Suburb Profile Report for Bendigo VIC (3550)

Bendigo House: Median price $390,000, Annual capital growth 6.11%, Number of sales 129, Weekly median advertised rent $285

Bendigo Unit: Median price $260,000, Annual capital growth 3.72%, Number of sales 26, Weekly median advertised rent $245

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: CoreLogic

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Bendigo is in the bottom 30% in VIC when comparing median price capital growth over the last year. Bendigo gave property investors a disappointing capital gain figure when compared to the rest of the state, with 4.42%.

Across a shorter period, Bendigo, 3550 has seen a median price increase of -2.50% over the last quarter.

Bendigo, 3550 is offering VIC ‘s 182th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this VIC.

On average over the past year, suburb has had 10.75 sales per month, which equates to 129 per year.

Over the last year, property investments in Bendigo, 3550 have given investors a capital gain of -2.99%. This compares badly with the 3.11% for VIC as a whole.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bendigo has increased when compared to the 5 year average annual rate.

Bendigo3550 is located in VIC which offers an average discount of -5.12% to property investors. Bendigo itself is showing figures that indicate -6.01% is the average achievable by property buyers investing in the suburb.

With the median price for a house in Bendigo being $260000 and the advertised rent reaching $245 the gross rental yield for property investors calculates out to be 4.90%

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Bendigo is one of Victoria's regional powerhouses, and its property market is backed by a diverse economy.Full summary

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.

Close
HOUSE UNIT
$390,000 $260,000
-2.50% N/A
4.42% -2.99%
6.11% 3.72%
$285 $245
129 26
3.80% 4.90%
102.87 61.37

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
Find a mortgage broker in Bendigo VIC
Demographics
Total population 5774
Median household income ($/weekly) 957
Median age of persons 37
Median housing loan repayment ($/monthly) 1300
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 658 11.4
    25-34 years 754 13.1
    35-44 years 763 13.2
    45-54 years 789 13.7
    55-64 years 760 13.2
    Others 2051 35.5
    Age Group
    Census Count Percent(%)
    Not Married 2130 52.2
    Registered Married 1555 38.1
    Defacto Relationship 392 9.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 4775 90.4
    Indonesia 40 0.8
    Papua New Guinea 42 0.8
    United Kingdom 154 2.9
    Other 89 1.7
    Others 185 3.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 106 2.1
    Christianity 3238 63.9
    Hinduism 18 0.4
    Other Religious Groups 20 0.4
    No Religion 1662 32.8
    Others 23 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 213 9.8
    $400-$599 317 14.6
    $600-$799 239 11.0
    $1,000-$1,249 216 10.0
    $1,500-$1,999 223 10.3
    Others 961 44.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1619 36.7
    Not in the labour force 1500 34.0
    Employed, worked part-time 927 21.0
    Unemployed, looking for work 189 4.3
    Employed, away from work 172 3.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 323 11.9
    Professionals 767 28.3
    Technicians & trades workers 333 12.3
    Community & personal service workers 297 10.9
    Clerical & administrative workers 327 12.0
    Others 668 24.6
    Occupation
    Census Count Percent(%)
    Pre-school 77 5.9
    Infants/Primary 396 30.2
    Secondary 330 25.2
    Technical or Further Educational Institution 156 11.9
    University or other Tertiary Institutions 306 23.4
    Others 45 3.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4242 83.4
    Semi-detached, row or terrace house, townhouse 584 11.5
    Flat, unit or apartment 218 4.3
    House or flat attached to a shop, office 42 0.8
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1007 43.6
    Fully owned 691 30.0
    Being purchased 594 25.7
    Other tenure type 15 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals