Watsonia is a mid-sized suburb in Victoria within the Banyule local government area (postcode 3087). With a population of 5,352, the suburb has an established demographic with a median age of 38. Households earn a median income of $98K per year, with an average household size of 2.5 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, clerical & administrative, technicians & trades. Employment in the area leans toward healthcare and education. The top ancestries reported are Australian, English, Irish.
Watsonia has a median house price of $1.0 million, which has jumped by 14.3% year-on-year. Units have a median price of $758,000 (+0.4% YoY). The current median weekly rent is $560. This gives a gross rental yield of approximately 2.9%. The median monthly mortgage repayment is $2,019.
Watsonia is served by 2 schools, including 1 primary, 1 secondary. The average ICSEA score is 1041, which is around the national average of 1,000. Public transport access includes 5 rail stations, 25 bus stops. The crime rate in the Banyule LGA is higher than average at 8,647 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 2.9% (low yield). Property prices are near the state median ($1.0M/$875K). The price-to-income ratio of 10.2x is considered stretched. House prices have moved +14.3% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.