VIC Watsonia the place to be

Holy Moly!

Am I reading this correct or is that a typo? $7mil???

 

Nah, this is cheap in today's market. No. 6 sold for mid 600s I recall approx 1 yr ago. Proximity to shops and tram is what's driving this pocket of Bundoora. I was expecting 750k.
One on Milton Pde sold for 933k Cnr site.
BTW - a full development of B Square has been proposed. Apartments etc on top of shops.

 

I told you Watsonia was hot!!!

 

Hi guys, What are your thoughts on Watsonia as an investment option in 2019 and beyond (This is an old thread!)

Thanks

 

It's a nice enough residential suburb therefore there's not much in the suburb itself. However it's got Greensborough plaza north east, some parks nearby, very close to the M80, about 15 mins drive to Austin Hospital, and Northland S/C and Latrobe a short drive to the West. I think it will be a good buy and hold, don't think it has development/subdivision potential at the moment. I did look into it previously but it was too expensive for me

 

Just be careful with NE link route.

 

Definitely something to be aware of - Victoria have been announcing their intention to compulsorily acquire houses along Greensborough Bypass and south towards Lower Plenty Road. High level map here: North East Link Interactive Map | Virtual tour generated by Panotour but the route is still in flux. I'd be really hesitant to buy too close to the corridor.

 

Yep, some people in Preston have learned the hard way recently.

 

Oh wow, thanks for that! Will the NE itself make the suburb more desirable once built?

 

Quite possibly since one result will be to remove most of the heavy vehicles from the surface roads and to make the commute to Box Hill/EastLink faster. That said, the next few years are likely to involve some significant disruptions to travel along and across the route.

 

Yep, will be very significant for the suburbs around there in a positive way,u U live very close to the link

 

Thanks @Triton and @hdb for your input. It will be a long disruption though looking at how the link will only open in 2027.
I'm from Sydney so it's good to hear from people living in Melbourne directly.