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
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