Reservoir, 3073 ranked 403th in VIC when comparing growth in median property values or capital gain over the last 12 months. Reservoir is one of 2098 in our list for VIC
Over the longer term, Reservoir has seen property prices show investors a 46.91% return over the last 3 years. This is worse than over the last 12 months
Our latest figures would indicate that property sellers in Reservoir are currently offering property investors an average price cut of -6.56% below the asking price at the moment.
On average over the past year, suburb has had 41.08 sales per month, which equates to 493 per year.
Reservoir is 454th on a list of best yielding suburbs for rents in VIC with a 2.48% return
If you compare the increase in value of investment property in Reservoir, 3073 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 19.07%.
Taking the average capital gain, or increase in median house value, Reservoir,3073 has racked up an average of 19.07% over the period. This ranks it number 205th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Reservoir should be aiming for at least -4.14% off the asking price, which is the average vendor discount being achieved at the moment.
Advertised rents are around the $350 mark per week – giving a return of 3.45% based on the median price in Suburb
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.Full summary
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
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