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Waverley suburb profile

Waverley is an eastern suburb of Launceston in northern Tasmania, primarily residential and sitting on the city fringe where suburbia meets rolling hill country. The streets are a mix of established brick and weatherboard houses alongside more recent subdivisions, with medium-sized garden blocks that suit families and downsizers alike. Everyday life centres on local shops, parks and sporting grounds, while regular bus services and arterial roads make commuting into Launceston straightforward. The suburb feels quieter than inner suburbs, with a semi-rural backdrop and nearby bush reserves that offer outdoor recreation without leaving the urban catchment.

Waverley property market performance

Like many smaller suburbs, the area sees relatively few property sales, so there isn't enough recent data to publish a reliable median price for houses or units. House values rose sharply, up 21.2% over the last 12 months.

There were 7 house sales in the last 3 months, and houses sold in a median of 18 days over the last 12 months.

The rental market in Waverley recorded an average house rent of $498 a week.

HousesUnits
Median price
Past 3 months
N/AN/A
Change in value
Past 12 months
21.2%N/A
Sold
Past 3 months
7N/A
Median days on market
Past 12 months
18N/A
Average rent
Past 12 months
$498N/A
Change in rent
Past 12 months
N/AN/A

5 year median price trend for houses and units

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Waverley demographics

Waverley is home to 1,583 people and has a median age of 35. The typical household reports a weekly income of $1,007, which is about $52,364 a year.

Family types are quite evenly split. One-parent families are the largest single group at 33.6%, with couple families without children at 32.2% and couple families with children at 30.7%. Other families make up 3.5%. Put another way, roughly one in three households is a one-parent family, and no single family type overwhelmingly dominates.

Homes in Waverley are mostly owner-occupied: 27.5% are owned outright and 33.0% are owned with a mortgage, a combined 60.5% or about three in five households. Renters account for 39.5% of dwellings.

Suburbs near Waverley

Some popular suburbs near Waverley include:

  • Ravenswood: Leafy residential area with established streets and green reserves.
  • Newstead: Riverside suburb with parkland and views over the Tamar River.
  • Norwood: Quiet suburb featuring tree-lined streets and established family homes.
  • St Leonards: Semi-rural suburb with bushland pockets and a relaxed river outlook.
  • East Launceston: Established inner suburb of Launceston with period homes and mature gardens.

How does Waverley compare to nearby suburbs?

  • Median house prices: Waverley’s median house price is 2.0% higher than Ravenswood’s.
  • House price growth: Over the past 12 months, house prices in Waverley have grown 3.8% higher than in Ravenswood.
  • Selling speed for houses: Properties in Waverley are selling 14.3% faster than in Newstead.

Choose the right real estate agents in Waverley

There are 16 real estate agents in Waverley, but they don’t all deliver the same results.

Some agents have a much stronger presence in the suburb, with just 5 agents handling around 57.7% of all sales in the past year.

Commission rates in Waverley typically range from 2.38% to 3.25%. Comparing agents—including what they charge, what’s included, and how they structure their fees—is not only important when choosing an agent, the right structure can help ensure your chosen agent is motivated to achieve the best possible result.

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