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Reservoir

Discussion in 'Where to Buy' started by ATANG, 1st Dec, 2015.

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  1. ATANG

    ATANG Well-Known Member

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    5th Jul, 2015
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    Location:
    SA
    Can anyone comment on the suburb?

    - Safety
    - Vacancy rate
    - Growth record
    - Schools
     
  2. Pins

    Pins Well-Known Member

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    19th Jun, 2015
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    Location:
    Melbourne
    If you do a search on Somersoft there are a number of threads on the north which reference reservoir

    Also check out the suburb on the investment tab on REA
     
  3. SerenityNow

    SerenityNow Well-Known Member

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    Location:
    Victora
    Most of these statistics you will find easily in rp data or similar; buy an Australian Property Investor magazine and use their online database of statistics, it's sortable. For schools in a suburb, use the better education site to see school rankings. You will get much more accurate data by going to source.

    If you want free statistics, use google "Suburb name" profile. (But the paid statistics are more up-to-date)
     
  4. keroppi

    keroppi New Member

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    8th Nov, 2015
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    Location:
    Melbourne
    It's one of those suburbs on the rise given it's proximity to the CBD. It's also a big suburb so there can be some discrepancy depending on where you purchase. Safety and facilities are not great, but it is gentrifying. I have a few investments there.
     
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  5. Jake Milne

    Jake Milne #1 Buyers Agent, Vic. Business Member

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    Location:
    Melbourne
    - Safety :
    North West Metro area is much worse for homicide (about double), rape (30% or so more), robbery (much more) than in the Southern or Eastern areas of Melbourne. Police statistics

    - Vacancy rate:
    Currently 1.8% Source

    - Growth record:

    Houses:
    • Quarterly change 5.4% Source
    • 3 yr average 8.3%
    • 10 yr average 7%
    • 5 yr forecast 1%
    • 8 yr forecast 3%
    - Stat Source: Residex Suburb Report

    Units:
    • Quarterly change -1.9% Source
    • 3 yr average 3.3%
    • 10 yr average 5.5%
    • 5 yr forecast 1%
    • 8 yr forecast 2%
    - Stat Source: Residex Suburb Report

    - Schools (Ratings):
    Great suburb to invest in if your plan is to cut up a block and build a few villas/ townhouses.
    Not so good if you're looking to buy and hold.
     
    Last edited: 7th Dec, 2015
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  6. OC1

    OC1 Well-Known Member

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    Location:
    Melbourne
    You could really divide the suburb into many mini-suburbs. Best to stick to the areas that are walking distance to Regent or Reservoir stations. Oakhill estate would be the exception.
     
  7. JK200SX

    JK200SX Well-Known Member

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    Location:
    Melbourne
    I grew up in the area.
    -Oakhill estate would be the premium area (bordered by tyler, plenty, bolderwood, broadway and high st.
    - 2nd would be West of train line/high st. (bordered by High, Spring Henty Gilbert, The lake, and broadhurst ave.
    - Third; High St/train line, Hickford, vertical (somewhat zig zagged) line up from New st to Hickford and Broadway.
    - Probably 5 more sub areas of Reservoir:
    - Keon Park - North of Hickford
    - The area around Darebin Bvld and East near Ayr St
    - Kingsbury
    - Area East of Plenty Rd (upto Albert St)
    - Summerhill Estate (east of Albert St)- used to be the cheapest/least desirable area with fibro/asbestos/concrete commission houses. As prices where typically the lowest in this area, they have shown the highest percentage increase. In one part, near the creek end of Tyler St, it looks like there is a very large area that will probably become a large apartment complex.

    Just about any old house that is purchased in the area is subsequently demolished and turned into townhouses. As a result of the increased housing density, I've seen big issues with parking, in particular on Rathcown Rd, between New and Black sts there is barely 1 free parking spot on the st.

    In terms of schools, a few have been left out:
    - St Stephens on Black St
    - Holy Name Primary School

    There's a Hospital and 4 train stations.

    I don't live in the area any more, but do go through the suburb quite frequently (parents still live there), and if anyone has any groundwork/assistance I'd be happy to help out.
     
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  8. Eleven

    Eleven Active Member

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    27th Feb, 2016
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    Location:
    Melbourne
    Re Oakhill pocket (1). an opportunity at the moment to buy a parcel of land in the rear with planning permit for 1x 4 bed townhouse. 2/13 Acheron Ave. estimate price is 300k. Agent says he could achieve 550k plus once complete. Im interested to buy but will not chase record prices as it is risky. What do you think it's worth?
     
  9. au contraire

    au contraire Member

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    30th Dec, 2015
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    Location:
    Melbourne
    I can only offer an opinion as someone who lives nearby.

    Lots of young families, largely folks from the inner east/north settling down. Prices have moved a lot in the last year or so. Lots of townhouse developments going up.

    JK200SX's hierarchy is spot on. However I personally would avoid the areas near Edwardes Park Lake with the power lines moreso than the Summerhill Estate which is on the improve in the area close to Plenty Road.
     
  10. melbournian

    melbournian Well-Known Member

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    Location:
    melbourne
    With Stamps legals interest, selling agent fees etc added to the that 300K plus the builds assuming it is 170-200K (since you're a builder) would that leave much room for profit?
     
  11. Eleven

    Eleven Active Member

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    Location:
    Melbourne
    Yep. My concern is realisation value. Is it worth 600k?
     
  12. melbournian

    melbournian Well-Known Member

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    Location:
    melbourne
    i think if it is 600K - they better off go to preston as some of the places townhouses there are like 400-600K but yes smaller. And if they had 600K they might as well buy a house with land which would be cheaper.
     
  13. MTR

    MTR Well-Known Member Premium Member

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    Location:
    Perth, Melbourne, USA
    Developers have jumped into Reservoir and land has continued to soar. I tried to buy a development block about 18 months ago and the competition was fierce.
    The attraction is proximity to city and zone 1 rail.

    Prices of townhouses have also soared, if the demand from investors and FHB continues prices will continue to rise, its been going hard for some time now. If I was buying today/now I would be buying in the best location and close proximity to the rail.

    MTR:)
     
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