If you compare the increase in value of investment property in Watson, 2602 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this ACT suburb was 8.27%.
While Watson,2602 ranked number 45th in ACT for increase in median house value (annualised) increase, it is ranked 21th over the last 5 years.
Watson2602 is located in ACT which offers an average discount of -4.16% to property investors. Watson itself is showing figures that indicate -4.42% is the average achievable by property buyers investing in the suburb.
In the last year 67 properties changed hands in Watson, which puts it as the 15th most active market in ACT when comparing the number of sales per suburb.
Using the current median advertised rental of $450 and the average annual increase in value of a median property of 5.21%, investors should hope to achieve an overall return of 3.54%
Giving property investors a a poor capital gain of -10.36% for the last year, Watson, 2602 is the 1575th highest performer in Australia in this respect.
Across a shorter period, Watson, 2602 has seen a median price increase of -7.24% over the last quarter.
At number 2nd of ACT’s most discounted properties, Watson is in the bottom 10% of the state/territory when listing in order of most discounted to least.
In the last year 79 properties changed hands in Watson, which puts it as the 12th most active market in ACT when comparing the number of sales per suburb.
Watson, 2602’s gross rental yield is 5.21%
Watson sits around 10km from the Canberra CBD and houses several schools, a university campus, a shopping centre and a couple of television studios. Access to the city centre is good, with Northbourne Avenue bordering the north of the suburb.Full summary
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Watson sits around 10km from the Canberra CBD and houses several schools, a university campus, a shopping centre and a couple of television studios. Access to the city centre is good, with Northbourne Avenue bordering the north of the suburb.
“Watson’s inner-north, and Canberra people go for that,” explains LJ Hooker Dickson sales agent Peter Stewart. “They love the inner suburbs. It’s close to the city, but it’s still one of the affordable inner-north suburbs.”
He adds that this relative affordability, coupled with the suburbs excellent schools, has been drawing in families in increasing numbers.
“North Watson tends to have quite a few units and townhouses, and there’s a brand new development that they’re constructing at the moment on the far north side of Watson called the Fair. There are around 300 new dwellings going there, and they’re brand new one-, two and three-bedroom properties,” Stewart says.
“That will attract investors, as well as first home buyers, and even some downsizers who are looking to stay in the area.”
He cites the example of the Solstice development, which significantly increased both the number of units in the area and their median price when it came on to the Watson the market several years ago.
Looking ahead, Stewart believes that Watson’s location and relative affordability will provide the area with sustained capital growth, citing his own buying and selling experience as a sign of the area’s strength.
“I bought my first property in Watson – a one-bedroom unit – in 2001. I sold it at the beginning of this year and it had more than doubled in price,” he explains.
“That’s pretty standard across the inner north in general, and I can’t see that really changing. The more they build out in Canberra, the more Watson’s going to become an ‘inner’ area.”