Glen Waverley (postcode 3150) sits approximately 19 kilometres south-east of the Melbourne CBD within the City of Monash, one of Victoria's most established middle-to-outer eastern councils. Its SEIFA IRSAD score of 1079 places it in decile 9 of 10 nationally and at the 87th percentile within Victoria, firmly in the advantaged band. That reading reflects a suburb where household incomes, educational attainment, and occupational profiles sit well above both state and national averages. For investors, the score anchors three of PropertyRanker's twelve criteria at a favourable level, but it is the starting point for analysis, not the conclusion.
ABS 2021 IRSAD release. Score 1079 (national mean = 1000).
A SEIFA score of 1079 is 79 points above the national mean of 1000, which is a meaningful margin. In PropertyRanker's model, this feeds directly into economic_strength (the local income and employment base that underpins rental demand and price resilience), hazard_risk (higher-SEIFA areas correlate with lower rates of certain socioeconomic stressors), and entry_point_risk (the score signals a market where buyers are typically well-resourced, which tends to compress distressed-sale frequency but also compresses yield). That last point is the central tension for investors here. Glen Waverley's advantaged profile is well-established and broadly recognised, which means the market tends to price that quality in. The suburb is the council seat of the City of Monash, home to a major rail terminus, a large regional shopping centre, and some of Victoria's most sought-after public schooling. Those structural demand drivers are durable, but they are also well-known and therefore already reflected in asset pricing. Investors considering Glen Waverley should think carefully about strategy fit. The suburb's income profile and demand fundamentals align most naturally with a Capital Growth strategy, where PropertyRanker anchors gross yield expectations around 3.5 percent. Investors targeting Balanced (around 5 percent), High Yield (around 6 percent), or Regional (around 7 percent) yield thresholds will need to verify whether a specific listing can clear those hurdles, because the postcode-level SEIFA reading alone cannot confirm that. Townhouse and apartment stock near the station precinct may behave differently from detached housing further from the core, and the SEIFA score cannot distinguish between them.
Glen Waverley's house market remains firmly in positive territory, with propertyvalue.com.au (Cotality/CoreLogic) reporting a median sale price of $1.70M, up 4.1% over the past 12 months, while yourinvestmentpropertymag.com.au (CoreLogic data) puts the current median at $1,763,500 with 6.23% annual growth. Sales volume has softened, with Woodards recording 557 house sales over 12 months, down 6.7% year-on-year, though days on market are shortening and vendor discounting of -6.2% (propertyvalue.com.au) reflects vendors holding reasonable pricing power. The rental vacancy rate sits at 3.3% per melbz.com.au, suggesting a relatively balanced rental market.
Anchor points pulled per refresh from publicly available suburb profiles. Approximate; not a moving average.
Days on market are shortening (positive signal) but sales volume is down and vacancy is stable at 3.3%, producing a mixed picture that resolves to steady overall conditions.
Sources: Glen Waverley House Prices & Property Trends (2026-01-01); Glen Waverley, VIC Property Market & House Prices | Woodards (2026-01-01); Glen Waverley, VIC 3150: Suburb Profile & Property Report | YIP (2026-01-01); Glen Waverley VIC 3150 - Suburb Profile | In The Suburbs (2025-09-01); Glen Waverley Rental Market 2026 Guide | MELBZ (2026-03-24) · Refreshed 20 Sep 2026
PropertyRanker scores any Australian property against 12 criteria across three pillars: Growth, Cashflow, and Risk. SEIFA is a primary signal for economic strength and a supporting one for entry-price risk. It also informs the crime side of hazard risk, though physical overlays like flood, bushfire and coastal exposure, and recorded crime data where available, take priority there. The decile of 9 shown above gives a listing in Glen Waverley a stronger starting line on economic strength than the national median postcode, and a softer one on entry-price risk, since more advantaged postcodes usually carry higher entry prices.
On top of that, PropertyRanker chooses one of four strategies (Balanced, Growth, Yield, Regional) and applies a per-strategy yield anchor. The anchors are 3.5% for Growth, 5% for Balanced, 6% for Yield, and 7% for Regional. A postcode at this level of relative advantage tends to suit the Growth (3.5% anchor) and Balanced (5% anchor) strategies more readily than Yield (6%) or Regional (7%), because a higher entry price compresses the gross yield a listing can reach without a specific value-add.
Read the scoring guide for the full criteria list and how the verdict thresholds work.
SEIFA is a postcode-level read. The fastest sanity check on any single decile reading is to compare it against the suburbs that surround it.
Before drawing any conclusion from the SEIFA reading, investors should confirm several things at the listing level. First, check current SQM vacancy data for 3150 to understand whether rental demand is absorbing supply at the time of purchase. Second, for any strata or apartment title, obtain the owners corporation records and confirm body corporate health, sinking fund adequacy, and any pending special levies. Third, review flood and planning overlay status for the specific lot, particularly for properties near the Dandenong Creek corridor to the east of the suburb. Fourth, compare the asking price against recent comparable sales in the same street type and dwelling category, not just the broader suburb median. A strong SEIFA reading does not make a specific listing a sound investment, and a weaker listing within this postcode can still carry risks that the macro score cannot see. Score the specific listing in PropertyRanker to get a verdict that accounts for current vacancy, overlay status, body corporate health, and pricing against recent comparable sales.
Glen Waverley's SEIFA IRSAD score of 1079 (decile 9 of 10 nationally, 87th percentile in Victoria) signals a structurally strong economic base, which supports durable rental demand and price resilience over time. However, that same quality is widely recognised and tends to be priced into the market, which can compress gross yields. Whether a specific property here suits an investment strategy depends on the listing's price, rental income, and overlay status, not the suburb's SEIFA band alone. Score the specific listing in PropertyRanker to see how it performs across all twelve criteria.
The suburb's advantaged SEIFA profile and well-established demand drivers align most naturally with a Capital Growth strategy, where PropertyRanker anchors gross yield expectations around 3.5 percent. Investors targeting Balanced (around 5 percent) or High Yield (around 6 percent) thresholds will need to verify at the listing level whether the numbers stack, because the postcode's premium pricing tends to work against higher yield targets. Regional strategy thresholds of around 7 percent are unlikely to be achievable here without unusual circumstances.
The primary risk is entry-point pricing: a decile 9 SEIFA suburb is well-recognised by the market, and that recognition is typically reflected in asset values, which can limit yield and compress the margin for error on purchase price. Apartment and strata stock near the Glen Waverley station precinct carries additional body corporate and supply-concentration risk that the SEIFA score cannot detect. Properties near the Dandenong Creek corridor to the east of the suburb should also be checked for flood and planning overlays at the specific lot level.
PropertyRanker uses twelve scoring criteria, of which SEIFA IRSAD is a primary input for three: economic_strength, hazard_risk, and entry_point_risk. Glen Waverley's score of 1079 (decile 9, 87th percentile in Victoria) sets a favourable baseline for those three criteria. The remaining nine criteria draw on listing-level data including current SQM vacancy rates, body corporate health, flood and planning overlay status, and pricing against recent comparable sales, none of which a postcode-level SEIFA reading can capture.
Glen Waverley sits within the City of Monash alongside neighbours such as Mount Waverley (3149) and Notting Hill (3168), which share broadly similar council infrastructure and south-east Melbourne positioning. Wheelers Hill shares the 3150 postcode and a comparable socioeconomic profile within the same LGA. Differences in yield, vacancy, and overlay risk between these suburbs are more likely to show up at the listing level than at the SEIFA level, so comparing specific properties across these postcodes in PropertyRanker will give a more useful signal than comparing suburb-level scores alone.
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