Reservoir is in the bottom 20% in VIC when comparing median price capital growth over the last year. Reservoir gave property investors a dismal capital gain figure when compared to the rest of the state, with -12.20%.
When looking at the potential capital gains offered to property investors over the last 3 years, Reservoir comes in at number 455th in VIC.
Our latest figures would indicate that property sellers in Reservoir are currently offering property investors an average price cut of -6.51% below the asking price at the moment.
Situated 12.07km from the CBD, Reservoir is one of Darebin (C) localities in the postcode 3073.
VIC has seen average median house prices change by 0.74% which means that Reservoir, 3073 has done well for property investors by showing a capital gain of -4.77% over the last year
Reservoir,3073 has offered an average of -4.77% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Reservoir should be aiming for at least -6.85% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 15.42 sales per month, which equates to 185 per year.
Property investors should expect to get $370 weekly from the median priced house in this suburb.
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