Reservoir hotspot forecast faces weekend auction test

Reservoir hotspot forecast faces weekend auction test
Reservoir hotspot forecast faces weekend auction test

There are 614 Melbourne homes scheduled to go under the hammer this weekend.

It is up on last weekend’s 549 and 80 or so higher than the 531 conducted over the same weekend a year ago.

The most popular region for auction listings this weekend in Melbourne is the west with 104 followed by the inner south with 96, the inner city with 87, the north-east with 84, the inner east 76, and the outer east with 66 auctions scheduled.

Reservoir is the most popular suburb for auction listings this weekend in metro Melbourne with 15 listings in the north-east locality.

The next busiest is Mount Waverley in outer east, Carnegie in the inner south and Doncaster in the inner east each with 10 auctions. 

Reservoir was pinpointed this week as a possible Melbourne hotspot.

"Everyone wants to buy in a “hotspot” area that becomes trendy and popular in the near future and allows investors to take advantage of some good capital growth over a shorter time period," Frank Valentic, managing director of award-winning buyers' agency Advantage Property Consulting said.

Reservoir is located 12 kilometres north of the CBD, bounded by the Merri Creek in the west, and the Darebin Creek in the east, a mixed use suburb in Melbourne's north.

The suburb has significant industrial areas in the west and a commercial focus around the railways station and along Broadway.

Reservoir is well represented by the Italian population and also features the Reservoir Private Hospital and Edwardes Lake Park.

One of the auction offerings, at 55 Nesbitt Street (pictured above), is promoted as "nest or invest". 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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Auctions Melbourne

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