Over the last year, property investments in Bendigo, 3550 have given investors a capital gain of 17.28%. This compares very favourably with the 7.80% for VIC as a whole.
A 37.50% growth in median value for property investors in Bendigo,3550 puts this suburb at number 97th in terms of best performing suburbs in VIC
Property buyers and investors in Bendigo 3550 should be seeing an average reduction in asking price of around -6.95% . This means that Bendigo is holding prices well when compared to other suburbs in VIC.
Situated 132.02km from the CBD, Bendigo is one of Greater Bendigo localities in the postcode 3550.
Investment property in Bendigo has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -9.82%
The five-year average increase in median property values for Bendigo,3550 has given property investors a potential capital gain of -11.35% across each of those five years.
The most recent median price for Bendigo is $257000, with sellers offering an average of -4.46% off the asking price.
A $250 per week rent on the median house gives suburb investors a gross yield of circa 5.06%, without taking into account capital value appreciation, which has been averaging out at 3.05%.
Bendigo is one of Victoria's regional powerhouses, and its property market is backed by a diverse economy.Full summary
Information supplied by:
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.