Hi Andrea.
Another piece of the puzzle! Thanks for sending the link. I do vaguely recall the Shave name but don't know anything else. My great grandparents lived at Waupaca for several years according to records, but it's very difficult to find out exactly what sort of place it was. Their home address was "Waupaca", 494 Melbourne Road, Frankston. When they moved there in 1909 it would have been basically rural. Now the site is on the western side of a roundabout and has several small businesses operating there.
Trove also shows the following people living there:
Peter and Mary Dial (my great grandparents)
The Shave family you found.
A young girl named Berlinda Hoskins (Weekly Times Wednesday 23 September 1942).
Mr. and Mrs. P. Mason (Mornington and Dromana Standard Saturday 4 September 1909).
My great-aunt's wedding there (Robertson - Dial, The Australasian Saturday 17 May 1913).
The funeral of my great grandfather (Peter Dial, The Argus Wednesday July 7 1915).
Mrs. Mason advertising for a girl to take children out and assist with housework (Mornington and Dromana Standard Saturday 9 October 1909).
Mrs. P. Dial (see above) advertising her private school (Mornington and Dromana Standard Saturday September 17 1910).
This would seem to suggest that "Waupaca" was a fairly busy place with a number of people residing there, and your suggestion seems logical. I'll keep looking and will post if/when I find the answer.
Many thanks,
Peter