Local LifestyleSuburb Profile

Suburb Spotlight: Waverley

By November 4, 2019 No Comments

Waverley is part of Sydney’s eastern suburbs. Waverley House, a distinctive landmark for the area, is the namesake for this suburb, its own name originating from owner Barnett Levey’s favourite book ‘Waverley’, by Sir Walter Scott. Nestled between the beaches and shopping centres there is something on offer for everyone. Today let’s shine a little light on what makes Waverley such a sought after suburb!

Location

Waverley is located only 7 kilometres east of Sydney’s Central Business District, and thanks to an extensive variety of transport options, trips to the city aren’t off the table. It falls under the local government area of Waverley Council; whose administrative centre is in the neighbouring suburb of Bondi Junction. Other suburbs surrounding the area include Bondi, Queens Park and Bronte.

Entertainment

Sports is a major drawcard for this area, with one of the most popular being the local eastern suburbs NRL team, the Sydney Roosters. They are one of the oldest and most successful teams in the league. Other sporting clubs located in, or representing the area include the Waverley Rugby Club, the Eastern Suburbs Cricket Club, Waverley Bowling Club, Bondi United and St Charles Waverley.

However, if sports aren’t for you, there is still far more on offer! The charming precinct of Charing Cross is a favourite for locals. Its cafes, convenience stores, hairdressers, fruit shops and restaurants mean you have everything you could need in the one spot. However, with Bondi Junction only a 15 minute walk or 3 minute drive away, don’t forget to visit the shops there too for some retail therapy. Not to mention that Bronte Beach is only a walking distance away whenever a beach getaway is on the cards.

Demographics

As reported by the Australian Bureau of Statistics, the population of Waverley currently comprises of 26.3% maturing singles, 15.6% independent youth and 11.8% elderly singles, showing that all ages love the lifestyle.

The 2016 census noted that there were approximately 4,349 residents, 65% singles, averaging 20 to 39 years old. Most households were occupied by the owners, but it was a fairly close call with 49% renting.

Current Market

When looking at the Waverley property market data published by realestate.com.au over the last 12 months it’s not surprising to note that this suburb is highly sought after, with 764 visits per property, compared to the NSW state average of 716 visits. If you’re looking to buy in the area the median property price fluctuates either side of $2.1 million, with 3 bedroom places being the most popular. Prospective tenants can expect to pay an average of $1,190 in rent per week.

Are you thinking about buying a property in Waverley? As a leading McGrath agent, partnered with a wealth of industry knowledge to draw upon, feel free to reach out to my team and we will be happy to cover any of your property needs.

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