Property types in Reservoir

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The suburban area of Reservoir is located approximately twelve miles north of the large city of Melbourne. While aboriginal tribes inhabited this region for countless years, it was not until 1921 that the first post office was opened; thus heralding in the beginning of the town. Reservoir currently contains a population of nearly fifty thousand. This has allowed it to be considered one of the most populous suburbs within close proximity to Melbourne. In fact, this population is expected to grow well into the future. This is partially due to its easy access to a number of freeways including the Hume Freeway, Eastern Freeway and Western Ring Road.

As evidence of the continued expansion of Reservoir, there are now numerous retail outlets located in the centre of town and Reservoir is particularly close to the popular Northland Shopping Centre. In addition, this suburban location is served by no less than four different railway stations, thus allowing for easy transit to and from Melbourne. Also, Reservoir contains one of the three remaining drive-in cinemas that exist in all of Melbourne.

From a real estate vantage point, Reservoir represents quite a lucrative market, as many analysts share the view that the population will increase dramatically as families look to relocate outside the busy centre of Melbourne. If we combine this desire with traditional suburban environments, an expanding retail centre and quite a few schools and public facilities, Reservoir is said to be one of the most popular residential neighbourhoods within the Melbourne area. Numerous sports teams such as the Reservoir Football Club and the Australian Rules Football are also located within this region.

These are some of the main amenities of this suburb that prove to be conducive to further development into the near future. Development is especially certain should the influx or retail centres continue as it has in the past.
Average price in Reservoir
Average price per  m2  $4,251
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Average price per  m2  $0.85
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