Why Watson
Stable but fully pricedpopulation +9.1% (5y), incomes +18.0% (5y).
Drivers
- Population growth+9.1% (5y)
- Income growth+18.0% (5y)
- Capital growth7.0%/yr
- Supply tightening-4.0% YoY
Risks
- At top of budget (91% of cap)
- Thin gross yield (2.1%)