Property Market Update: Melbourne, December 2021
Melbourne capped off a bumpy 2021 with double-digit annual growth, triumphing over gloomy start-of-the-year forecasts. H...
Property investors have seen a 8.19% gain in WATSON based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on WATSON, 2602 can rest assured about this ACT suburb's performance. The suburb saw median home prices rise by 25.12%.
Based on its average 5-year and quarterly capital gains WATSON, 2602 saw average growth in the long term.
The ACT suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $925,000
Profits averaged 7.24% per annum over a 3-year period, due to an upward trend in home prices in WATSON, 2602.
This means, real estate investors could earn a rental income of $620 based on current median home prices for the suburb.
The gross rental yield in WATSON, 2602 is 3.49%.
An average of 7.08 real estate transactions take place per month in WATSON which translates to 85 per annum.
Watson is a suburb in Canberra, ACT, named in honour of the third prime minister of Australia, John Christian Watson. It lies on the east of the Mount Majura Nature Reserve. Watson is accessible through major motorways and roads such as the Federal Highway, Phillip Avenue and Antill Street, which separates it from the neighbouring suburb of Hackett.
Despite its subdued, provincial ambiance, Watson features ample amenities, including several retail shops, food haunts serving both international and ethnic fare, schools, and hospitals. As a rising commercial hub, Watson is home to the Canberra Technology Park, which serves as the headquarters of local and multinational companies hailing from the information technology, entertainment, digital media, and service sectors.
Accommodations and dwelling spaces
Watson has a number of hotels and motels for tourists and business travellers to choose from. Residential caravan parks are also a popular form of accommodation in Watson and Canberra, and are often located at the foothills of reserves and bushlands.
Majority of the housing stock in Watson’s property market are apartment units, houses for resale, and off-the-plan housing and land packages. Watson is a renters’ market, as most of the properties present in the suburb are for rent.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||25.12%||25.34%|
|Median 3 years||21.71%||-2.24%|
|Median 5 years||36.53%||-10.29%|
|10 years average annual||5.45%||4.52%|
|Weekly media advert. rent||$620||$470|
|Time on Market||47.2 days||61.3 days|
|Gross Rental Yield Percent||3.49%||5.34%|