Suburb Deep Dives · 25 October 2026 · 6 min read
Waaia (VIC 3637) in Focus 2026: Is It a Good Investment? R-Score 97/100, 7% Yield & Best Streets
Data analysis by the Ripehouse research desk · Reviewed by Anna Cooper, Co-Founder & COO, former Managing Editor of Australian Property Investor Magazine
Is Waaia (VIC 3637) a good suburb to invest in 2026? Our October 2026 quantitative audit scores Waaia at 97/100 (Ranked #519 of 15,286 suburbs), with a $385,000 median house price (-8.8% 12m), $375/wk rent (7% yield), and 14 top-tier streets scoring 75–100/100.
Market Classification: High-Yield & Momentum Sweet Spot · R-Score: 97/100 (National Rank #519 of 15,286) · Street Average: 100/100 across 28 streets.
In a 6%+ interest rate environment, most Australian suburbs force investors to choose between capital growth momentum and holding cashflow. Waaia is one of the rare markets in VIC currently delivering both: a 97/100 R-Score paired with a 7% gross rental yield at a $385,000 median price. That yield profile preserves bank borrowing serviceability so investors can sequence their next acquisition without a punishing cashflow deficit.
“I’d focus less on the 7% gross yield and more on the 480-day selling period. With rents unchanged at $375 and an 80% LVR cashflow of minus $77 a week, buyers need to select streets carefully and budget for patience, not just entry price.”
Below is our full October 2026 quantitative and street-level breakdown for Waaia (VIC 3637), combining 36 months of settled price and rental history from our Aurora research warehouse, council-level supply and employment data for Moira (VIC), and block-by-block ABS 2021 Census SA1 tenure and yield rankings across 240 residential addresses.
1. Waaia (VIC) 3-Year Market Trajectory & 27-Indicator R-Score (October 2026)
As of October 2026, Waaia records a settled median house price of $385,000. On the rental side, median weekly asking rents moved +0% over the past year to $375/wk, equating to a 7% gross rental yield. Compared with 12 months ago—when Waaia carried an R-Score of 95/100—its current composite R-Score of 97/100 represents a +2-point shift in underlying market pressure.
| Indicator / R-Score Pillar | Waaia (VIC) Current | 12-Month / 36-Month Context |
|---|---|---|
| Composite Suburb R-Score | 97 / 100 | Ranked #519 of 15,286 suburbs (was 95/100 12m ago) |
| Median House Price | $385,000 | 12m change: -8.8% |
| Median Weekly Rent & Gross Yield | $375/wk (7%) | 12m rent change: +0% |
| Rental Vacancy & Days on Market | 4.2% vacancy | Median selling time: 480 days on market (1.5% vacancy is the tight-market line) |
| Pillar 1: Buyer Demand | 25 / 100 | Measures days-on-market compression, vendor discounting & sales velocity |
| Pillar 2: Supply & Ownership | 57 / 100 | Measures stock on market, building approvals vs stock & owner-occupier share |
| Pillar 3: Price Momentum | 70 / 100 | Measures short/medium-term price velocity vs Moira & VIC |
| Pillar 4: Yield Pressure | 61 / 100 | Measures gross rental yield, rent trajectory & vacancy compression |
2. The “Two-Speed Suburb” Test: Best & Worst Streets in Waaia (VIC)
Why do two 4-bedroom houses in Waaia achieve completely different bank valuations and tenant quality? Because suburb medians blend every pocket together. When we map all 240 addresses across 28 streets in Waaia through G-NAF to their ABS 2021 Census SA1 blocks, the suburb splits into three distinct tiers:
- Strong Street Profile (Score 75–100): 14 streets (100% of scored streets) pass both ABS Census tenure tests (owner-occupiers >65% and public housing ≤5%) plus at least one—or both—of the Waaia rent and yield benchmarks.
- Mid / Mixed Street Profile (Score 50–74): 0 streets pass the core owner-occupier and public-housing thresholds but sit below the suburb median on weekly rent or yield.
- Weaker / Caution Street Profile (Score 0–25): 0 streets fail one or both census tenure thresholds—meaning either owner-occupation sits at or below 65% or state/community public housing exceeds 5% on those specific SA1 blocks.
Top 5 Highest-Scoring Streets in Waaia (VIC)
These streets sit in SA1 census blocks with high homeowner pride of ownership, minimal social housing concentration, and strong block-level rents (inspect all 28 streets in Waaia):
| Top Street in Waaia | Street Score | Addresses | Owner-Occupiers | Public Housing | SA1 Rent & Yield |
|---|---|---|---|---|---|
| #1 Waaia-Bearii Road | 100/100 | 45 | 79% | 0% | $16165/wk (336.2%) |
| #2 Centre Road | 100/100 | 17 | 79% | 0% | $16165/wk (336.2%) |
| #3 North Street | 100/100 | 16 | 79% | 0% | $16165/wk (336.2%) |
| #4 Hawkers Road | 100/100 | 15 | 79% | 0% | $16165/wk (336.2%) |
| #5 Tyacks Road | 100/100 | 15 | 79% | 0% | $16165/wk (336.2%) |
3. Economic & Supply Drivers in Moira Council (Victoria)
Waaia sits within the Moira Local Government Area, which has a residential population of approximately 30,866 (+1.3% population movement over the past 3 years) and 13,794 total dwellings. Three council-level fundamentals shape Waaia’s medium-term outlook:
- Local Employment Diversity (ABS Census): The largest employment sectors across Moira are Agriculture, Forestry and Fishing (19%), Manufacturing (14%), Health Care and Social Assistance (11%), Retail Trade (11%). Multi-sector employment reduces reliance on any single employer or commodity cycle.
- New Building Approvals vs. Existing Stock: Over the latest 12-month financial year, Moira approved 2.9% new dwelling stock (~402.856 dwellings). Because new approvals exceed 1.8% of stock, investors in Waaia must avoid generic greenfield house-and-land pockets and stick to established, built-out streets.
- State Comparison: Compare Waaia against the Top 25 Highest R-Score Suburbs in VIC.
4. Worked Cashflow, Deposit & 80% LVR Stress-Test for Waaia (October 2026)
What does it actually cost to acquire and hold a typical house in Waaia at today’s median price of $385,000 and median rent of $375/wk? Below is the baseline 80% Loan-to-Value Ratio (LVR) model we use to stress-test serviceability before shortlisting a property:
| Cashflow & Capital Item | Waaia Worked Figure | Assumptions & Notes |
|---|---|---|
| Purchase Price (Suburb Median) | $385,000 | Settled house median as of October 2026 |
| 20% Deposit + Est. Stamp Duty & Costs | $95,480 | $77,000 deposit (80% LVR) + ~$18,480 stamp duty, legal & inspection allowance (can be funded via usable home equity) |
| 80% LVR Loan Amount | $308,000 | Standard no-LMI investor loan threshold |
| Gross Annual Rental Income | $19,500/yr ($375/wk) | 7% gross rental yield before vacancies and expenses |
| Est. Annual Interest + Operating Costs | $23,485/yr | Assumes 6.25% interest-only ($19,250/yr) + ~1.1% for council rates, insurance & property management ($4,235/yr) |
| Pre-Tax Weekly Cashflow Position | -$77/wk top-up | Before tax deductions / depreciation (confirm post-tax position with your accountant) |
5. Who Should Buy in Waaia—And 3 Rules Before You Make an Offer
Rare Convergence of 5%+ Gross Rental Yield and Top-Quartile Demand. Based on our October 2026 data, Waaia is best suited to first-time property investors, homeowners unlocking $150k–$250k in equity, and second/third property buyers who need strong rental yield (7%) to preserve bank borrowing capacity while capturing capital growth.
- Never Buy Blind on the Suburb Median: In Waaia, 0 streets score below 50/100 on our census tenure and yield tests. Always run the exact street through the Waaia Street Score Hub and target the 14 streets scoring 75–100/100.
- Check Lot-Level Overlays (Flood, Bushfire, Slope & Easements): Even on a 100/100 streetlike Waaia-Bearii Road, individual lots can carry overland flow paths, steep gradients, or sewer easements that restrict granny-flat additions or spike insurance premiums.
- Price Against Street-Matched Settled Comparables: Do not let a selling agent justify an asking price on a 25/100 street using comparable sales from a 100/100 street. Compare settled sales within the same SA1 Street Score band.
If there's a specific street you're weighing up right now, check its Street Score first — it's free, takes ten seconds, and tells you whether that street is pulling the suburb average up or riding on it.
Frequently asked questions
Is Waaia (VIC 3637) a good suburb for property investment in 2026?
As of October 2026, Waaia (VIC 3637) scores 97/100 on the 27-indicator Ripehouse R-Score (ranked #519 of 15,286 Australian suburbs). It is classified as a High-Yield & Momentum Sweet Spot with a median house price of $385,000, median rent of $375/wk (7% gross yield), and vacancy rate of 4.2%.
How have house prices and rents performed in Waaia over the past 1 to 3 years?
Over the past 12 months, Waaia’s median house price moved -8.8% to $385,000. Median weekly asking rents moved +0% over the past year to $375/wk (7% gross yield).
What are the highest and lowest scoring streets in Waaia, VIC?
Across 28 streets (240 addresses) in Waaia, 14 streets score 75 to 100 on the Ripehouse Street Score, led by Waaia-Bearii Road (100/100, 79% owner-occupied), Centre Road (100/100, 79% owner-occupied), North Street (100/100, 79% owner-occupied). Meanwhile, 0 streets score below 50 due to lower owner-occupation or public housing concentration above 5%.
How much deposit and weekly cashflow is needed to buy a median house in Waaia?
At Waaia’s median house price of $385,000, an 80% LVR purchase ($308,000 loan) requires approximately $95,480 in cash or usable home equity ($77,000 deposit plus around $18,480 for stamp duty and acquisition costs). At $375/wk rent and a 6.25% interest-only benchmark, estimated pre-tax cashflow is -$77/wk before tax deductions.
What is the housing supply pipeline and economic profile of Moira Council?
Waaia is located in the Moira (VIC) Local Government Area (population around 30,866, +1.3% 3yr growth). Annual building approvals sit at 2.9% of existing dwelling stock. Top employment sectors are Agriculture, Forestry and Fishing (19%), Manufacturing (14%), Health Care and Social Assistance (11%).
General information only. It does not take your objectives, financial situation or needs into account, and nothing here is legal, financial, taxation or investment advice specific to your circumstances.