Wavell Heights Rental Property Market Insights 2026
Situated approximately 10 kilometres north of the Brisbane CBD, Wavell Heights covers 4.1 square kilometres and is home to 19 parks across 16.6% of the total area. The population grew from 9,684 in 2016 to 10,336 in 2021, a 6.7% increase, with the 30 to 39 age cohort predominant and households primarily couples with children. At 71.3% owner-occupation, this is one of Brisbane’s most tightly held suburbs, and that scarcity dynamic works in investors’ favour.
House median values rose 19.2% in the 12 months to May 2026, reaching $1,660,266, while units/townhouses delivered an even stronger 30.1% gain to $900,392. Both figures are part of a long-term story: house values have grown from $663,846 in May 2017 and unit/townhouse values from $372,759, both more than doubling over nine years. With 3,733 houses and just 368 units/townhouses across the suburb, supply is inherently constrained.
Wavell Heights Rental Property Market Insights – May 2026*
*Data sourced & prepared 17 June 2026 by Cotality (formerly RP Data). All figures are based on rolling 12-month periods unless otherwise stated. This content is for general informational purposes only and does not constitute financial or investment advice.
The Wavell Heights House Market
The median asking rent for houses in Wavell Heights reached $780 per week in May 2026, up from $725 per week in June 2025, a change of 11.4% over 12 months, nearly double the Brisbane-wide figure of 6.3% over the same period. At $780 per week, that equates to approximately $40,560 in gross annual rental income. Against a median house value of $1,660,266, the value-based rental yield sits at 2.7%, reflecting the sharp capital growth of the past year.
Over the 12 months to March 2026, 209 houses sold in Wavell Heights, with 149 transactions in the $1 million to $2 million range and a further 53 above $2 million. The median sale price of $1,600,000 and upper quartile of $2,000,000 confirm the premium character of this market. With 257 rental rate observations recorded over the same period, landlords have a well-evidenced base for setting and reviewing rents. Average house tenure of 11.9 years reflects long-term owner confidence, and means supply in the rental pool remains genuinely constrained.
If you hold a house in Wavell Heights and want a precise assessment of your rental positioning or current value, the McGrath Aspley team is ready to help.
The Wavell Heights Unit/Townhouse Market
With only 368 unit/townhouse dwellings in the entire suburb, Wavell Heights is one of Brisbane’s most genuinely scarce unit/townhouse markets. Just 18 new listings came to market over the past 12 months, and only 19 properties are currently listed. That structural scarcity underpins both the capital growth story and the rental yield.
Unit/townhouse values rose 30.1% in the 12 months to May 2026, from $691,896 to $900,392, the strongest annual growth figure on record for this suburb. From May 2017, values have grown from $372,759, more than doubling over nine years. The median asking rent is $600 per week as at May 2026, up from $580 per week in June 2025, delivering a value-based rental yield of 4.0% and approximately $31,200 in gross annual income. Of the 19 units/townhouses sold in the 12 months to March 2026, 12 transacted between $600,000 and $800,000 and 5 between $800,000 and $1 million.
Understanding the Wavell Heights Tenant Demographic
Wavell Heights is overwhelmingly owner-occupied, with 71.3% of homes owner-occupied as at the 2021 Census. That leaves approximately 29% of the housing stock available to the rental market, creating consistent demand and limited supply for well-presented properties.
The suburb is dominated by couples with children, who represent 53% of all households, well above Brisbane’s 44.9%. The age profile skews toward family life stages, with the 30 to 39 and 40 to 49 cohorts each above the Brisbane average, and the 0 to 9 and 10 to 19 groups also notably high. The income profile is exceptional: 32.3% of households earn above $182,000 per year, compared with 22.1% across Brisbane, and a further 16.7% earn between $130,000 and $182,000. Nearly half of all Wavell Heights households earn above $130,000. Managers account for 17.6% of the workforce, above Brisbane’s 14%, and professionals 30.7%. Education levels are high, with 37.1% holding a bachelor degree and 11.3% a postgraduate qualification.
For landlords, this translates into a tenant pool that is financially capable, professionally employed, and inclined toward stable, long-term tenancies. The McGrath Aspley team understands this community and uses that knowledge to match the right tenants with the right properties.
