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Glen Waverley suburb profile

Located in Melbourne's eastern suburbs, Glen Waverley is an established, family-oriented neighbourhood centred on a lively town centre around The Glen shopping centre and the Kingsway dining and entertainment strip. The suburb mixes mid-century brick homes and weatherboard cottages with contemporary townhouses and redevelopment on larger blocks, set among tree-lined streets and local parks. Regular trains on the Glen Waverley line and connections to major roads and the Monash Freeway make commuting straightforward. Residents appreciate the everyday convenience of shops, a wide choice of restaurants, community sporting clubs and good local schools, making it a practical choice for families and professionals.

Glen Waverley property market performance

Current median dwelling price$1,200,972Past 3 months

Property growth+3.7%Past 12 months

The median house price in Glen Waverley is $1.56 million and the median unit price is $845,000. House values rose a modest 4.2% over the last 12 months, while unit values rose a modest 3.2%, so values for both property types moved at a similar pace.

Over the last 3 months 113 houses and 41 units sold. Houses had a median days on market of 52 over the last 12 months and units 43, so they sold in a similar time.

In Glen Waverley the rental market saw house rents average $800 a week and unit rents $690 a week over the last 12 months. House rents rose a solid 6.7% and unit rents rose a solid 6.2% over the last 12 months, so rental growth was at a similar pace for both types.

HousesUnits
Median price
Past 3 months
$1.56M$845K
Change in value
Past 12 months
4.2%3.2%
Sold
Past 3 months
11341
Median days on market
Past 12 months
5243
Average rent
Past 12 months
$800$690
Change in rent
Past 12 months
6.7%6.2%

5 year median price trend for houses and units

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Glen Waverley demographics

Glen Waverley is home to 42,642 people, with a median age of 40 and a typical household income of $1,918 a week, which is about $99,700 a year.

Families are dominated by couples: 52.3% are couple families with children and 32.7% are couple families without children, so couples make up 85.0% of reported families. One-parent families account for 13.6%, and other families 1.4%.

Homes in Glen Waverley are mostly owner-occupied — roughly 71.9% when owned outright (42.5%) and owned with a mortgage (29.4%) are combined — while 28.1% of dwellings are rented.

Glen Waverley infrastructure, key developments and investment opportunities

Glen Waverley is a defined Suburban Rail Loop East precinct, with an SRL underground station planned for the suburb and a Glen Waverley Structure Plan and implementation plan prepared to guide growth around that station. State planning approvals for the SRL East precincts were completed in mid-2026, and major tunnelling and station box works for the SRL are scheduled to start in late 2026, with Glen Waverley identified for associated bus interchange upgrades, new pedestrian and cycling links, and concentrated housing growth around the station.

Separately, Monash City Council is advancing the Glen Waverley Civic Precinct project to replace the ageing library with a new library, community meeting spaces and improved public open space; ARM Architecture was engaged to prepare schematic designs and the project has secured a Living Libraries Infrastructure grant. Council and SRL planning documents also identify upgrades to local open space and trails, including Bogong Reserve, the Scotchmans Creek Trail and the Glen Waverley Rail Trail, and encourage provision of affordable and social housing in the activity centre.

Suburbs near Glen Waverley

Some popular suburbs near Glen Waverley include:

  • Vermont South: Leafy suburb known for extensive parkland and family-friendly reserves.
  • Mount Waverley: Established, residential suburb with tree-lined streets and local parks.
  • Burwood East: Suburban area with large reserves and a mix of housing types.
  • Notting Hill: Compact suburb blending residential streets and light-industrial areas.
  • Wheelers Hill: Large, leafy suburb home to Jells Park and extensive recreational reserves.

How does Glen Waverley compare to nearby suburbs?

  • Median house prices: Glen Waverley’s median house price is 8.5% higher than Vermont South’s.
  • Median unit prices: Glen Waverley’s median unit price is 28.5% higher than Burwood East’s.
  • House price growth: Over the past 12 months, house prices in Glen Waverley have grown 1.5% higher than in Vermont South.
  • Unit price growth: Over the past 12 months, unit prices in Glen Waverley have grown 5.6% higher than in Mount Waverley.
  • Selling speed for houses: Properties in nearby Vermont South are selling 15.4% faster than in Glen Waverley.
  • Selling speed for units: Properties in nearby Mount Waverley are selling 14.0% faster than in Glen Waverley.
  • Investment considerations: In Glen Waverley, the rental yield for house is 26.2% higher than the Melbourne average, while the rental yield for units is 16.9% higher.
  • House price growth: Over the past 12 months, house prices in Glen Waverley have grown 67.8% higher than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Glen Waverley have grown 35.9% higher than the average rate of growth for units across Melbourne.

Common questions about Glen Waverley

  • Is Glen Waverley a nice place to live?

    Glen Waverley is an established, family-oriented suburb in Melbourne's east centred on The Glen shopping centre and the Kingsway dining and entertainment strip. It blends mid-century brick and weatherboard homes with contemporary townhouses, with tree-lined streets, parks and community sporting clubs. Regular trains on the Glen Waverley line and links to major roads and the Monash Freeway, together with schools and shops, make daily life convenient. Population 42,642; median age 40; about 71.9% owner-occupied.

    The suburb is a defined Suburban Rail Loop East precinct with an SRL underground station planned and a structure plan to guide growth around it, including bus interchange, pedestrian and cycling upgrades and more housing near the station. Council is also advancing a Civic Precinct project to replace the library with a new library, community meeting spaces and improved public open space. Whether Glen Waverley suits you depends on what you value in a suburb.

    Down Pointer

  • Is it expensive to live in Glen Waverley?

    On these figures for Glen Waverley, buying sits well above what a typical local household earned at the last Census: the median house price of $1,556,944 is about 15.6 times a typical local household's annual income at the last Census, and the median unit price of $845,000 is about 8.5 times that annual income. Renting also takes a notable share of local income: an average house rent of $800 a week would be roughly 41.7% of a typical local household's weekly income at the last Census, while an average unit rent of $690 a week would be about 36.0%.

    Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

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  • Is Glen Waverley a good place to invest?

    Over the past 12 months house and unit values in Glen Waverley rose modestly, with house values up 4.2% and unit values up 3.2%. Rents climbed faster than prices over the same period: house rents increased a solid 6.7% and unit rents rose a solid 6.2%. That means rental income outpaced capital growth this year, and houses edged units on both value and rent movement.

    If you are focused on capital growth, the value changes are most relevant; if rental income is your priority, the rent figures matter more. Whether that balance suits your investing goals and circumstances is for you to decide.

    This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

    Down Pointer

Choose the right real estate agents in Glen Waverley

Choosing the right real estate agent in Glen Waverley can have a big impact on your sale. While there are 190 real estate agents working in the suburb, but just 5 of them were responsible for 26.9% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 1.71% to 2.57%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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