Reservoir, VIC 3073

Reservoir lies about 12 km north of Melbourne’s CBD and offers a combination of affordability, diversity and development potential. Median house prices are around $805 k and units about $605 k, with modest growth of 1.2 % for houses and 0.9 % for units. The population of roughly 51 096 residents has a median age of 38. Crime is an issue: 5 856 offences were recorded in 2025, equating to 11 461 offences per 100 000 people, with property and deception offences the most common. Fun fact: the suburb takes its name from the Preston Reservoir, built in the 1860s to regulate water pressure between the Yan Yean Reservoir and Melbourne; the difference in elevation between the two reservoirs is roughly the height of the Eureka Tower, and this pioneering design became the model for 38 service reservoirs across Melbourne. Reservoir’s roots as farmland and its ongoing infrastructure projects make it an authentic, evolving community rather than a polished inner‑city haven.

Life and community

Reservoir is a multicultural mix of Italian‑Australian families, young professionals, students and migrants. About 32.1 % of properties are owned outright, 30.1 % have mortgages and 37.8 % are rented. Family households dominate, with 41.6 % couples with children and 38.2 % couples without children. Cafés along Edwardes Street and Broadway serve locals, while parks such as Edwardes Lake, Crispe Park and J.E. Moore Park provide ovals, playgrounds and lakeside walks. Community events and sports clubs create a laid‑back, inclusive vibe.

Housing and affordability

The housing stock ranges from 1950s weatherboard cottages and post‑war brick veneers to modern townhouses. Rents have risen around 7.1 % for houses (to ~$560 per week) and 6.7 % for units (to ~$480 per week), underpinning strong rental demand. Days on market sit around 60–65 days. Developers are active around the Reservoir Activity Centre, but heritage controls are limited, so streetscapes vary. Investors can still find freestanding houses under $900 k, but should budget for renovation and weatherboard maintenance.

Transport and infrastructure

Reservoir boasts good public transport. Reservoir Station on the Mernda line offers frequent trains to the city, and the level crossing removal project completed in late 2023 delivered a new elevated rail line and station. Buses connect to Preston, La Trobe University and Northcote. Major roads such as High Street and Plenty Road can be congested but provide direct access to the CBD and outer northern suburbs. Cycling is popular along the Darebin Creek Trail. Future projects include a proposed Suburban Rail Loop station and the revitalisation of Edwardes Street and Broadway shopping precincts. The Reservoir Leisure Centre is set for redevelopment – council has completed a scoping study and continues to invest in upgrades.

Schools and recreation

Education options include Reservoir High School, Reservoir East and West Primary Schools, St Gabriel’s Primary and the Northern School for Autism. La Trobe University is just up the road in Bundoora. Reservoir’s parks and sporting facilities are plentiful: Edwardes Lake offers a large man‑made lake with walking tracks; Crispe Park and J.E. Moore Park provide ovals and playgrounds. Flood risk is low in most of Reservoir; new flood mapping shows most identified areas are very low‑hazard with shallow water unlikely to enter buildings. Nevertheless, due diligence is wise near Darebin Creek and Merri Creek.

Strengths and weaknesses

Reservoir’s strengths lie in value for money, transport links and an authentic community feel. Infrastructure projects like the level crossing removal, Suburban Rail Loop and shopping precinct upgrades promise future uplift. However, the crime rate is relatively high, and some pockets near the station feel industrial or run‑down. Graffiti, dumping and inconsistent street maintenance detract from kerb appeal. Housing quality varies widely. Flood overlays are minimal but worth checking near waterways.

Who it’s best for

Reservoir suits first‑home buyers, families and investors seeking an affordable entry point within 12 km of the CBD. It’s ideal for those willing to renovate and capitalise on strong rental demand. It’s less suitable for buyers seeking prestige, low crime or a polished streetscape. The suburb rewards patience and active management.

Not far from the city, close proximity to everything. Great transport options with the trains from reservoir station with bus services from there, trams to the city. Edward’s lake park is beautiful spot to take the family. Close to Northland, Preston Market and has the summer hill shopping area which is getting better. Has great access to freeways and the airport. More and more restaurants and cafes popping up here. Noticed lots of young families including us moving to the area in the last few years. Many of the older homes here are being renovated. It’s a massive suburb so there are good and bad spots like in any suburb, we live on the east side between broadway and Tyler st, near the oak hill estate, which has a great community feel and lots of beautiful period homes. I think closer to Preston side of reservoir on both sides of high st/sprint st is your best spots here. Lots of school options available. I think reservoir is relatively affordable at the moment but is growing in popularity with young couples and families, which makes it a great spot for the years to come. Which at that point will a lot harder to buy into.

Reservoir is a suburb located in the northern part of Melbourne, Victoria, Australia. It is known for its diverse and multicultural community, offering a mix of residential and commercial areas. When it comes to shopping, Reservoir has a variety of options to cater to residents' needs.

Located only 12km north of Melbourne’s Central Business District, Reservoir is one of the largest suburbs by land area of Melbourne, home to a population of 51,096 people at the 2021 Census.

Nestled between Preston, Fawkner, Thomastown and Bundoora, the established suburb is gaining popularity among homeowners and astute investors for its location, vibe and easy access to public transport and major freeways, including CityLink.

Edwardes Street Shopping Strip: Edwardes Street is the primary shopping precinct in Reservoir. Here, you can find a range of retail stores, cafes, restaurants, and small businesses. It's a bustling area where you can buy groceries, clothing, and other essentials.

Broadway Shopping Centre: This shopping centre is located on the corner of Broadway and Edwardes Street. It offers a range of stores, including supermarkets, bakeries, and specialty shops, making it a convenient option for local residents.

Summerhill Shopping Centre: Situated in the southwestern part of Reservoir, this shopping centre is home to major retailers like Aldi and Kmart, along with several specialty stores and eateries. It's a popular destination for both shopping and dining.

Reservoir has various local markets, like the Reservoir Village Market, which offers fresh produce, artisanal goods, and handmade crafts. These markets provide an opportunity to support local businesses and enjoy a sense of community.

Reservoir is a vibrant and diverse suburb with a mix of residential housing options. It's known for its multicultural atmosphere, which is reflected in the variety of restaurants, shops, and cultural events in the area.

Reservoir is well-connected by public transport, with a recently updated train station that provides access to the Melbourne CBD. There are also multiple bus routes serving the area, making it easy to get around.

The suburb has several primary and secondary schools, making it a family-friendly place to live. There are a number of local primary schools in and around Reservoir, catering to public, private, religious, non-denominational and special needs students.
Reservoir Primary School, Government
Maharishi School, Independent
St Joseph The Worker Primary School, Catholic
Reservoir Views Primary School, Government
St Stephens Catholic Primary School, Catholic
Reservoir West Primary School, Government
St Gabriels Primary School, Catholic
Holy Name Primary School, Catholic
William Ruthven Primary School, Government
And for secondary students there is the public school Reservoir High School. For parents looking for a private option, Parade College is located close by in Bundoora.

Reservoir has several parks and recreational facilities, including Edwardes Lake Park, which is a popular spot for picnics and outdoor activities. There are also sporting clubs and community centers.
Housing: The housing in Reservoir includes a mix of older and more contemporary properties. You can find a range of housing options, from apartments to houses. The real estate market varies, so it's essential to research before purchasing or renting.

The multicultural community of Reservoir means you can enjoy a variety of cuisines and cultural festivals throughout the year. The suburb has a strong sense of community, and local events and organizations often foster this spirit.

Overall, Reservoir is a lively suburb with a strong community presence. Its diverse shopping options and proximity to public transportation make it a convenient and attractive place to live.

Great place to live easy access to all freeways and Main Roads airport shopping

Beautiful lake. Good schools. Great cafe's and eateries.

I bought a townhouse back in December 2020 and lived here since February 2021. Originally, I was aiming more at Thornbury and Preston, but after a few negative experiences (upon signing a contract, the building inspection revealed the foundations were sinking) I opted for something more stable and cheaper (which seemed to attract a lot of buyers'interest). A few months down the line, I can't believe how liveble the suburb is. I live in Reservoir East, near Oakhill village, and I have everything I need. Walking distance from a fairly lively part of Preston (corner of Plenty road and Tyler street) where plenty of cool cafes and bars are popping up (2 literally just opened), shopping malls, Reservoir Leisure centre and near tram stop 86, which drops me in front of my office in the CBD. Since I adopted a dog in April, I have literally explored every single corner of the southern part and I'm confident that the bad rep is no longer justified. I feel safe as a woman (not so much on the tram late in the evening, but I suppose that happens everywhere and don't love the vibe of the train station, which is 20 mins walk from here) .. and love the fact it is close to both Preston (and on the 'tofu belt' which connects me to Thornbury, Northcote, Fitzroy, etc) and Darrebin Creek...

I live on the north of Broadway, close to Reservoir Station (west of the leisure centre) and love it here. It's very convenient and close to the Reservoir Train station which recently had an uplift and is a bus interchange. It's a short drive to Northland, Preston market, Summerhill shopping complex, each which has its own charm. The leisure centre is very well run, communication during covid has been very clear and timely. The shopping strip along Broadway needs some uplift, but it's improving. I didn't expect to see so many brunch spots in the area, last I counted there were 4 just on the short strip on Broadway and they are well attended even on weekdays. One doubles as a bar at night.
There are plenty of schools to choose from in the area, Reservoir East Primary is fairly new (combination of multiple smaller primaries) and the school has a progressive view.
I'm glad we made the decision to move into the area before it became so popular!

I live in Mcmahon Road and been experiencing lots of wonderful things. My car got broken into a few times, someone smashed the window. Happened to my neighbours’ as well. Someone even nicked the license plate and mower. I can hear people shouting yelling almost every night. Maybe just in this area due to government housing area?

Up and coming suburb in Melbourne’s North

Not to far from the city
Lots of parks
Good public transport
Family friendly
Only going to go up in value