Get a property report and suburb profile for any property in Mount Waverley

Mount Waverley is an established, family-oriented suburb in Melbourne’s eastern suburbs within the City of Monash. It has leafy streets and a mix of mid-20th century brick bungalows and weatherboard cottages alongside renovated family homes and newer townhouses clustered near the station, and the suburb centres on Mount Waverley Village with shopping strips on Stephensons Road.

It is a suburb of families, with couple families with children the largest household group (52.0%), and about three in four households owner-occupied. Served by Mount Waverley station on the Glen Waverley line and linked to major roads, the area appeals to commuters and people who value parks, sporting clubs and everyday convenience. Scotchmans Creek and surrounding reserves provide walking and cycling trails, and council-led projects are improving active-travel links and the station precinct while schools, the library and the community centre have recent or planned upgrades. Whether it suits you depends on the kind of suburb you want to live in.

On the figures, buying in Mount Waverley sits well above what a typical local household earned at the last Census. A median house price of $1,494,000 is about 13.9 times a typical local annual household income at the last Census, while the median unit price of $850,500 is about 7.9 times that income.

If you are renting, a house at $800 a week would take about 38.7% of a typical local weekly household income at the last Census, a sizeable share, and a unit at $600 a week would take about 29.0%, a moderate share. So buying is well above local incomes on these figures, and renting also takes a substantial portion of household income, particularly for houses. Whether that feels expensive depends on your own income and circumstances.

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

Over the past 12 months in Mount Waverley, rental income moved ahead even as prices eased. House rents recorded a solid 6.7% rise and unit rents increased a moderate 3.4%, while median house values edged down by a slight 1.0% and median unit values declined by a modest 2.3%.

Put simply, the rental side was the stronger performer over the year, especially for houses. If rental income is your priority, those rent movements are the numbers that matter; if you are focused on capital growth, the value figures show small declines over the same period — whether that fits your 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.