Reservoir (Vic.)

Population growth drivers in Reservoir are strong compared to national averages based on AreaSearch's ranking of recent, and medium to long-term trends

As of November 2025, the estimated population of the suburb of Reservoir (Vic.) is around 54,970, reflecting an increase of 3,874 people since the 2021 Census. This growth represents a 7.6% rise from the previous population count of 51,096. The estimated resident population of 54,440, as calculated by AreaSearch following examination of the latest ERP data release by the ABS (June 2024), and an additional 956 validated new addresses since the Census date, indicates a density ratio of 2,888 persons per square kilometer. This places Reservoir in the upper quartile relative to national locations assessed by AreaSearch. The suburb's population growth rate of 7.6% since the census is within 1.3 percentage points of the national average (8.9%), indicating competitive growth fundamentals. Overseas migration contributed approximately 86.0% of overall population gains during recent periods, driving primary growth in the area.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022. For areas not covered by this data, AreaSearch utilizes VIC State Government's Regional/LGA projections from 2023, adjusted using weighted aggregation methods to SA2 levels. Growth rates by age group are applied across all areas for the years 2032 to 2041. According to these projections, exceptional growth is predicted for Reservoir over the period, with an expected increase of 23,898 persons to 2041, reflecting a total increase of 42.5% over the 17 years.

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

AreaSearch analysis of ABS building approval numbers shows Reservoir experienced around 348 dwelling approvals per year over the past five financial years from FY21 to FY25. This totals an estimated 1,743 homes. As of FY26, 98 approvals have been recorded. The average population increase per dwelling built in this period was 0.2 people per year.

This indicates supply meeting or exceeding demand, offering greater buyer choice and supporting potential population growth above projections. Average new home construction costs were $418,000, aligning with broader regional development trends. In FY26, Reservoir recorded $1.5 million in commercial development approvals, reflecting its residential nature. Compared to Greater Melbourne, Reservoir has 14.0% less building activity per person but ranks among the 75th percentile of areas nationally assessed. New building activity consists of 27.0% standalone homes and 73.0% medium and high-density housing, showing a shift from the current housing mix (63.0% houses).

This trend caters to downsizers, investors, and entry-level buyers. 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 around 23,370 residents by 2041. If current construction levels persist, housing supply may lag behind population growth, potentially intensifying buyer competition and supporting price growth.

Reservoir has very high levels of nearby infrastructure activity, ranking in the top 10% nationally

The performance of a region is significantly influenced by changes to local infrastructure, major projects, and planning initiatives. AreaSearch has identified 32 such projects that could impact this area. Notable projects include the Reservoir Leisure Centre Redevelopment, Suburban Rail Loop North, The Plenty Residences, and Reservoir Suburban Revitalisation Program. Details of these most relevant projects are provided below.

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

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Reservoir has seen below average employment performance when compared to national benchmarks

Reservoir has an educated workforce with key services sectors well-represented. Its unemployment rate is 4.6%, matching Greater Melbourne's rate, while employment grew by 2.7% in the past year (AreaSearch data).

As of June 2025, 29,465 residents are employed, with participation rates at 60.1%. Major industries include health care & social assistance, education & training, and construction. Notably, public administration & safety has employment levels 1.3 times the regional average. However, professional & technical services are under-represented at 8.5% compared to Greater Melbourne's 10.1%.

The area offers limited local employment opportunities, as indicated by Census data. In the year ending Sep-22, employment increased by 2.7%, labour force by 1.4%, and unemployment fell by 1.2 percentage points (AreaSearch analysis). Comparatively, Greater Melbourne saw employment grow by 3.5% and unemployment rise by 0.5%. Jobs and Skills Australia forecasts national employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Reservoir's industry mix suggests local employment should increase by 6.6% in five years and 13.6% in ten years, though this is a simplified extrapolation for illustrative purposes only.

Income levels align closely with national averages, indicating typical economic conditions for Australian communities according to AreaSearch analysis

According to AreaSearch's aggregation of the latest postcode level ATO data released for financial year 2022, Reservoir had a median income among taxpayers of $53,803. The average income stood at $63,711. This was slightly lower than the national average and compared to levels of $54,892 and $73,761 across Greater Melbourne respectively. Based on Wage Price Index growth of 12.16% since financial year 2022, current estimates for Reservoir would be approximately $60,345 (median) and $71,458 (average) as of September 2025. According to the 2021 Census figures, household, family, and personal incomes in Reservoir rank modestly, between the 37th and 37th percentiles. The earnings profile shows that the $1,500 - 2,999 earnings band captures 32.2% of the community (17,700 individuals), aligning with the region where this cohort likewise represents 32.8%. Housing affordability pressures are severe in Reservoir, 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 5th 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). In comparison, Melbourne metro had 60.2% houses and 39.8% other dwellings. Home ownership in Reservoir was 32.1%, similar to Melbourne metro's figure. Dwellings were either mortgaged (30.2%) or rented (37.8%). The median monthly mortgage repayment in Reservoir was $1,986, lower than Melbourne metro's average of $2,000. The median weekly rent was $360, compared to Melbourne metro's $371. Nationally, Reservoir's mortgage repayments were higher than the Australian average of $1,863, while rents were 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 stand at 33.7%, slightly below the SA3 area average of 37.9%. Bachelor degrees are most prevalent at 21.4%, followed by postgraduate qualifications (9.1%) and graduate diplomas (3.2%). Vocational credentials are held by 27.3% of residents aged 15+, with advanced diplomas at 10.7% and certificates at 16.6%.

Educational participation is high, with 28.1% of residents currently enrolled in formal education: 7.8% in primary, 6.8% in tertiary, and 5.9% in secondary education. Sixteen schools serve 3,970 students, with typical Australian school conditions (ICSEA: 1021) and balanced educational opportunities. The educational mix includes 10 primary, 5 secondary, and 1 K-12 school. School places per 100 residents (7.2) are below the regional average (10.2), with some students likely attending schools in adjacent areas. Note: where schools show 'n/a' for enrolments please refer to parent campus.

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

Reservoir has 330 operational public transport stops. These include train, lightrail, and bus services. There are 16 routes in total, serving 14,646 weekly passenger trips.

The average distance to the nearest stop for residents is 165 meters. Daily service frequency averages 2,092 trips across all routes, equating to approximately 44 weekly trips per individual 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. Approximately 52% of Reservoir's total population (~28,606 people) has private health cover, slightly higher than the average SA2 area. The most common medical conditions in the area are mental health issues and arthritis, affecting 8.9 and 7.8% of residents respectively. About 69.6% of residents declare themselves completely clear of medical ailments, compared to 70.2% across Greater Melbourne. As of 15 June 20XX, 16.9% of Reservoir's residents are aged 65 and over (9,289 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 has a high level of cultural diversity, with 37.6% of its population born overseas and 42.9% speaking a language other than English at home. The predominant religion in Reservoir is Christianity, accounting for 49.0% of the population. Islam is slightly overrepresented in Reservoir compared to Greater Melbourne, making up 6.9% versus 6.1%.

The top three ancestry groups based on parents' country of birth are English (15.4%), Australian (15.0%), and Italian (14.9%). Notably, Greek (6.1%) and Macedonian (2.1%) populations are equally represented in Reservoir as they are regionally, while Lebanese people are slightly overrepresented at 2.3% compared to the regional average of 1.8%.

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

The median age in Reservoir is 38, close to Greater Melbourne's average of 37 and equivalent to the Australian 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 now, the age group 35-44 has grown from 15.7% to 16.9% of the population. Conversely, the age group 45-54 has declined from 12.6% to 12.0%. By 2041, Reservoir's age composition is expected to shift notably. The 45-54 age group is projected to grow by 60%, reaching 10,569 people from the current figure of 6,596.