Property value increases in Reservoir have tracked lower than the VIC average of 1.54% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Reservoir has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -6.27% to buyers in Reservoir at the moment, which is less than average for the rest of VIC.
Reservoir is 478th on a list of best yielding suburbs for rents in VIC with a 2.85% return
Property investors who have had real estate in Reservoir, 3073 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -2.15%
Reservoir,3073 was ranked 982 in Australia by increase in median property value over the quarter.
Property buyers and investors in Reservoir 3073 should be seeing an average reduction in asking price of around -6.08% . This means that Reservoir is holding prices well when compared to other suburbs in VIC.
Situated 12.05km from the CBD, Reservoir is one of Darebin (C) localities in the postcode 3073.
Information supplied by:
Michael Love
Love Real Estate
M
94606511
O
0400106577
W
http://loverealestate.com.au/
E
Michael.love@loverealestate.com.au
Reservoir is located just 12 km north of Melbourne's Central Business District. Reservoir's local government area is the City of Darebin. At the 2011 Census, Reservoir had a population of 47,637.
Reservoir is an established suburb with standard brick homes, weatherboard homes, and an increasing number of new developments. The region contains popular recreation areas and facilities, including Edwardes Lake and the Reservoir Leisure Centre, and is home to the Edwardes Street and Broadway shopping strips.
Selling points:
12km from CBD, great access to major freeways, Edwardes Park Lake, great diversity in housing
Most sought after properties:
New construction, units/townhouses, period style homes
Most common properties:
Older homes with good sized back yards
Top Amenities:
Leisure centre, Edwardes Park Lake
Local industry and business:
Manufacturing and small business
Best Streets:
Oakhill Avenue and the Oakhill Estate hold most of Reservoirs prestigious streets although Olive Street, Ashley Street, George Street and Edwardes Street are some very lovely Streets
Public Transport:
Zone 1 train, tram along Gilbert Road and Plenty Road as well as good service by bus
Main Arteries:
M80 Western Ring Road, High Street, Albert Street, St. Georges Road