Question 1

Is Waterways a nice place to live?

Accepted Answer

Waterways is a small waterside residential enclave in Melbourne’s south-east centred on purpose-built wetlands, lagoons and canals that shape its streetscape. Native vegetation, boardwalks and walking and cycling paths give the suburb a strong nature focus, and abundant birdlife is a regular part of local life. Around 40% of the area is water and about 20% is parkland. Homes are generally modern and low-rise, many positioned for water or reserve views, and there are only limited shops inside the estate so cafes, services and public transport are accessed in neighbouring bayside suburbs.

With 2,422 residents and a median age of 41, Waterways is a suburb of families, led by couple families with children, and most dwellings are owner-occupied (about 88.9% combined). Typical household income is $3,013 a week. There are no significant new public infrastructure or civic-amenity projects noted for the suburb. If you value a quiet, outdoor-oriented, waterside setting and don’t need all services inside the estate, Waterways is likely to suit families and people after a nature-focused lifestyle.

Question 2

Is it expensive to live in Waterways?

Accepted Answer

Buying in Waterways sits well above local incomes at the last Census. The median house price of $1,820,000 is about 11.6 times a typical local household's annual income at the last Census, which is a high multiple against what people locally earned then.

Renting is comparatively less stretched: a house rent of $900 a week would take about 29.9% of a typical local household's weekly income at the last Census, roughly a third of that income. If you're renting rather than buying, that rent share is the figure that matters when weighing cost.

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

Question 3

Is Waterways a good place to invest?

Accepted Answer

House values in Waterways climbed 8.3% over the past 12 months, a solid rise in what a house is worth. For someone weighing Waterways as an investment, that figure speaks to capital growth over the year. The available figures do not report changes in rents or unit values, so this read focuses on houses; whether that 8.3% rise fits your goals and circumstances is for you to judge.

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.

	Houses	Units
Median price Past 3 months	$1.82M	N/A
Change in value Past 12 months	8.3%	N/A
Sold Past 3 months	11	N/A
Median days on market Past 12 months	37	N/A
Average rent Past 12 months	$900	N/A
Change in rent Past 12 months	N/A	N/A

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