reservoir

3073, Victoria

Real Estate & Property Information

Median
Price Rank
260

reservoir Suburb Profile & Review

Reservoir is a popular area for recreation and sports. The suburb also benefits from retail hotspots and trendy cafes in neighbouring Preston and Coburg, such as Northland Shopping Centre and the Preston Market.

Well serviced by a total of four railway stations; Reservoir, Regent, Keon Park, and Ruthven, and various tram and bus routes, Reservoir is a family orientated and ethnically diverse suburb located a short twenty-five minutes from the inner city. It is ideal for commuters and first home buyers looking to settle in a well-established but affordable area. The Northern Ring Road, Hume Freeway, Tullamarine Freeway, Calder Freeway and Eastern Freeway are all within a short driving distance.

Large open areas such as Edwardes Lake Park provide space for community gatherings, walking tracks, athletic clubs and playgrounds. The Reservoir Leisure Centre is a premier sporting facility servicing Reservoir and the northern suburbs at large. Convenient shopping is available on the Edwardes Road and Broadway shopping strips, and the La Trobe University Bundoora campus is a stone's throw away.

reservoir Demographic Data

$ 491,000 Median House Price

26 Minutes Average Commute

38 Median Age

47,637 Population

50.94 % Female

49.06 % Male

12462 NO OF FAMILIES

1.7 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in reservoir, Victoria.

Learn more about data
X

reservoir Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

reservoir Median House Prices

  • 2008 $ 360,000
  • 2009 $ 390,000
  • 2010 $ 425,000
  • 2011 $ 510,000
  • 2012 $ 491,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

Learn more about data
X

reservoir 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in reservoir have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term reservoir property price predictions.

reservoir Market Property Types

  • 72 % Seperate House
  • 13 % Semi Detached
  • 15 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

Learn more about data
X

reservoir Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

reservoir Income & Mortgage Stats

  • $ 972 Median Weekly Household Income
  • $ 1,733 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in reservoir

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

Learn more about data
X

reservoir Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

reservoir Sold Property Prices

reservoir Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

reservoir Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

reservoir Restaurants

  • Unique Pizza716 Plenty Road reservoir VIC 307303 9077 3244
  • The Claypit Indian Cuisine Restaurant254 Broadwayreservoir VIC 307303 9462 5002
  • Sun & Moon Macedonian Traditional Restaurant911 High St reservoir VIC 307303 9077 7216

reservoir Cafes

  • Cafe Qtee287 Broadway reservoir VIC 307303 9462 5440
  • Gioco Gelato Caffe Cakes26 Gertz Ave reservoir VIC 307303 9469 5509
  • Monte Coffee25 Kurnai Avenuereservoir VIC 30731300 766 683

reservoir Schools

  • Holy Name Primary School12 Robb Streetreservoir VIC 3073(03) 9471 0883Catholic Primary School
  • St. Stephens Primary School71 Whitelaw Streetreservoir VIC 3073(03) 9460 3566Catholic Primary School
  • St. Joseph The Worker Primary School70 Wilson Boulevardreservoir VIC 3073(03) 9469 7800Catholic Primary School

reservoir Childcare

  • ABC Learning Centre20-22 Gertz Avenuereservoir VIC 3073
  • Dewdrops ELC89 Delaware Streetreservoir VIC 3073
  • Merrilands Childrens Ctr23-25 Ryan Streetreservoir VIC 3073

reservoir Kindergarten and Preschools

  • Blake Street Kindergarten109 Blake Streetreservoir VIC 3073
  • Dole Avenue Kindergarten2 Dole Avenuereservoir VIC 3073
  • Edwardes Street Kindergarten41 Edwardes Streetreservoir VIC 3073

reservoir Sporting Centres and Clubs

  • Little Athletics Centres, Preston/Reservoir, Edwardes Park Lreservoir VIC 3073Athletics Club
  • Preston/ReservoirEdwardes Streservoir VIC 3073Athletics Club
  • Preston-Reservoirreservoir VIC 3073Bowling Club

reservoir Retirement Villages

  • Latrobe Villagereservoir VIC 3073
  • RSL Villagereservoir VIC 3073
  • St. Margarets Communityreservoir VIC 3073

Find out How Much your House is Worth in reservoir

Request a free market Basic Report for reservoir to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

Download Free Market Report
Share with friendsX