Waterways at a glance
Median house
$1,635,000
Median unit
$348,480
Population
2,422
Median age 41
The brief
What to know about Waterways.
The postcode for Waterways is 3195 (VIC), part of Greater Melbourne.
The median house price in Waterways is $1,635,000.
Waterways (3195) sits in the Kingston region of Victoria. The median house here is $1,635,000, well above the Victoria median of around $850K.
Waterways has roughly 2,422 residents, with a typical family-age mix. Households are predominantly owner-occupied.
Side by side
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Day to day
What it’s like to live here.
Summer days here average around 26°C (mild), winter mornings around 7°C (cool). Annual rainfall lands at about 639mm. Data comes from the Bureau of Meteorology's Melbourne (Olympic Park) station, 64.9km away.
Schooling within or near the suburb covers 9 government primary, 2 government secondary, 4 Catholic, 4 independent.
Who lives here
Demographics.
The 2021 Census put Waterways's population at 2,422, with a median age of 41. That sits as a typical family-age mix. Households are predominantly owner-occupied (88% own, 11% rent), which shapes everything from school catchment stability to how often properties turn over. The household mix skews family-dominated (93% family households, 6% lone person), so amenity decisions tend to follow what families want: parks, schools, supermarkets.
Population
2,422
Median age
41
Family households
93%
Lone person
6%
Demographics data as of May 2026· ABS 2021 Census
Houses change hands at $1,635,000 on a typical sale, well above the Victoria median. Units come in around $348,480, roughly 79% below the house median.
For buyers
A 20% deposit on the median house works out to roughly $327,000. Prices sit well above the Victoria median, so plan for a stretched deposit and shop carefully on borrowing capacity.
Market
The price of a home here.
Median house price
$1,635,000
+0.0% over the past year. Median unit price $348,480.
Sales data as of May 2026· sales-vic
Rental and ownership
Weekly rent (house)
$421/wk
Weekly rent (unit)
$623/wk
Owner occupied
88%
Renter occupied
11%
At a deeper level
$1,635,000
$348,480
2,422
Median age: 41
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For investors
Investment overview.
Gross rental yield on houses sits at 1.34% (median rent $421/wk against a $1,635,000 price tag). Units yield 9.30% gross, often the better cash-flow play for first-time investors. Renter share is modest (11%), so the rental pool is smaller and tenant demand can be patchier than in higher-density suburbs.
Gross Yield (House)
Source: Land Victoria / DTP · May 20261.34%
Based on $1,635,000 median
Gross Yield (Unit)
Source: Land Victoria / DTP · May 20269.30%
Based on $348,480 median
Annual Growth (House)
Source: Land Victoria / DTP · May 2026–
Year-on-year capital growth
Annual Growth (Unit)
Source: Land Victoria / DTP · May 2026–
Year-on-year capital growth
Owner Occupancy
Source: ABS Census 2021 · May 202688%
Higher = more owner-occupier demand
Days on Market
Source: Land Victoria / DTP · May 2026–
Lower = higher buyer demand
Gross rental yield is annual rent divided by purchase price, before expenses. It does not account for vacancy rates, management fees, maintenance, or financing costs. Use this as a starting point for further research.
Safety
Crime and safety.
74
total offences in 2025
Top offence categories
Crime statistics are reported at LGA level and may cover a broader area than this suburb.
Source: State Police Open Data
Crime data as of December 2025· State Police Open Data
Place
Location.
Amenities
Transport
Education
Schools in Waterways.
Local schools for Waterways
View the catchment for each school to find out more.
Government School Catchment
Aspendale Gardens Primary School
Aspendale Primary School
Keysborough Gardens Primary School
© ACARA, licensed under CC BY 4.0.
Climate
Weather year-round.
Annual Rainfall
639 mm
Hottest Month (avg max)
26.0°C
Coldest Month (avg min)
6.5°C
Monthly Rainfall (mm)
Weather data from BOM station Melbourne (Olympic Park) (65 km away)
Climate data as of May 2026· Bureau of Meteorology
Frequently asked
About Waterways.
- What is the median house price in Waterways?
- The median house price in Waterways, VIC 3195 is $1,635,000. The median unit price is $348,480.
- What is the Waterways postcode?
- Waterways is in the 3195 postcode, in VIC, in the City of Kingston region.
- Where is Waterways?
- Waterways is a suburb of Melbourne, in VIC 3195. It is part of the Greater Melbourne area, in the City of Kingston region.
- What is the average rent in Waterways?
- The median weekly rent for houses is $421, for units it's $623.
- What schools are in Waterways?
- There are 20 schools serving Waterways on this page, including Aspendale Gardens Primary School, Lighthouse Christian College, St Louis de Montfort's School.
- What suburbs are near Waterways?
- Waterways is close to Aspendale Gardens, Braeside, Aspendale, Edithvale, Mordialloc.
- What is the population of Waterways?
- The population of Waterways is approximately 2,422 (2021 Census). The median age is 41.
For Sale
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Sources cited
Median, growth and rental data from state revenue offices and ABS. Census from ABS 2021. Climate from BoM. Hazard from Geoscience Australia. School data from ACARA. Crime from state police open data. Full methodology →
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