71% growth over a ten-year period. It ranks 3608th on our list of suburbs that property investors should look into.

MOUNT WAVERLEY, 3149 has a capital gain of -0.25% for the past year, which is lower than average compared to its 24.28% growth within a five-year period.

With the median home price in MOUNT WAVERLEY sitting at $1,618,000, and the average rent at $720, property owners could potentially earn a 2.31% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in MOUNT WAVERLEY are low, as opposed to average gains per annum over the past five years.

MOUNT WAVERLEY, 3149 in VIC belongs to the local government area of Monash.

Surburb overview

Mount Waverley is an established middle-ring suburb in Melbourne’s south-east, located within the City of Monash. The suburb is situated approximately 16 kilometres south-east of the Melbourne central business district and is bordered by Glen Waverley, Chadstone, Burwood and Ashwood.

Mount Waverley recorded a population of around 35,000 residents at the 2021 census, making it one of the larger residential suburbs in the municipality. The demographic profile includes a high proportion of families and professional households, with a median age slightly above the metropolitan average.

Home ownership rates are high, reflecting long-term settlement patterns and comparatively low residential turnover. Housing in Mount Waverley is predominantly detached dwellings on traditional suburban blocks, with townhouse developments and low-rise apartments increasingly evident near activity centres and main roads. Residential density remains moderate overall, with established streetscapes forming a key part of the suburb’s character.

Public transport access is provided by Mount Waverley railway station on the Glen Waverley line, offering direct train services to the Melbourne CBD. Additional bus services operate throughout the suburb, connecting residential areas to nearby shopping centres, schools and surrounding suburbs.

Road access is supported by major arterial routes including Blackburn Road, Stephensons Road and the Monash Freeway, which facilitate travel across Melbourne’s south-east.

Local retail and services are centred on Mount Waverley Village, which includes supermarkets, cafés, medical clinics and everyday specialty shops. Additional shopping and commercial facilities are accessible in neighbouring suburbs such as Glen Waverley and Chadstone.

Educational facilities are a significant feature, with several government and non-government primary and secondary schools located within Mount Waverley and nearby areas.

Recreational amenities include Valley Reserve, Damper Creek Reserve and other local parks that support walking, organised sport and informal recreation. Shared walking and cycling paths connect reserves and residential areas to broader open space networks.

Employment among residents spans professional services, education, health care, retail and trades, with many commuting to employment hubs across metropolitan Melbourne.

Mount Waverley’s combination of transport access, family-oriented housing and established community infrastructure defines its role as a long-standing residential suburb within Melbourne’s south-east.

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