Property investors who have had real estate in Reservoir, 3073 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -0.67%
Taking the average capital gain, or increase in median house value, Reservoir,3073 has racked up an average of -0.67% over the period. This ranks it number 1911th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Reservoir is giving property investors an average Vendor Discount of around -8.39%. This puts suburb at number 103th in VIC when ranking the most discounted suburbs.
In the last year 390 properties changed hands in Reservoir, which puts it as the 17th most active market in VIC when comparing the number of sales per suburb.
Advertised rents are around the $410 mark per week – giving a return of 2.86% based on the median price in Suburb
Giving property investors a a stable capital gain of 6.52% for the last year, Reservoir, 3073 is the 329th highest performer in Australia in this respect.
A 41.84% growth in median value for property investors in Reservoir,3073 puts this suburb at number 77th in terms of best performing suburbs in VIC
The most recent median price for Reservoir is $539000, with sellers offering an average of -5.78% off the asking price.
Reservoir is 273th on a list of best yielding suburbs for rents in VIC with a 3.57% return
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