Waverley takes its name from a home built near Old South Head Road in 1827 by Barnett Levey (or Levy) (1798–1837).

The cemetery features the graves of several notable Australians including poet Henry Kendall and aviator Lawrence Hargrave.

[4] Edina, a late Victorian mansion built on a grand scale in Birrell Street by Ebenezer Vickery for himself and his family, was completed around 1884.

[5] Other heritage items in Waverley include the two weatherboard cottages in Judges Lane, off Bronte Road.

[1] Waverley is mostly residential with a scattering of commercial developments, centred on the road junction known as Charing Cross.