It turns out that the current real estate downturn is not all bad news (maybe), as Watsonia has now topped the list for the best Melbourne suburbs that fall within a first-home buyer’s budget. According to a very click-baity article that references statistics from a leading real estate company, a recent drop in property values has made Watsonia the best Melbourne suburb for first-home buyers – i.e. people with up to $750,000 to spend.
However, with a median house price of $739,000, technically the figures don’t really make Watsonia the best value for money when buying your first home, instead just telling you which suburb will cost you the closest to the $750k limit. Kind of like that game you play every time you go to the bottle shop and attempt to calculate the best kind of beer you can afford without totally breaking your self-imposed budget.
Does this news make Watsonia a good place, or does it not? In some ways it’s a slap in the face but, in other ways, it’s kind of cool. Like we’re the big tough Grade 6 kid that thinks he’s super cool until he starts in Year 7 and realises his true place in the pecking order of life. Where that leaves Watsonia North, which came fifth on the list, remains unclear – with some industry insiders claiming its poor walkability and lack of train station may have cost it the top spot.