Reservoir has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 10.49% to date .
If we look at median property appreciation over just the last three months, Reservoir has given property investors a paper return of 2.60%. This puts Suburb as 198 on a list of fastest fasting appreciating suburbs in VIC
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.41% offered to property buyers. Sellers in Reservoir itself are offering an average vendor discount of -4.05% to real estate investors.
Investment property in Reservoir has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 11.80%
Over the longer term, Reservoir has seen property prices show investors a 24.22% return over the last 3 years. This is worse than over the last 12 months
Reservoir, 3073 is offering VIC ‘s 66th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.
At number 625 in a list of fastest selling suburbs, Reservoir is just in the top half of suburbs in Australia with an average of days on market 73.4082 for properties listed there.
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