VIC Watsonia the place to be

Looks like everyone is now finding out about this place and prices have jumped, went to an auction and I was thinking 750k+ and might get low 800s depending on how the market went... Well I was wrong.

Compare
17 Longmuir Road, Watsonia, Vic 3087 - Property Details - 3/1/2 on 601m2 - $785k March 2017 - Best recent comparable I could find.
to
60 Orana Drive, Watsonia, Vic 3087 - Property Details 3/1/4 (although using all 4 spaces is rather difficult - more like 3 if not 2) on 555m2 - $880k May 2017 - This is house I attended the auction on the weekend.

I would argue and say the first one is better location given the distance to the train station and being a flatter walk to it but you could say location is same and should of achieved roughly the same price.

Further there have been numerous million dollar sales but most have been either really large block of land or massive houses. The following house isn't any of those but it is a nice house.

28 Curtis Avenue, Watsonia, Vic 3087 - Property Details - 1.193M May 2017

About 2.5 years ago this is what you could of got in Watsonia...
25 Chappell Drive, Watsonia, Vic 3087 - Property Details - 1.140M Oct 2014

In comparison to the 2.5 year old sale it is worst location to train but far superior house being 5/4/6 on over 2,000m2 compared to 4/2/2 on 514m2.

For those thinking Melbourne was at its peak a couple of weeks ago, there has been significant growth.

 

Forgot to include the map of the first two properties mentioned

 

Same thing is happening in Mill Park. Properties that were worth $500k last year are now selling in the high $600s. This one didn't even make it to auction and sold for $710k. Crazy!

6 Winter Court, Mill Park, Vic 3082 - View Sold History & Research Property Values - realestate.com.au

 

it's ridiculous out there, i went to snap this one up - originally advertised for $730-760... sold for $933

5 Daours Court, Watsonia, Vic 3087 - View Sold History & Research Property Values - realestate.com.au

 

I was about to post the same on the 600k-700k IP in Melbourne thread.

There is absolutely no sign of cool down here in Watsonia, quite the opposite. The house on Curtis avenue defies believe. And what you can't tell from the pictures that it is an irregular shaped block. Granted it's only 5 years old but 1.2 million! There must be some hidden treasure underneath only the buyer is aware of.

 

Mill Park market is hot, 4 one million plus sales this year on the east side of Plenty road( 3 in Blossom Park and one in Rivergum estate) in Blossom Park prices are crazy. that's a nice area and is not similar to the rest of Mill Park but prices are crazy.Look at these two sales, two house away from each other both 3-2-2 in the same pocket of blossom park and in original condition no renovation, same age, one sold on 24 Oct 2016 for $704k and the other sold for $810k on 4 March 2017 in less than five months,
Sold 13 Villosa Court, Mill Park VIC 3082 on 04 Mar 2017 for $810,000
Sold 6 Incana Drive, Mill Park VIC 3082 on 24 Oct 2016 for $704,000

 

Glad I bought in at the right time

 

Prices in Watsonia were stagnant for so long, even in Eltham, Greensbourough which are further out on train line, became more expensive earlier than in Watsy. One of reasons it seems not many ppl are aware about it. We love it here. Though will be moving out eventually due to work, uni. Hope these prices would hold on for at least a year.
I had no idea ppl can get so much. I've attended a few auctions in Watsonia Nth (1 km to station), those were sold at around 700k.

 

Big Will, Did u go to this auction? I was there (standing up against the light pole ), and there was just some crazy bidding.

 

I drove to this auction afterwards, thinking I'd snap up a bargain:
1 Julie Street, Bundoora, Vic 3083 - Property Details
Boy, was I wrong - there would've easily been 50 people at the auction, and I didn't even get 1 bid in....

 

Ah Watsonia.

I looked at an absolute dump in this area about a year ago for a potential ppor about a year ago. Found it: 7 Crellin Crescent, Watsonia, Vic 3087 - Property Details

Pics look ok but holy moly it was bad in real life. Most rooms weren't pictured for a reason. Kids drawings all over the walls, weird structures littered everywhere, exposed wiring, unfixed appliances with kick dents in them, missing panels in the roof and walls and of course utterly filthy.

Heaps of people at the inspection, largely Indian descent and most quizzing agent about price per sq m.

This was our first and last look at the area. Although it kinda has a bit of a countryish community vibe which we did like, the power lines right through the centre of town are a huge turn off. As is the super busy freeway that really detracts from the cosiness of the main strip.

The drive home down plenty road was the final straw. Took us an hour to get less than 15km at 4pm on a Saturday afternoon. Hopefully the link being considered at the moment will improve things.

In summary I don't dig Watsonia. 2/10 stars. Plenty of better places to drop $700k let alone a mil.

But I agree outer suburbs are going bananas at the moment, I think purely because the $750k-$900k range has alot more players in the game.

 

Sorry now I have had my rant I have actually had a good look at the links.

Both near the power lines!

The 8's in the sale price may be a clue but ffs I can't see what anyone would want to drop that much cash in that area. It makes some of the crappy areas of rezza land k like they are good value...

 

I luv Wat Sonia

 

u have to have budget of 900k to get properties in watsonia

 

I saw the advertisement but was disappointed with the result, I would of thought it should of gotten 1M (Gut feel) as this was a 4/2/2 and renovated - Is there really a 250k difference between this and 28 Curtis Avenue, Watsonia, Vic 3087 - Property Details.

 

Nah I didn't, I have a 4/2/1 house so it was of interest for the result but in comparison this house is superior in every facet except land size being I have about 50m2 more. Mine is also renovated but is about 7 years since it was renovated.

I would of loved to be at the auction especially with the result but I was thinking 1M+ will be the price but not 1.2M. In comparison my house should be over 1M but I doubt we would get 1.1M.

 

What a dive, looks like a rental and to get 700k and two years ago would probably get 500k. I don't track the Bundoora market that closely because it doesn't have shopping centre (as in Greensborough type) but more so no train station. Has the tram but that is one hell of a long trip to CBD. It does however have a hospital which is an advantage but I don't plan and probably most people plan on visiting a hospital on a daily basis .

 

If you add in 4 Papua Street, Watsonia, Vic 3087 - Property Details - 3/1/2 on 600m2 (IRRC) - 702k - Sept 2016

Papua is probably one of the best streets on the southern side of the railway station due to the flat walk to the station and not being under power lines or ability to hear the highway. The bathroom in this one was rubbish with carpet in the bathroom (yes carpet).

However if you compare Papua to Orana that is over 25% growth in about 8 months, yup Watsonia is hot.

 

I work with the vendor of this place. Fair to say he was stoked!