At number 3412th in the list of Australian suburbs ordered by increase in median house value over the last year, Reservoir, 3073 is in the BOTTOM 20% with a property value increase of -10.63% recorded in median house prices.
Across a shorter period, Reservoir, 3073 has seen a median price increase of -1.38% over the last quarter.
At number 204th of VIC’s most discounted properties, Reservoir is in the bottom 40% of the state/territory when listing in order of most discounted to least.
The VIC suburb of Reservoir, 3073 is in the Darebin (C) local government area.
Reservoir is in the bottom 40% in VIC when comparing median price capital growth over the last year. Reservoir gave property investors a disappointing capital gain figure when compared to the rest of the state, with -3.65%.
Reservoir,3073 has offered an average of -3.65% return per annum in house price rises to property investors over the last three years.
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 -6.42% is being offered, which puts this VIC suburb at 528th most discounted overall in Australia.
Using the current median advertised rental of $370 and the average annual increase in value of a median property of 5.41%, investors should hope to achieve an overall return of 3.84%
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