Investment property in Bendigo has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 6.33%
The five-year average increase in median property values for Bendigo,3550 has given property investors a potential capital gain of 32.92% across each of those five years.
The most recent median price for Bendigo is $398750, with sellers offering an average of -7.55% off the asking price.
Property investors should expect to get $290 weekly from the median priced house in this suburb.
Bendigo, 3550 ranked 316th in VIC when comparing growth in median property values or capital gain over the last 12 months. Bendigo is one of 2098 in our list for VIC
When looking at the potential capital gains offered to property investors over the last 3 years, Bendigo comes in at number 358th in VIC.
Sellers are offering property buyers an average discount of -6.43% to buyers in Bendigo at the moment, which is less than average for the rest of VIC.
With the median price for a house in Bendigo being $260000 and the advertised rent reaching $250 the gross rental yield for property investors calculates out to be 5.00%
Bendigo is one of Victoria's regional powerhouses, and its property market is backed by a diverse economy.Full summary
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Bendigo is one of Victoria's regional powerhouses, and its property market is backed by a diverse economy.
“Located approximately 130km north of Melbourne’s CBD, Bendigo exists as one of Victoria’s key rural hubs. The area has a diverse and robust economy that comprises mining, agriculture, manufacturing, tourism, health, and a strong financial presence, with Australia’s only provincial stock exchange,” explains PRDnationwide’s Dan O’Halloran.
“The Bendigo real estate market is large enough to maintain a reasonable level of supply and demand throughout tough economic conditions, which makes it an attractive and secure investment option.”
He adds that Bendigo’s relative affordability compared to Melbourne, coupled with a strong community vibe assists to attract many new homeowners to the area each year. Rental yields are strong too, which will be of interest to investors.
Its demographics certainly look strong, with population growth averaging out at just under 2% per year over four years, according to ABS statistics. Renters make up around a third of the market.