Suburb Profile Report for Reservoir VIC (3073)

Reservoir House: Median price $818,750, Annual capital growth 5.37%, Number of sales 320, Weekly median advertised rent $400

Reservoir Unit: Median price $565,000, Annual capital growth 4.77%, Number of sales 261, Weekly median advertised rent $370

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

Source: Monthly data update for Apr 2021 as supplied by CoreLogic. Data is reported to the period ending Jan 2021. Please note that property sales data is routinely updated, so may change retrospectively.

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Reservoir, 3073 ranked 374th 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

When looking at the potential capital gains offered to property investors over the last 3 years, Reservoir comes in at number 567th in VIC.

State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.44% offered to property buyers. Sellers in Reservoir itself are offering an average vendor discount of -6.42% to real estate investors.

On average over the past year, suburb has had 26.67 sales per month, which equates to 320 per year.

Using the current median advertised rental of $400 and the average annual increase in value of a median property of 5.37%, investors should hope to achieve an overall return of 2.54%

Over the last year, property investments in Reservoir, 3073 have given investors a capital gain of 6.10%. This compares averagely with the 6.25% for VIC as a whole.

While Reservoir,3073 ranked number 169th in VIC for increase in median house value (annualised) increase, it is ranked 71th over the last 5 years.

Property buyers and investors in Reservoir 3073 should be seeing an average reduction in asking price of around -3.83% . This means that Reservoir is holding prices well when compared to other suburbs in VIC.

Often selling an investment property can take time, and in Reservoir the average time real estate has been on the market is 60.6299 days.

Reservoir is 240th on a list of best yielding suburbs for rents in VIC with a 3.41% return

Michael Love Information supplied by:

Michael Love
Love Real Estate

M 94606511
O 0400106577

W http://loverealestate.com.au/
E [email protected]

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
$818,750 $565,000
2.99% 1.25%
8.01% 6.10%
5.37% 4.77%
$400 $370
320 261
2.54% 3.41%
74.2012195121951 60.6298701298701

Source: Monthly data update for Apr 2021 as supplied by CoreLogic. Data is reported to the period ending Jan 2021. 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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