watsonia

3087, Victoria

Real Estate & Property Information

Median
Price Rank
247

watsonia Suburb Profile & Review

Watsonia is a scenic north-eastern suburb surrounded by parks and reserves including the Gresswell Forest Wildlife Reserve. Train services depart to the city from historical Watsonia Station on the Hurstbridge line. The Greensborough bypass and the Eastern Freeway offer swift access to the city, and bus services travel frequently to both Greensborough Plaza and Northland Shopping Centre.

Diamond Village Shopping Centre, an eclectic shopping strip, provides residents with an IGA supermarket, chemists, cafes, butchers and bakeries, and as well as specialty stores such as a tobacconist, a wool shop and a clothing boutique. Just a short walk from the shopping village you will find the Elder Street Reserve, a beautiful community park with play equipment, tennis courts and an oval. These facilities are often used for football, cricket, soccer and basketball.

Watsonia is home to some outstanding schools, such as Watsonia Primary School, Greensborough College and Loyola College, an independent Catholic school. It is also only a short distance away from the Bundoora campus of La Trobe University. Its flourishing natural backdrop makes Watsonia a perfect location for growing young families, students and professionals looking for a quiet escape only thirty minutes from the city.

watsonia Demographic Data

$ 500,000 Median House Price

29 Minutes Average Commute

38 Median Age

5,146 Population

52.23 % Female

47.77 % Male

1408 NO OF FAMILIES

1.7 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in watsonia, Victoria.

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watsonia Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

watsonia Median House Prices

  • 2008 $ 346,000
  • 2009 $ 400,000
  • 2010 $ 432,000
  • 2011 $ 505,000
  • 2012 $ 500,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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watsonia 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in watsonia have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term watsonia property price predictions.

watsonia Market Property Types

  • 86 % Seperate House
  • 7 % Semi Detached
  • 7 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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watsonia Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

watsonia Income & Mortgage Stats

  • $ 1,170 Median Weekly Household Income
  • $ 1,733 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in watsonia

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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watsonia Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

watsonia Sold Property Prices

watsonia Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

watsonia Related Local Blog Posts

Melbourne Property Market Update – July 26, 2014

Though the property market has slowed down due to the chilly weather, house prices have jumped in many of the capital cities. In fact national house prices grew 10 per cent over the financial year. In his weekly market commentary, Peter Sarmas considers how the property market performed during the June quarter

Obvious Rental Market Slowdown As Vacancies Continue To Surge

Figures released by SQM Research have revealed that the number of residential vacancies increased during June. A 2.3 per cent vacancy rate was recorded nationally, comprising 69,258 vacancies. This result reflects a genuine upward trend in vacancies around the country, and the highest result since the December 2013 seasonal spike

Melbourne Property Market Update – July 17, 2014

As mining investment diminishes, the only significant industry driving the Australian economy at the moment is the property sector. This is being reflected in the lift in retail sales, real estate transactions and property construction. This week, Peter Sarmas discusses why he doesn’t believe we are entering a housing bubble

Melbourne Property Market Update – July 12, 2014

The RBA’s monthly decision on interest rates is expected to administer a period of increased stability in rates until 2015. Yet the household debt to income ratio is at an all-time high as dwelling prices rise and borrowing increases. Peter Sarmas discusses the RBA’s decision and the impact it might have on the property market

Melbourne Property Market Update – July 5, 2014

Recently, many properties have sold on auction day or within a week after the auction, yet recent figures suggest a downturn in the property market is expected in the near future. This week, Peter Sarmas mentions that rising interest rates and an oversupply of city apartments may hurt the property market

Property Market Myths and Common Facts: Melbourne

Quite often, myths or commonly accepted facts about the property market can turn out to be incorrect when a review of the actual numbers is conducted. For example, It’s often said that most home owners buy and sell every seven years. However, research shows that in Melbourne the average hold period for houses is 11.4 years

watsonia Restaurants

  • Pedro's Pizza Cafe & Bar5 Watsonia Rdwatsonia VIC 308703 9435 3433
  • Lime 'n' ChilliShop 11/78 Nepean Stwatsonia VIC 308703 8407 3236
  • Da Vinci's Pizza Gallery361 Greensborough Roadwatsonia VIC 308703 9434 3637

watsonia Cafes

  • The Purple Cow EateryShop 11/78, Nepean Streetwatsonia VIC 308703 9434 4106
  • Citrus Tart Cafe2d Lambourn Roadwatsonia VIC 308703 9435 1507
  • Pedro's Pizza Cafe & Bar5 Watsonia Roadwatsonia VIC 308703 9435 3433

watsonia Schools

  • Loyola College325 Grimshaw Streetwatsonia VIC 3087(03) 9434 4466Catholic Secondary School
  • Watsonia Primary School240 Nell Streetwatsonia VIC 3087(03) 9435 2917State Primary School
  • Watsonia Heights Primary School61 Henry Streetwatsonia VIC 3087(03) 9435 4617State Primary School

watsonia Childcare

  • Watsonia Childrens Centre21 Knight Streetwatsonia VIC 3087

watsonia Kindergarten and Preschools

  • Delta Road Preschool15 Delta Roadwatsonia VIC 3087
  • Watsonia North Preschool68 Macorna Streetwatsonia VIC 3087
  • Watsonia Preschool19 Crellin Crescentwatsonia VIC 3087

watsonia Sporting Centres and Clubs

  • Greensboroughwatsonia VIC 3087Baseball Club
  • Diamond Valley Cubswatsonia VIC 3087Football Club
  • Elder Street Reservewatsonia VIC 3087Tennis Club & Courts

Find out How Much your House is Worth in watsonia

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