At number 2492th in the list of Australian suburbs ordered by increase in median house value over the last year, Reservoir, 3073 is in the BOTTOM 40% with a property value increase of -3.90% recorded in median house prices.
Over the longer term, Reservoir has seen property prices show investors a 11.28% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Reservoir is giving property investors an average Vendor Discount of around -8.00%. This puts suburb at number 152th in VIC when ranking the most discounted suburbs.
Using the current median advertised rental of $410 and the average annual increase in value of a median property of 6.44%, investors should hope to achieve an overall return of 2.88%
Reservoir, 3073 ranked 176th in VIC when comparing growth in median property values or capital gain over the last 12 months. Reservoir is one of 2099 in our list for VIC
Over the longer term, Reservoir has seen property prices show investors a 24.94% return over the last 3 years. This is worse than over the last 12 months
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Reservoir, 3073. Typically our figures indicate that -5.74% is being offered, which puts this VIC suburb at 684th most discounted overall in Australia.
With the median price for a house in Reservoir being $521000 and the advertised rent reaching $370 the gross rental yield for property investors calculates out to be 3.69%
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