VIC has seen average median house prices change by 4.41% which means that Reservoir, 3073 has done well for property investors by showing a capital gain of 5.48% over the last year
A 42.59% growth in median value for property investors in Reservoir,3073 puts this suburb at number 249th in terms of best performing suburbs in VIC
Property investors looking for a bargain in Reservoir should be aiming for at least -7.42% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Reservoir have been waiting around 78.6474 days to sell a property.
Using the current median advertised rental of $410 and the average annual increase in value of a median property of 6.18%, investors should hope to achieve an overall return of 2.77%
Reservoir has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 9.01% to date .
The five-year average increase in median property values for Reservoir,3073 has given property investors a potential capital gain of 43.45% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Reservoir is offering property investors an average of -5.85. This rate of discount on properties puts Suburb at number 164th in terms of most discounted suburbs in VIC
Residents and property investors in Reservoir have been waiting around 71.0599 days to sell a property.
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