At number 693th in the list of Australian suburbs ordered by increase in median house value over the last year, Bendigo, 3550 is in the top 20% with a property value increase of 14.67% recorded in median house prices.
Over the longer term, Bendigo has seen property prices show investors a 22.86% return over the last 3 years. This is worse than over the last 12 months
At number 96th of VIC’s most discounted properties, Bendigo is in the bottom 20% of the state/territory when listing in order of most discounted to least.
In the last year 120 properties changed hands in Bendigo, which puts it as the 210th most active market in VIC when comparing the number of sales per suburb.
Using the current median advertised rental of $290 and the average annual increase in value of a median property of 6.87%, investors should hope to achieve an overall return of 3.51%
If you compare the increase in value of investment property in Bendigo, 3550 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 49.81%.
At number 46th of VIC’s most discounted properties, Bendigo is in the bottom 20% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Bendigo have been waiting around 70.6 days to sell a property.
Bendigo, 3550’s gross rental yield is 3.24%
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.