Old-world charm meets inner-city lifestyle
Reservoir is appearing frequently on the lists of top suburbs in Melbourne’s north, and it’s no accident. This established suburb melds old-world charm with cosmopolitan lifestyle, all in commuting distance to the city.
Add in the convenience of transport, schools, shopping and recreation, it’s easy to see why so many people are calling Reservoir home.
Still not sure if Reservoir is right for you? We’ve done the research and crunched the numbers to help you find the right suburb for your next home.
Reservoir by the numbers
Median house price: $754,000, Average rent: $393p/w
Median unit price: $550,000, Average rent: $360p/w
Reservoir property growth: 8.3%
Population: 50,474 (2016)
Source: RealEstate.com.au (April 2019); ABS.gov.au (2016)
A booming suburb 12km from the city
Situated to the north of Preston, Reservoir is Melbourne’s largest suburb by area. It was first surveyed in 1837, and in 1863 three reservoirs were built to supply fresh water to Melbourne’s inner north. A post office was opened in 1921 and named after those water sources.
Due to its size, Reservoir could be considered two suburbs in one. Bordered by the Darebin and Merri creeks with a train line dividing east and west, each side has its own charm and benefits.
As an established suburb, you’ll find plenty of families. But there are also young, independent people and older singles who enjoy the easy going lifestyle that Reservoir offers.
Discover an easygoing lifestyle
Reservoir is a great option for those looking for the convenience offered by the inner northern suburbs. Just 12km from the city, it’s an easy commute by train, tram or bus. And the metropolitan ring road runs along the north boundary, offering easy access to the city as well as a quick exit for weekend getaways.
In the suburb itself, you’ll find an inner-city feel, but without all the cars parked in the street. Allotments are large and most houses have garages and driveways, which gives the area a feeling of spaciousness that’s disappearing in neighbouring suburbs. And with plenty of waterways and green space, you won’t feel like you’re living in a concrete jungle.
For those with kids, there are numerous primary and secondary schools to choose from, including public and private schools. And with Latrobe University and RMIT nearby, it’s a great area for families of all stages.
When it comes to the weekend, there’s plenty to do. The nearby Preston Market offers a plethora of fresh food and gourmet grocers, while Northlands Shopping Centre has major brands along with a cinema for when you need to relax.
Modern cafes are popping up along with a few bars. These sit beside old school bakeries, speciality food stores and restaurants to give the area a vibrant, cosmopolitan vibe.
And if your weekends are more sedate, enjoy a wander along Darebin or Merri creek, or take the bike trails to explore further afield.
Opportunities for home buyers and investors
Despite its proximity to the city, Reservoir is still considered one of the more affordable suburbs in Melbourne’s north. There are plenty of opportunities for first home buyers and astute investors to reap the rewards the suburb has to offer.
Our latest development, OneFive, is located at 15 Steane Street, Reservoir, close to Northland Shopping Centre and Darebin Creek.
This exclusive development is limited to just three architecturally-designed homes. Choose from two double-storey, three-bedroom townhouse and a single-storey, two-bedroom townhouse. Each has two bathrooms, secure garage, 6 star energy rating and NBN readiness.