Welcome to struggle street. According to recent figures released by the Real Estate Institute of Victoria, Watsonia and Watsonia North have lost their hard-earned million-dollar suburb status. While Watsonia hit the lofty figure back in November last year, and Watsonia North in February this year, both members of the treasured 3087 postcode have now slipped out of the exclusive seven-figure club, based on median house prices in the last quarter.
The news comes as a bit of a kick in the shins to Watsonia after multiple years of impressive growth. There was the recent rumour of an impressive new tourist attraction in the area, a bold new logo to promote the suburb, and the ongoing possibility of a wine bar finally opening in Watsonia’s CBD. Not to mention other well-known 3087 advantages such as our boutique water supply, and the fact we’re often labelled the best suburb in all of the world.
However, perhaps recently being crowned the Millennial capital of the Diamond Valley actually wasn’t a strong selling point, or maybe the complicated new bin system has turned away cashed-up potential buyers.
To add insult to injury, nearby suburbs such as Greensborough, Montmorency, Viewbank, Macleod and, ahem, Diamond Creek all maintained median house prices of over one million dollars, but we’ve hidden that fact right down here because we know that nobody reads all the way to the end of our articles anyway.