Nestled in the northern suburbs of Melbourne, Reservoir has undergone a remarkable transformation over the past seven years. From 2016 to 2023, this suburb has witnessed significant changes in its urban landscape, infrastructure, and community dynamics.
In 2016, Reservoir was primarily characterized by its residential streets lined with modest single-family homes. While there were a few commercial pockets scattered throughout the suburb, the overall atmosphere was one of a quiet, family-friendly neighborhood. However, by 2023, Reservoir has experienced a surge in development and rejuvenation.
One of the most noticeable changes is the influx of new residential developments. High-rise apartment buildings have emerged along the main roads, adding a modern touch to the suburb's skyline. These developments have attracted a diverse mix of residents, including young professionals, families, and students. The increased density has also contributed to a more vibrant and lively atmosphere, especially in the areas surrounding the train station.
In addition to residential growth, Reservoir has also seen significant improvements in its infrastructure. The most notable change is the addition of the new Reservoir Station, which opened in 2018. This state-of-the-art station has significantly improved public transportation options for residents, providing direct access to the city center and other parts of Melbourne. The station has also acted as a catalyst for further development in the area, with new shops, cafes, and restaurants opening up in the vicinity.
Another significant change in Reservoir is the emergence of new community facilities. In 2016, the suburb was somewhat lacking in terms of public amenities. However, in recent years, several new parks, playgrounds, and sporting facilities have been developed, making Reservoir a more attractive place for families and outdoor enthusiasts. The Edwardes Lake Park, in particular, has undergone a major transformation, with the addition of new walking trails, picnic areas, and a playground.
Furthermore, Reservoir has also seen an peningkatan in its retail and dining options. In 2016, the suburb was primarily served by small, local shops and eateries. However, in recent years, several new shopping centers and restaurants have opened up, offering a wider range of choices for residents. The Broadway Shopping Centre, in particular, has become a popular destination for locals, with its diverse mix of shops, supermarkets, and food outlets.
Highlights:
- Reservoir VIC 3073 is a suburb on the rise, with recent developments and amenities making it an attractive option for buyers, sellers, renters and investors.
- The suburb is located just 12 kilometres from the Melbourne CBD, making it a convenient option for commuters.
- Reservoir is home to a diverse range of shops, restaurants and cafes, as well as a number of parks and reserves.
- The suburb is well-connected by public transport, with train and tram services running through the area.
- Reservoir is a family-friendly suburb, with a number of schools and childcare centres located in the area.
Key Points:
- Reservoir VIC 3073 is a suburb on the rise, with recent developments and amenities making it an attractive option for buyers, sellers, renters and investors.
- The suburb is located just 12 kilometres from the Melbourne CBD, making it a convenient option for commuters.
- Reservoir is home to a diverse range of shops, restaurants and cafes, as well as a number of parks and reserves.
- The suburb is well-connected by public transport, with train and tram services running through the area.
- Reservoir is a family-friendly suburb, with a number of schools and childcare centres located in the area.
- The median house price in Reservoir VIC 3073 is $750,000, with the median unit price being $450,000.
- The suburb has a rental vacancy rate of 1.5%, which is lower than the Melbourne average of 2.5%.
- Reservoir VIC 3073 is a suburb that is in high demand, with a number of buyers, sellers, renters and investors looking to take advantage of the suburb's recent developments and amenities.
Overall, the transformation of Reservoir from 2016 to 2023 has been remarkable. The suburb has experienced significant growth in residential developments, infrastructure, and community facilities. The influx of new residents and businesses has brought a new energy and vibrancy to the area, making it a more attractive and desirable place to live. As Reservoir continues to evolve, it is likely to attract even more attention from buyers, sellers, renters, and investors alike.