The current slump in the housing market across Australia has had unexpected consequences for residents living right here in Watsonia. As first reported by The Watsonia Bugle, the sale of a house near Watsonia Primary School for seven figures back in October 2017 emboldened locals in that specific area to dub their section of our suburb the “Paris End” of Watsonia.
However, as the nation enters an uncertain time punctuated by lower property values, questions are now being asked about the Paris End’s status as the so-called elite region of Watsonia. One passionate Paris End sceptic contacted The Bugle earlier this week to say, “I reckon they’re done mate. To be honest, all they were hanging their hats on was the sale price of one house. Now that values are down across the board, it has significantly levelled the playing field.”
When we contacted a local real estate analyst, they said, “It’s very interesting isn’t it. The market hasn’t been truly tested just yet, and it’s too small a sample size to draw any concrete conclusions at this stage. But the Paris End could be on shaky ground. The big question is: which Watsonia region will step up to challenge the mantle?”