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Reservoir, VIC 3073

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If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Reservoir, VIC 3073 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

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Rent 

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Yield 

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Buy 

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Rent 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Reservoir, VIC 3073”

  1. The total adult population (15 years or older) of Reservoir 3073 VIC is 43,146, with a median age of 38. Of those, 40.16% are married, 10.90% are divorced or separated, 42.40% are single and 6.53% are widowed.

    The average household size is 2.4 people per dwelling, and the median household monthly income is estimated to be $7,932. The median monthly mortgage repayment for households in this suburb is $1,986 which is 25.04% of their earnings.

    Source: ABS Census Data (2021)

  2. Nestled in the state of Victoria, the suburb of Reservoir, postcode 3073, is estimated to consist of some 25,728 households. As we move into the third quarter of 2023, the property scene for houses in Reservoir 3073 presents some noteworthy figures for potential investors and buyers alike.

    The typical price tag for houses in this suburb rests at a considerable $857,216. Coupled with a median weekly rent of $449, this accounts for an indicative yield of approximately 2.72%. Whilst falling slightly short of the ideal 3% yield that cashflow-oriented property investors look for, it’s still evident that some decent return on investment can be netted here.

    The socio-economic infrastructure of the suburb holds up fairly well, resonating with an IRSAD score of 988 out of a potential 1217. This score suggests a relatively stable socio-economic environment with reasonable access to resources.

    In terms of property ownership status, the renter to owner ratio stands at 36%. Although this value sits somewhat higher than the coveted 30% or below, it is still far from tipping over the less desirable 45% threshold that may raise concerns for investors due to the high proportion of renters—an aspect that may subtly impact the neighbourhood appeal.

    Examining the unit to houses ratio, we see a figure of 32% in Reservoir – a decidedly favourable statistic indicating a lower proportion of units, and potentially less competition amongst landlords for tenants. This dynamic can help uphold higher rental yields while attracting more families eyeing longer tenancy periods.

    From an affordability standpoint, the estimated time to fully own a property in Reservoir is calculated at 42 years. Whilst this index exceeds the standard 30-year mortgage and therefore can be seen as less affordable, this metric alone shouldn’t deter potential property investors, particularly if majority of other factors show potential.

    Supply metrics yield pleasing figures with a relatively low stock on market Percentage for houses at 0.23% and an inventory level of 0.89 months. This low supply indicates better investment conditions as there’s less competition among sellers.

    Reservoir also seems to be cautious not to oversaturate the market with new dwelling stock with an ultra-low building approvals Ratio of 0.08%. This aspect further strengthens the investment potential by maintaining a stable property supply-demand balance.

    The brisk property movement in Reservoir is made evident by the mere 24 days on market value for houses, well below the high demand benchmark of 35 days. This brisk movement suggests that houses in this area are snapped up relatively quickly, often a positive sign for investors.

    With a vacancy rate (combined houses and units) of just 0.71%, the demand in this suburb seems to be relatively high, as vacancies barely get time to collect dust before they are occupied again – a promising sign for those looking to invest in rental properties.

    Lastly, while Reservoir’s buy search index for houses currently stands at 3 – sitting on the edge of limited demand – it’s vital to keep an eye on this trend to pinpoint times of increased buyer interest.

    Overall, despite a few metrics like affordability index and indicative yield falling into the less favourable ranges, significant majority of other factors make Reservoir a potentially profitable ground for property investment. Consider utilising RCS developed by HtAG Analytics for a thorough, automated research using over 80 metrics to strike when the iron is hot.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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