Bendigo, 3550 ranked 647th 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
If we look at median property appreciation over just the last three months, Bendigo has given property investors a paper return of -2.50%. This puts Suburb as 636 on a list of fastest fasting appreciating suburbs in VIC
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.14% offered to property buyers. Sellers in Bendigo itself are offering an average vendor discount of -5.75% to real estate investors.
In the last year 123 properties changed hands in Bendigo, which puts it as the 211th most active market in VIC when comparing the number of sales per suburb.
With the median price for a house in Bendigo being $390000 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 3.87%
At number 8th in the list of Australian suburbs ordered by increase in median house value over the last year, Bendigo, 3550 is in the top 10% with a property value increase of 44.23% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Bendigo,3550 has racked up an average of 44.23% over the period. This ranks it number 391th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Bendigo is giving property investors an average Vendor Discount of around -7.42%. This puts suburb at number 27th in VIC when ranking the most discounted suburbs.
At number 844 in a list of fastest selling suburbs, Bendigo is just in the bottom half of suburbs in Australia with an average of days on market 78.81 for properties listed there.
A $260 per week rent on the median house gives suburb investors a gross yield of circa 3.61%, without taking into account capital value appreciation, which has been averaging out at 7.58%.
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.