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Reservoir

POSTAL CODE: VIC, 3073
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RESERVOIR ranks 368th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.

The suburb’s capital gain of 4.4% for the past year is higher than average compared to its 17.14% growth within a five-year period.

Also in RESERVOIR, the median home price is sitting at $950,000, and the average rent at $550, this suggests property owners could potentially earn a 3.01% increase in gross rental yield.

Property investors have seen a 2.15% gain in RESERVOIR based on an increase in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 5.04% growth over a ten-year period. It ranks 3131st on our list of suburbs that property investors should look into.

Surburb overview

Reservoir is a suburb of the City of Darebin, Victoria, located approximately 12 kilometres north of Melbourne's Central Business District. As of the 2021 census, it had 51,096 residents.

The suburb is a multicultural community that offers various amenities. The reservoir features several shopping precincts, including the Edwardes Street and Broadway shopping strips, providing residents access to retail stores, cafes, and restaurants.

Public transportation in Reservoir is well-developed, with multiple bus routes, tram lines, and train stations facilitating convenient access to Melbourne's city centre and surrounding suburbs. The suburb has four railway stations on the Mernda line: Reservoir, Regent, Keon Park, and Ruthven. Additionally, two tram routes, the 11 (West Preston to Victoria Harbour Docklands) and the 86 (Bundoora RMIT to Waterfront City Docklands), pass through or terminate in Reservoir.

Numerous parks and green spaces offer abundant recreational opportunities. Edwardes Lake Park, for example, offers a large lake, walking tracks, and picnic areas, providing residents with ample outdoor spaces for leisure and sports activities.

Reservoir offers a range of housing options. The median property price is approximately $896,000, and annual capital growth is 2.40%. Rental yields are around 3.23%, and the median weekly rent is $530.

Reservoir's blend of cultural diversity, accessible amenities, and recreational facilities contributes to its appeal as a residential suburb in Melbourne's northern corridor.

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