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%
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