Waterways
Household incomes sit at the 97.2nd percentile nationally, a striking marker for a suburb of 2,422 people. Waterways is shaped by premium detached housing, with 87.9% of dwellings separate houses and 73.9% containing 4 or more bedrooms. Overseas-born residents account for 44.7%, which is 23.1 percentage points above the national figure. Compared with nearby Parkdale and Mordialloc, Waterways is a small, high-income pocket where substantial family homes, overseas migration and long-term owner occupancy define the local profile.
Local council: Kingston (Vic.)
Population
2,422
Median Age
41.0
Household IncomeiMedian weekly household income (ABS Census)
$3,013/wk
DAs (12 months)iDevelopment Applications lodged in the past year
2
Median House
$1.7M
October to December 2025
Waterways suits buyers seeking larger detached homes, but the entry point is high. Mortgage costs are listed at $2,500 per month, and mortgage repayments equal 19.2% of household income, below the 20.7% rent-to-income figure, helping explain why 58.5% of households hold a mortgage.
For Buyers
Waterways suits buyers seeking larger detached homes, but the entry point is high. Mortgage costs are listed at $2,500 per month, and mortgage repayments equal 19.2% of household income, below the 20.7% rent-to-income figure, helping explain why 58.5% of households hold a mortgage.
For Investors
Waterways has a low-rental, established-market profile rather than a high-turnover investor base. Only 11.0% of households rent, the weekly median rent is $623 and vacancy is 3.8%, so limited rental supply may support tenant demand. Rents have grown 34.2%, compared with the suburb's 0.54% forecast annual growth rate, making income performance more compelling than population expansion alone. Overseas migration is the primary growth driver, while just 2 planning permits were recorded in the latest 12-month period.
Development Activity
Total DAs
2
Last 12 Months
2
YoY ChangeiYear-over-year change in DA lodgements
—
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
Waterways has a median age of 41, only 1.0 year above the national figure, but its household structure is strongly family-oriented. Couples with children make up 64.3% of families, average household size is 3.3 people, and 89.1% of residents stayed at the same address over the reference period. University-educated residents account for 53.7%, which is 23.6 percentage points above the national level. Overseas-born residents comprise 44.7%, 23.1 points above national, with Chinese, Indian, English and Scottish ancestry prominent. Mandarin is the leading listed language at 101 speakers, followed by Khmer at 42.
Age Distribution
Bedrooms
Dwelling Structure
87.9%
Houses
12.1%
Townhouse
0.0%
Apartment
Tenure
Waterways is overwhelmingly a large-home market: 87.9% of dwellings are separate houses, 12.1% are semi-detached, and 73.9% contain 4 or more bedrooms. Across 20 quarters, the compound annual growth rate was 4.9%. Compared with its earlier price base, this is substantial long-term appreciation, although the recent peak-to-latest decline shows that premium housing can move unevenly. Tenure is mortgage-led, with 58.5% paying a mortgage, 29.9% owning outright and only 11.0% renting.
Mortgage / mo
$2,500
Rent / wkiABS Census 2021 median across all dwelling types. Current market rents are typically higher.
$623
Census 2021
HH Size
3.3
Personal Income / wk
$960
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
3.8%
Unoccupied
28
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
20.7%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
19.2%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
64.3%
Couples with children
24.6%
Couples, no children
10.2%
Single parent
686
Total families
Economy & Employment
Waterways combines high household resources with a professional and service-based workforce. Healthcare is the largest listed industry at 17.8% and 162 workers, followed by Professional and Technical Services at 11.4% and 104, Retail at 9.9% and 90, Education at 8.9% and 81, and Manufacturing at 8.3% and 75. Professionals number 362 and managers 278, while clerical and administrative workers total 176. Labour-force participation is 71.8%, full-time employment is 62.6% and unemployment is 4.6%. SEIFA results are higher than the national midpoint, with IEO decile 8, IER decile 10, IRSD decile 9 and IRSAD decile 9, consistent with high incomes and concentrated professional employment.
Unemployment
4.6%
Labour Force
1,400
Unemployed
65
Source: ABS Census 2021
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
62.6%
Part-time
32.2%
Participation
71.8%
Employed
1,335
Full-time and part-time are shares of the employed. Source: ABS Census 2021
Occupations
Top Industries
University
53.7%
Postgraduate
14.0%
Born Overseas
44.7%
Dwellings
709
Transport to Work
Waterways provides a quiet, car-oriented setting with strong socioeconomic conditions. Car drivers account for 59.2% of journeys, compared with 1.9% using public transport and 0.4% walking or cycling, while 34.7% work from home. That pattern suits households with private vehicles but is less convenient for residents seeking frequent active or public transport trips. Recorded crime was 38.0 offences per 1,000 residents, comprising 92 offences, including 54 property and deception offences and 27 crimes against the person. IRSAD sits in decile 9, higher than the national midpoint, and mortgage stress is not flagged at 19.2% of household income. Check enrolment zones against the exact address because they can cross suburb boundaries.
Drive
59.2%
Public Transport
1.9%
Walk / Cycle
0.4%
Work from Home
34.7%
Growth Outlook
Waterways is on an established, aging trajectory rather than a rapid redevelopment path. Forecast annual growth is 0.54%, below the historical 4.9% compound annual price growth, so housing appreciation and population change are likely to remain different stories. Overseas migration is the primary growth driver, while population change across the wider area is forecast at 1.1% over 10 years. The shift profile records a 6.5% increase in the senior share and a 5.1% decline in the young share, because established family housing is increasingly occupied by older households. Gentrification is not currently identified, with a score of 0 and a stage of Not gentrifying.
Population trend: Kingston (Vic.) council area
Waterways sits in the Kingston (Vic.) council area. These are the council area's residents, not Waterways's.
Residents 2025
168,061
Growth, 5 yr average
+0.6%/yr
2020 to 2025
Growth, last year
+1.2%
2024 to 2025
ABS Estimated Resident Population by LGA, 30 June each year; council area, not this suburb
Safety & Crime
Total Offences
92
Year ending June 2024
Rate per 1,000 People
38.0
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Waterways compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Waterways a good suburb to live in?
Waterways suits households wanting large homes and a stable setting. Separate houses make up 87.9% of dwellings, 73.9% have 4 or more bedrooms, and IRSAD is in decile 9. The trade-off is car dependence, with 59.2% driving and only 1.9% using public transport.
What schools are in Waterways?
There are 0 listed school sites within Waterways itself. Families should check the designated enrolment zone for each address and compare nearby government, Catholic and independent options, because school access can cross suburb boundaries and the closest campus may not determine eligibility.
Is Waterways safe?
Waterways recorded 92 offences at a rate of 38.0 per 1,000 residents. Property and deception offences accounted for 54 incidents, while crimes against the person accounted for 27. These figures provide context, but household security, street conditions and current Victoria Police information should also be considered.
How is Waterways's population changing?
Waterways has a current population of 2,422. Forecast annual growth is 0.54%, with overseas migration the primary driver, while wider-area population change is 1.1% over 10 years. The trajectory is aging, with the senior share up 6.5% and the young share down 5.1%.
What languages are spoken in Waterways?
Mandarin is the leading listed language, spoken by 101 residents, followed by Khmer at 42, Greek at 35, Cantonese at 34 and Hindi at 27. Overseas-born residents represent 44.7% of the population, which is 23.1 percentage points above the national figure.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), Valuer-General Victoria (house prices), state education open registers (school locations), state Crime Statistics agencies (offences), council DA portals (development applications).
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