Suburb Profile Report for Reservoir VIC (3073)

Reservoir House: Median price $720,000, Annual capital growth 6.64%, Number of sales 383, Weekly median advertised rent $400

Reservoir Unit: Median price $510,000, Annual capital growth 5.27%, Number of sales 220, Weekly median advertised rent $375

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
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Property value increases in Reservoir have tracked just lower than the VIC average of -1.79% over the last 12 months.

A 34.58% growth in median value for property investors in Reservoir,3073 puts this suburb at number 258th in terms of best performing suburbs in VIC

Sellers are offering property buyers an average discount of -7.75% to buyers in Reservoir at the moment, which is less than average for the rest of VIC.

In the last year 383 properties changed hands in Reservoir, which puts it as the 17th most active market in VIC when comparing the number of sales per suburb.

Using the current median advertised rental of $400 and the average annual increase in value of a median property of 6.64%, investors should hope to achieve an overall return of 2.89%

At number 649th 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 -0.73% recorded in median house prices.

Comparing Reservoir,3073 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Reservoir3073 is located in VIC which offers an average discount of -6.31% to property investors. Reservoir itself is showing figures that indicate -6.45% is the average achievable by property buyers investing in the suburb.

With the median price for a house in Reservoir being $510000 and the advertised rent reaching $375 the gross rental yield for property investors calculates out to be 3.82%

Michael Love 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

Metrics i HOUSE UNIT
$720,000 $510,000
0.00% 2.00%
-9.43% -0.73%
6.64% 5.27%
$400 $375
383 220
2.89% 3.82%
75.6299559471366 65.8992248062016

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Reservoir VIC
Demographics
Total population 47636
Median household income ($/weekly) 972
Median age of persons 38
Median housing loan repayment ($/monthly) 1733
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 4562 9.6
    25-34 years 8260 17.3
    35-44 years 7032 14.8
    45-54 years 5598 11.8
    55-64 years 4568 9.6
    Others 17617 37.0
    Age Group
    Census Count Percent(%)
    Not Married 17565 47.8
    Registered Married 16769 45.7
    Defacto Relationship 2394 6.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 26620 59.7
    Croatia 1533 3.4
    Indonesia 2083 4.7
    Japan 3908 8.8
    Other 2721 6.1
    Others 7700 17.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 1610 3.7
    Christianity 28962 66.6
    Hinduism 1284 3.0
    Islam 3035 7.0
    No Religion 7536 17.3
    Others 1040 2.4
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 1569 9.7
    $400-$599 2101 12.9
    $600-$799 1695 10.4
    $1,000-$1,249 1657 10.2
    $1,500-$1,999 1864 11.5
    Others 7355 45.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 16074 43.1
    Employed, worked full-time 12431 33.3
    Employed, worked part-time 6008 16.1
    Unemployed, looking for work 1483 4.0
    Employed, away from work 1294 3.5
    Person Characteristics
  • Census Count Percent(%)
    Professionals 3633 18.4
    Technicians & trades workers 2998 15.2
    Clerical & administrative workers 3191 16.2
    Sales 1974 10.0
    Labourers 2243 11.4
    Others 5697 28.9
    Occupation
    Census Count Percent(%)
    Pre-school 644 6.7
    Infants/Primary 2746 28.5
    Secondary 2209 22.9
    Technical or Further Educational Institution 1140 11.8
    University or other Tertiary Institutions 2301 23.8
    Others 612 6.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 34415 77.1
    Flat, unit or apartment 5246 11.8
    Semi-detached, row or terrace house, townhouse 4841 10.8
    House or flat attached to a shop, office 119 0.3
    Caravan, cabin, houseboat 7 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 6879 39.6
    Rented 5888 33.9
    Being purchased 4468 25.7
    Other tenure type 139 0.8
    Tenure Type
Census 2011, ABS
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