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Watsonia North, VIC 3087

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If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Watsonia North, VIC 3087 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

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Rent 

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Yield 

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Buy 

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Rent 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Watsonia North, VIC 3087”

  1. The total adult population (15 years or older) of Watsonia North 3087 VIC is 3,112, with a median age of 41. Of those, 54.27% are married, 7.94% are divorced or separated, 32.87% are single and 4.69% are widowed.

    The average household size is 2.7 people per dwelling, and the median household monthly income is estimated to be $9,480. The median monthly mortgage repayment for households in this suburb is $2,050 which is 21.62% of their earnings.

    Source: ABS Census Data (2021)

  2. Houses in the suburban locale of Watsonia North, 3087, situated in the state of Victoria, are pegged at an average price of $928,532. As of Q3 in 2023, the neighbourhood comprises an estimated total of 1,477 households. These dwellings attract a median weekly rent of $448, consequently providing a heady indicative yield of 2.51%.

    The socio-economic standing of the area leaves a favourable impression, with the IRSAD score coming in at 1046 out of 1217. This score suggests that the residents of Watsonia North generally enjoy access to adequate economic resources and respectable income levels, paired with a robust representation in professional capacities.

    Renters comprise a scarce 12% of the neighbourhood, indicating that the market is not saturated with rental properties. This attribute potentially enhances the long-term investment returns for property owners due to less competition, in addition to uniquely shaping the community’s atmosphere and charm.

    The units to houses ratio is noticeably low at 3%, implying that the market does not suffer from an excess of apartments, flats or studios. This landscape can potentially sustain higher rental yields stemming from less competition amongst landlords and a higher allure for families, coupled with longer tenancies.

    The affordability index clocks in at a rather high figure of 38 years, indicating a lower level of affordability in relation to the standard 30-year mortgage assumption. This index reflects the potential time frame for residents to fully own property, given the current interest rates, median family income and typical property prices in the area.

    Watsonia North showcases a very low stock on market Percentage for houses at a mere 0.14%, coupled with a low inventory level of 0.62 months, both of which reiterates a favourable market condition laid by low supply.

    Correspondingly, the building approvals Ratio for houses, a marker of newly approved residential buildings in relation to the total dwellings, stands at 0.36%, underscoring an encouraging low supply.

    The average Days on Market, the run time for ‘for sale’ listings on the internet, is calculated as 24 days only, highlighting tremendous property demand in the region. This point is further cemented by the vacancy rate (calculated collectively for houses and units) at a low 1.09%.

    Lastly, the Buy Search Index, a measure of online property search intensity in relation to the state average, for houses comes in at 3, denoting some level of potential demand, although not exceptionally high.

    It bears noting that these metrics are in the flux of constant change, and as such, keeping a vigilant eye on trends is crucial. With the reality of some of these metrics landing in less desirable ranges, it presents an ever more pressing case for prioritising the majority with favourable ranges. The Relative Composite Score (RCS), formulated by HtAG Analytics, efficiently accomplishes exactly this, taking into account more than 80 metrics.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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