Three-bedroom houses in Bendigo the big improvers

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If you happen to own a three-bedroom house in Bendigo, then you have reason to be celebrating. 

Figures from the Real Estate Institute of Victoria (REIV) show that three-bedroom houses in Bendigo have experienced the highest rate of capital growth compared of any house type in Victoria’s regional centres in the past year. 

In the 12 months to March 31, the median price of a three-bedroom house in Bendigo saw a 16.9% increase to $397,000.

Across the state three-bedroom houses proved to be strong performers, with a 6.9% increase for median values in regional areas and 9.4% increase for median values in Melbourne. 

REIV chief executive officer Enzo Raimondo believes new infrastructure projects in the Bendigo region, such as the new Bendigo Hospital, and its proximity to Melbourne are the reason it was the top regional performer over the past 12 months. 

“Like many regional centres within commuting distance of Melbourne, Bendigo is sought-after by those priced out of the Melbourne market and seeking a more affordable home in a location offering a great lifestyle,” Raimondo said.

Three-bedroom homes in Kyneton were the next best performers, with 13.5% growth and a $420,000 median, followed by Ballarat Central with 12.7% and a median price of $332,500 for three-bedroom homes.

Also showing strong annual growth were four-bedroom homes in Wodonga and Drouin and three-bedroom homes in Ballarat East, Belmont, Corio, Geelong West and Mildura.

 

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