Glen Waverley

POSTAL CODE: VIC, 3150
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Property investors enjoyed capital gains of 3.93% over the last 12 months in GLEN WAVERLEY, translating to lower returns compared with its peers in VIC.

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

The suburb posted a 10% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.

This number can mean, real estate investors could earn a rental income of $750 based on current median home prices for the suburb.

On average, rents on listings have reached the $750 mark, reflecting a 2.25% increase in returns based on the current median price in GLEN WAVERLEY.

GLEN WAVERLEY, 3150 ranks 322nd in VIC in terms of median property value increase and capital gains, based on year-to-date figures.

While it ranks 536th on the list of best yielding suburbs for rental properties in VIC, posting a 2.25% return.

Surburb overview

Glen Waverley is a central middle-ring suburb in Melbourne’s south-east, located within the City of Monash. The suburb lies approximately 19 kilometres south-east of the Melbourne central business district and functions as a significant residential, commercial and educational centre within the municipality.

Glen Waverley recorded a population of more than 40,000 residents at the 2021 census, making it one of the most populous suburbs in the south-eastern corridor. The demographic profile reflects a diverse community, with a high proportion of family households and residents born overseas, particularly from East and South-East Asia. Median household incomes are above the metropolitan average, and educational attainment levels are high.

Housing in Glen Waverley is varied, with detached houses on larger blocks forming much of the traditional streetscape, alongside a substantial increase in townhouses and apartment developments. Higher-density housing is concentrated near the town centre, transport nodes and major roads.

Public transport access is a defining feature, with Glen Waverley railway station serving as the terminus of the Glen Waverley line and providing direct train services to the CBD. The station is integrated with a bus interchange that connects surrounding suburbs and employment areas.

Road access is supported by major arterial routes, including Springvale Road, Blackburn Road and the Monash Freeway, which facilitate regional travel but experience congestion during peak periods.

The Glen Waverley Activity Centre is a key commercial precinct, containing supermarkets, retail stores, medical centres, professional services and a concentration of dining venues along Kingsway. Additional shopping and employment opportunities are available at nearby centres such as The Glen Shopping Centre.

Educational facilities are a significant drawcard, with multiple government and non-government primary and secondary schools located within the suburb. Proximity to Monash University further influences local travel and employment patterns.

Recreational amenities include Jells Park, Hinkler Reserve and a network of shared walking and cycling paths. Sporting ovals, leisure centres and open spaces support both organised sport and informal recreation.

Glen Waverley’s role as a transport hub, education precinct and activity centre underpins its position as a key middle-ring suburb within Melbourne’s south-east.

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