Reservoir
Suburb profile, market snapshot and recent listings for Reservoir, VIC 3073.
About Reservoir
Welcome to Reservoir
Reservoir sits around 13 kilometres north of the Melbourne CBD, one of the city's larger and more diverse northern suburbs, spreading between High Street and the Merri Creek parklands. It's a place that has quietly transformed over the past decade, with its solid stock of post-war brick homes now sitting alongside townhouse developments and a growing café culture, while still holding onto the unpretentious, family-first character it's long been known for.
With a population of just over 51,000 and a median age of 38, Reservoir suits a broad mix of residents — young families upgrading from inner-city apartments, tradies and professionals after more land for their money, and long-term locals who've watched the suburb grow up around them. It borders Kingsbury, Rosanna, Macleod, Heidelberg West and Heidelberg Heights, giving it easy reach into Melbourne's leafy north-east while remaining firmly connected to the grittier, more affordable energy of the greater Preston-Reservoir corridor.
Lifestyle & dining
Reservoir's food and coffee scene has grown well beyond its old fish-and-chip-shop reputation. High Street and the Broadway shopping strip carry a good spread of Mediterranean bakeries, Vietnamese and Italian eateries, and a new wave of specialty cafés that have moved in alongside long-standing family businesses. It's the kind of suburb where a Saturday morning might mean a coffee run followed by a browse of the local grocers rather than a curated retail experience — practical, multicultural and low on pretence.
That mix reflects the suburb's population generally: a longstanding migrant community sitting comfortably alongside younger households drawn north by price and space. The result is a lived-in, genuine feel rather than anything manufactured for visitors.
Getting around
Reservoir is well served by the Mernda train line, with Reservoir and Ruthven stations both within the suburb, giving a direct run into the city in well under half an hour. Regular bus routes connect through to neighbouring Heidelberg West, Rosanna and Macleod, linking residents to the Hurstbridge line and Austin Hospital precinct without needing a car.
For drivers, High Street and Plenty Road are the main arterials running north-south, feeding onto the Metropolitan Ring Road for those heading further out or across to the eastern suburbs. It's a suburb where you can genuinely go car-free if you're near the train line, though many households still rely on a car for the wider school and shopping runs.
Schools & families
Families are well catered for, with Reservoir Primary School, Reservoir East Primary School and Reservoir Views Primary School all serving the local area, alongside Holy Name School for Catholic education. The Maharishi School of the Age of Enlightenment offers an alternative, values-based curriculum, while the Northern School For Autism provides specialist support, adding to the suburb's reputation for genuine educational diversity.
With a median age of 38 and a population base of over 51,000, Reservoir has long attracted young families and multigenerational households drawn by larger blocks, established parks and a sense of community that's harder to find closer to the city.
Housing & architecture
The housing stock is a genuine mix. Current listings show roughly half are houses — predominantly the mid-century brick veneers and older weatherboards Reservoir is known for — while townhouses make up 26% and apartments or units another 22%, reflecting the steady infill development of recent years. Corner blocks and larger original allotments have proven popular with developers, which has reshaped some streets while leaving others largely untouched.
Buyers after a renovator's original three-bedroom home will still find them here, though increasingly they sit next to newer double-storey townhouse builds aimed at first-home buyers and downsizers wanting low maintenance without leaving the area.
The property market
Reservoir's median house price currently sits at $870,000, with units and townhouses more accessible at a median of $621,000 — a gap that continues to draw buyers priced out of neighbouring Rosanna and Macleod. House values have grown 3.4% recently, a solid if unspectacular pace that reflects the suburb's status as a steady, in-demand performer rather than a boom market.
Renters can expect to pay a median of $640 a week, competitive for a suburb with train access this direct into the CBD. With such a varied dwelling mix on the market, Reservoir continues to offer entry points for almost every kind of buyer, from first-home hunters chasing a unit near the station to families after a full house block.
Market snapshot
Reservoir property market
Median sale price
$870k
House · 3 bed
Median rent
$640
per week
Gross rental yield
3.8%
annual rent ÷ sale price
Typical price range
Entry
$694k
Median
$870k
Premium
$1.31m
Days on market
45
Auction clearance
71%
Sold this year
457
Median sold price trend · House 3 bed
Compound growth -0.6% / yr over 4 yrs
Median price by bedrooms · House
Property types on market
Share of current listings in Reservoir by dwelling type.
Who lives here
Demographics
ABS Census 2021 figures for Reservoir, VIC 3073.
Population
51,096
residents (2021)
Median age
38
years
Household income
$1,541
median, per week
Median rent
$360
per week
Median mortgage
$1,986
per month
Mortgage / income
30%
comfortable
Source: Australian Bureau of Statistics, Census of Population and Housing 2021. Suburb-level (SAL) aggregates.
Education
Schools in Reservoir
Government school catchment
Independent & Catholic schools
Preston Reservoir Adult Community Education - Prace College campus
Recent results
Recently sold in Reservoir
$555k
2/224 Spring Street
Sold ~July 2026
$970k
7 Alamo Road
Sold ~July 2026
$159k
175/2 Gremel Road
Sold ~July 2026
$500k
75 Elinda Place
Sold ~July 2026
$750k
12 Lindenow Street
Sold ~July 2026
$440k
15/47-49 Rathcown Road
Sold ~July 2026
$900k
19 Rubicon Street
Sold ~July 2026
$895k
2 Leichardt Crescent
Sold ~July 2026
Sold prices as published on the original listing; some may reflect the last advertised price. Dates are approximate.
Explore the area
Properties & amenities in Reservoir
Compare the area
Price map around Reservoir
Every listing for sale near Reservoir, coloured by price — so you can see how it stacks up against the streets and suburbs next door.
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Nearby suburbs
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Common questions
Reservoir suburb FAQ
What is the median property price in Reservoir?
The median house price in Reservoir, VIC is $870k for a 3-bedroom home. Over the past year, median sold prices have risen about 3.4%.
How much is rent in Reservoir?
The median weekly rent in Reservoir is around $640 per week.
Is Reservoir a good place to live?
Reservoir is a suburb in Melbourne, Victoria, Australia, 12 km (7.5 mi) north of Melbourne's Central Business District, located within the City of Darebin local government area. Reservoir is an established residential suburb in VIC, with a population of around 51,096 and 10 schools in the area.
What is the population of Reservoir?
Reservoir has a population of 51,096 (ABS 2021 Census), with a median age of 38.
What schools are in Reservoir?
There are 10 schools in or near Reservoir, including Northern School For Autism, Holy Name School and Maharishi School of the Age of Enlightenment.
How long do homes take to sell in Reservoir?
Properties in Reservoir take around 45 days to sell on average, with an auction clearance rate of about 71%.
How much do you need to buy in Reservoir?
Entry-level properties in Reservoir start around $694k, while premium homes reach $1.31m.
What suburbs are near Reservoir?
Suburbs near Reservoir include Kingsbury, Heidelberg West, Rosanna, Heidelberg Heights and Macleod.
Fresh to market
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