VIC has seen average median house prices change by 14.59% which means that Reservoir, 3073 has done well for property investors by showing a capital gain of 8.88% over the last year
A 38.25% growth in median value for property investors in Reservoir,3073 puts this suburb at number 297th in terms of best performing suburbs in VIC
Property investors looking for a bargain in Reservoir should be aiming for at least -6.53% off the asking price, which is the average vendor discount being achieved at the moment.
Reservoir, 3073’s gross rental yield is 2.39%
At number 764th in the list of Australian suburbs ordered by increase in median house value over the last year, Reservoir, 3073 is in the top half with a property value increase of 7.53% recorded in median house prices.
Over the longer term, Reservoir has seen property prices show investors a 15.83% return over the last 3 years. This is worse than over the last 12 months
Property buyers and investors in Reservoir 3073 should be seeing an average reduction in asking price of around -4.12% . This means that Reservoir is holding prices well when compared to other suburbs in VIC.
The VIC suburb of Reservoir, 3073 is in the Darebin (C) local government area.
Information supplied by:
Love Real Estate
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.
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
Leisure centre, Edwardes Park Lake
Local industry and business:
Manufacturing and small business
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
Zone 1 train, tram along Gilbert Road and Plenty Road as well as good service by bus
M80 Western Ring Road, High Street, Albert Street, St. Georges Road