With a capital gain of 6.00% for the last 12 months, Bendigo, 3550 has performed for property investments than its average annual 6.02% property growth over the last 5 years.
Over the longer term, Bendigo has seen property prices show investors a 15.22% return over the last 3 years. This is worse than over the last 12 months
The most recent median price for Bendigo is $397500, with sellers offering an average of -7.38% off the asking price.
Using the current median advertised rental of $285 and the average annual increase in value of a median property of 6.02%, investors should hope to achieve an overall return of 3.73%
Bendigo has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -5.11% to date .
Over the longer term, Bendigo has seen property prices show investors a -11.86% return over the last 3 years. This is an improvement over the last 12 months
Our latest figures would indicate that property sellers in Bendigo are currently offering property investors an average price cut of -6.01% below the asking price at the moment.
At number 428 in a list of fastest selling suburbs, Bendigo is in the TOP 30% of suburbs in Australia with an average of days on market 61.94 for properties listed there.
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.