Reservoir (Vic.)

Population growth drivers in Reservoir are slightly above average based on AreaSearch's ranking of recent, and medium term trends

Based on analysis of ABS population updates for the broader area, and new addresses validated by AreaSearch, the Reservoir (Vic.) statistical area (Lv2) had an estimated population of around 55,592 as of Nov 2025. This reflected an increase of 4,496 people (8.8%) since the 2021 Census, which reported a population of 51,096 people. The change was inferred from the resident population of 54,439 estimated by AreaSearch following examination of the latest ERP data release by the ABS in June 2024 and an additional 956 validated new addresses since the Census date. This level of population equated to a density ratio of 2,921 persons per square kilometer, placing it in the upper quartile relative to national locations assessed by AreaSearch. The Reservoir (Vic.) (SA2)'s 8.8% growth since census positioned it within 0.9 percentage points of the national average (9.7%), demonstrating competitive growth fundamentals. Population growth for the area was primarily driven by overseas migration that contributed approximately 86.0% of overall population gains during recent periods.

AreaSearch adopted ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For any SA2 areas not covered by this data, AreaSearch utilised the VIC State Government's Regional/LGA projections released in 2023 with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group from these aggregations were also applied across all areas for years 2032 to 2041. Moving forward with demographic trends, exceptional growth, placing in the top 10 percent of Australian statistical areas, was predicted over the period with the Reservoir (Vic.) (SA2) expected to increase by 23,900 persons to 2041 based on aggregated SA2-level projections, reflecting an increase of 40.9% in total over the 17 years.

AreaSearch assessment of residential approval activity sees Reservoir among the top 30% of areas assessed nationwide

Based on AreaSearch analysis of ABS building approval numbers from statistical area data, Reservoir has experienced approximately 348 dwellings receiving development approval annually over the past five financial years, totalling an estimated 1744 homes. As of FY-26157 approvals have been recorded. Over these five years, on average, 0.2 people moved to the area per dwelling built. This suggests that supply has met or exceeded demand, offering greater buyer choice and supporting potential population growth above projections.

The average construction value of new homes is $418,000, which is higher than regional norms, indicating quality-focused development. Additionally, $1.5 million in commercial development approvals have been recorded this financial year, reflecting the area's residential nature. Compared to Greater Melbourne, Reservoir records 14% less building activity per person but ranks among the 75th percentile nationally. Currently, new building activity comprises 27% standalone homes and 73% medium and high-density housing, marking a significant shift from the current housing mix of 63% houses. This trend reflects reduced development site availability and addresses changing lifestyle demands and affordability requirements.

With approximately 162 people per dwelling approval, Reservoir exhibits characteristics of a growth area. According to AreaSearch's latest quarterly estimate, Reservoir is projected to add 22750 residents by 2041. If current construction levels persist, housing supply may lag population growth, potentially intensifying buyer competition and supporting price growth.

Reservoir has very high levels of nearby infrastructure activity, ranking in the top 20% nationally

The performance of an area can significantly be influenced by changes in local infrastructure, major projects, and planning initiatives. AreaSearch has identified a total of 31 projects that are expected to impact the area. Notable projects include Reservoir Leisure Centre Redevelopment, Suburban Rail Loop North, The Plenty Residences, and Reservoir Suburban Revitalisation Program. Those detailed below are likely to be most relevant.

Professional plan users can use the search below to filter and access additional projects.

Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.

Employment performance in Reservoir has been below expectations when compared to most other areas nationally

Reservoir's workforce is well-educated with notable representation in essential services sectors. The unemployment rate was 5.0% in the past year, with an estimated employment growth of 0.9%.

As of September 2025, 29,501 residents are employed, while the unemployment rate is higher than Greater Melbourne's at 4.7%, and workforce participation is lower at 60.1%. Key sectors for Reservoir residents include health care & social assistance, education & training, and construction. Public administration & safety has particularly high employment levels, at 1.3 times the regional average. However, professional & technical services are under-represented, with only 8.5% of Reservoir's workforce compared to Greater Melbourne's 10.1%.

Limited local employment opportunities are indicated by Census data comparing working population and resident population. In the past year, employment increased by 0.9%, labour force by 0.4%, leading to a 0.4 percentage point drop in unemployment. This contrasts with Greater Melbourne where employment grew by 3.0% while unemployment rose by 0.3%. State-level data up to 25-Nov shows Victorian employment grew by 1.13% year-on-year, with an unemployment rate of 4.7%, compared to the national rate of 4.3%. National employment forecasts from May-25 suggest a 6.6% increase over five years and 13.7% over ten years. Applying these projections to Reservoir's employment mix indicates local employment should grow by 6.6% over five years and 13.6% over ten years, though this is an illustrative extrapolation not accounting for local population projections.

The area's income profile falls below national averages based on AreaSearch analysis

According to AreaSearch's aggregation of the latest postcode level ATO data released for financial year ended June 2023, the suburb of Reservoir had a median income among taxpayers of $53,824 with the average level standing at $63,737. This is lower than national averages which were $57,688 and $75,164 for Greater Melbourne respectively. Based on Wage Price Index growth of 8.25% since financial year ended June 2023, estimated median income as of September 2025 would be approximately $58,264 and average income would be around $68,995. According to the Census conducted in August 2021, household incomes in Reservoir ranked at the 37th percentile, family incomes at the 37th percentile, and personal incomes also at the 37th percentile. The earnings profile shows that 32.2% of individuals in Reservoir earn between $1,500 and $2,999 annually, which is similar to the regional average of 32.8%. Housing affordability pressures are severe with only 82.2% of income remaining after housing costs, ranking at the 36th percentile. The area's SEIFA income ranking places it in the fifth decile.

Reservoir displays a diverse mix of dwelling types, with above-average rates of outright home ownership

Reservoir's dwelling structure, as per the latest Census, consisted of 63.2% houses and 36.8% other dwellings (semi-detached, apartments, 'other' dwellings). This compares to Melbourne metro's 60.2% houses and 39.8% other dwellings. Home ownership in Reservoir was at 32.1%, similar to Melbourne metro, with mortgaged dwellings at 30.2% and rented ones at 37.8%. The median monthly mortgage repayment in the area was $1,986, below Melbourne metro's average of $2,000. Median weekly rent in Reservoir was recorded at $360, compared to Melbourne metro's $371. Nationally, Reservoir's mortgage repayments are higher than the Australian average of $1,863, while rents are less than the national figure of $375.

Reservoir features high concentrations of group households and lone person households, with a fairly typical median household size

Family households constitute 64.0% of all households, including 26.9% couples with children, 24.1% couples without children, and 11.2% single parent families. Non-family households account for the remaining 36.0%, with lone person households at 30.8% and group households comprising 5.2% of the total. The median household size is 2.4 people, which aligns with the Greater Melbourne average.

Reservoir performs slightly above the national average for education, showing competitive qualification levels and steady academic outcomes

University qualification levels in Reservoir are at 33.7%, slightly below the SA3 area average of 37.9%. Bachelor degrees are the most common, with 21.4% of residents holding one. This is followed by postgraduate qualifications (9.1%) and graduate diplomas (3.2%).

Vocational credentials are also prevalent, with 27.3% of residents aged 15+ having them. Advanced diplomas account for 10.7%, while certificates make up 16.6%. Educational participation is high, with 28.1% of residents currently enrolled in formal education. This includes 7.8% in primary education, 6.8% in tertiary education, and 5.9% pursuing secondary education.

Transport servicing is good compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Reservoir has 330 active public transport stops, serving a mix of train, light rail, and bus services. These stops are covered by 16 routes, offering 9,512 weekly passenger trips in total. The average distance to the nearest stop for residents is 165 meters.

On average, there are 1,358 trips per day across all routes, resulting in approximately 28 weekly trips per stop.

Reservoir's residents are relatively healthy in comparison to broader Australia with the level of common health conditions among the general population somewhat typical, though higher than the nation's average among older cohorts

Reservoir's health metrics are close to national benchmarks.

Common health conditions among its general population are somewhat typical but higher than the nation's average among older cohorts. Private health cover is at approximately 52% of the total population (~28,935 people), slightly lagging that of the average SA2 area. The most common medical conditions in the area are mental health issues and arthritis, impacting 8.9 and 7.8% of residents respectively. 69.6% of residents declare themselves completely clear of medical ailments compared to 70.2% across Greater Melbourne. The area has 16.9% of residents aged 65 and over (9,395 people), which is higher than the 15.2% in Greater Melbourne. Health outcomes among seniors present some challenges requiring more attention than the broader population.

Reservoir is among the most culturally diverse areas in the country based on AreaSearch assessment of a range of language and cultural background related metrics

Reservoir's population shows high cultural diversity with 37.6% born overseas and 42.9% speaking a language other than English at home. Christianity is the predominant religion, comprising 49.0%. Islam is overrepresented compared to Greater Melbourne, making up 6.9% versus 6.1%.

The top three ancestry groups are English (15.4%), Australian (15.0%), and Italian (14.9%). Notably, Greek (6.1%) and Macedonian (2.1%) are equally represented compared to the regional average, while Lebanese is slightly overrepresented at 2.3% versus 1.8%.

Reservoir's population aligns closely with national norms in age terms

The median age in Reservoir is 38 years, close to Greater Melbourne's average of 37 and equivalent to Australia's median of 38. Compared to Greater Melbourne, Reservoir has a higher proportion of residents aged 25-34 (18.5%) but fewer residents aged 5-14 (9.1%). Between the 2021 Census and the present, the proportion of residents aged 35-44 has increased from 15.7% to 16.9%, while the proportion aged 45-54 has decreased from 12.6% to 12.0%. By 2041, Reservoir's age composition is expected to shift notably, with the 45-54 age group projected to grow by 58% (3,897 people), reaching a total of 10,569 from its current figure of 6,671.