Reservoir is in the bottom 10% in VIC when comparing median price capital growth over the last year. Reservoir gave property investors a dismal capital gain figure when compared to the rest of the state, with 0.00%.
Taking the average capital gain, or increase in median house value, Reservoir,3073 has racked up an average of 0.00% over the period. This ranks it number 3962th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Reservoir is offering property investors an average of -1.95. This rate of discount on properties puts Suburb at number 376th in terms of most discounted suburbs in VIC
On average over the past year, suburb has had 45.25 sales per month, which equates to 543 per year.
With the median price for a house in Reservoir being $915000 and the advertised rent reaching $0 the gross rental yield for property investors calculates out to be 0.00%
Property investors who have had real estate in Reservoir, 3073 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 38.08%
While Reservoir,3073 ranked number 241th in VIC for increase in median house value (annualised) increase, it is ranked 210th over the last 5 years.
The most recent median price for Reservoir is $615500, with sellers offering an average of -2.90% off the asking price.
On average over the past year, suburb has had 35.50 sales per month, which equates to 426 per year.
Property investors should expect to get $330 weekly from the median priced house in this suburb.
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