Reservoir Property Growth
VIC · 3073 · Northern Melbourne
A middle-ring northern Melbourne suburb offering more affordable established housing, undergoing gradual renewal along the Mernda train line.
Overview
Location: City of Darebin
A middle-ring northern Melbourne suburb offering more affordable established housing, undergoing gradual renewal along the Mernda train line.
Market Snapshot
Median House Price
$870k
Median Unit Price
$621k
Avg Days on Market
45 days
Demographics
Estimated Population
50,465
Owner Occupier Rate
62.0%
Renter Rate
38.0%
Transport & Connectivity
Major Roads
- High Street
- Plenty Road
- Broadway
Train Lines
- Reservoir station, Mernda line — rebuilt as an award-winning elevated station under the Level Crossing Removal Project
Tram Routes
- Services along Plenty Road on the suburb's eastern side
Reservoir is approximately 12km north of the Melbourne CBD, within the City of Darebin, and is one of Melbourne's largest suburbs by population. Verify current timetables and traffic conditions before relying on any commute estimate.
Education
Reservoir is well served by government schooling.
Secondary Schools
- Reservoir High School
- William Ruthven Secondary College
Childcare
A range of long day care, kindergarten and outside school hours care providers operate across Reservoir. Always verify availability and waitlists directly with providers.
Amenities & Lifestyle
The Broadway/High Street precinct is the suburb's established main street, and Edwardes Lake Park — with its lake, playgrounds and trails — is the signature green space, alongside the Reservoir Leisure Centre. The suburb's mid-century housing stock and strong multicultural community have made it one of Melbourne's north's most active gentrification stories.
Employment
Reservoir mixes residential streets with pockets of light industry, plus retail employment along its strips; Preston's Northland and the La Trobe University precinct are minutes away.
Commercial Centres
- Broadway/High Street precinct
- Summerhill Shopping Centre area
Infrastructure
Reservoir has been a focus of the Victorian Government's Suburban Revitalisation program following the level crossing removal and new station. No further projects beyond those noted above are currently confirmed for Reservoir. Check Infrastructure Australia's project pipeline, State Government announcements or City of Darebin's website for the latest updates.
Growth Drivers
- Award-winning elevated station — Reservoir station on the Mernda line was rebuilt as an award-winning elevated station under the Level Crossing Removal Project, improving safety and streetscape.
- Active gentrification story — the suburb's mid-century housing stock, strong multicultural community and proximity to Preston's Northland and La Trobe University have made it one of Melbourne's north's most active gentrification areas.
- Large population base — as one of Melbourne's largest suburbs by population, Reservoir has a mature, well-serviced community with established retail and recreation.
- Suburban Revitalisation program focus — recent government investment has followed the level crossing removal and new station.
Key Risks
- Interest rate and lending sensitivity — like all property markets, local prices and buyer activity can be affected by changes in interest rates and lending conditions.
- Mixed industrial-residential zoning — pockets of light industry alongside residential streets may affect amenity in some areas.
Frequently Asked Questions
Reservoir offers an award-winning elevated station, an active gentrification trend and a large, well-serviced population base, but every investor's circumstances and goals differ. This is general information, not personalised financial advice — consider speaking with a licensed financial adviser before making investment decisions.
Refer to the Market Snapshot section on this page for current median price data sourced from our live database.
Reservoir High School and William Ruthven Secondary College serve the suburb.
Reservoir station is on the Mernda line, rebuilt as an elevated station under the Level Crossing Removal Project. Verify current timetables and travel times before relying on any commute estimate.
The Broadway/High Street precinct is the suburb's established main street, alongside Edwardes Lake Park and the Reservoir Leisure Centre.
Try the Property Growth Calculator
Use your own property price, growth rate and timeframe to estimate future property value, equity growth and total projected growth.
Calculate Future ValueSources
- ABSAustralian Bureau of Statistics — Census QuickStats— https://www.abs.gov.au/census
- Local CouncilCity of Darebin— https://www.darebin.vic.gov.au
- Department of Transport VictoriaDepartment of Transport and Planning Victoria— https://www.transport.vic.gov.au
- Victorian Planning AuthorityVictorian Planning Authority— https://vpa.vic.gov.au/
- Infrastructure AustraliaProject Pipeline— https://www.infrastructureaustralia.gov.au
This content is for informational and educational purposes only. It does not constitute financial advice. Nothing on this page constitutes financial, investment, legal or tax advice. Property markets are volatile and past performance is not indicative of future results. Always seek independent advice from a qualified financial adviser before making any property investment decision.