Get a property report and suburb profile for any property in Reservoir

Reservoir has established, tree-lined streets where interwar and post-war weatherboard cottages sit alongside low-rise units and newer townhouses. Edwardes Lake Park and the Merri Creek reserve give residents walking and cycling trails, playgrounds and sports ovals, while local schools, community clubs and a growing café and dining scene shape everyday life. Public transport is straightforward, with Reservoir station on the Mernda line and bus connections, and shopping is concentrated along local strips with larger retail close by.

About 51,096 people live in Reservoir and the median age is 38. Families make up the bulk of households and around 62.2% of homes are owner-occupied. Recent local work has rebuilt the station with nationally recognised sustainability features, supported community activation and public art, enabled planning controls for government-led public housing and delivered a new family/early-childhood centre beside the primary school; the council is also progressing plans for a leisure and community hub. Whether Reservoir suits you depends on whether its parks, schools and transport match what you’re after.

House prices in Reservoir 3073 sit well above what a typical local household earned at the last Census. At $872,500 the median house is about 10.9 times a typical local annual household income at the last Census, and the median unit at $565,000 is about 7.1 times that income, so buying on these figures is notably higher than local annual incomes recorded at the last Census.

Rents take a sizeable share of weekly local income: $600 a week for houses is about 38.9% of a typical local household's weekly income at the last Census, and $500 a week for units is about 32.4%. If you're renting rather than buying, those rent shares are the most relevant figures; whether that feels expensive depends on your own circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Over the past 12 months Reservoir shows a mixed picture. House values rose 5.3% and house rents rose 5.3%, while unit values increased 2.1% (a modest rise) and unit rents climbed 6.4% (a solid rise).

For someone weighing Reservoir as an investment, the value figures point to stronger capital growth on the house side (5.3% versus 2.1%), while units produced the larger lift in rental income this year (6.4% versus 5.3%). Whether that balance fits your goals and circumstances is for you to decide.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.