O/k being serious here. A pressure transducer is a good solution, but the cheaper ones will need some sort of amplifier to give a signal of usable amplitude. There may still be problems with long term accuracy and drift, and the results may not come up to expectations.
A very simple, low cost, and accurate depth measurement can be obtained with a float, a drum, and a ten turn potentiometer.
The required travel is 2.5 metres, the circumference of the drum would be 250mm, or around 80mm diameter. Don't laugh this is an entirely practical solution.
The typical linearity of multi turn potentiometers, even the very cheap ones is excellent, and if you wrap several turns around a grooved drum there will be no slippage. The voltage can be scaled to read directly in whatever engineering units are most suitable.
I have had great success with the plastic coated very fine, stranded stainless steel wire sold at fishing supply shops. This is used by fishermen to prevent fish from biting through the last few inches of line. This wire is light, flexible, incredibly strong and absolutely will not stretch.
Find someone that can turn up an suitable drum on a lathe with about a fifteen turn helical groove that will seat the wire. A light counterweight on the free end, and you are in business.