VIC has seen average median house prices change by 9.78% which means that Bendigo, 3550 has done well for property investors by showing a capital gain of 4.30% over the last year
Taking the average capital gain, or increase in median house value, Bendigo,3550 has racked up an average of 4.30% over the period. This ranks it number 2609th in the whole country for real estate investors looking at median house price increases.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.71% offered to property buyers. Sellers in Bendigo itself are offering an average vendor discount of -7.85% to real estate investors.
Residents and property investors in Bendigo have been waiting around 104.92 days to sell a property.
Situated 131.03km from the CBD, Bendigo is one of Greater Bendigo localities in the postcode 3550.
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 46.48%.
Taking the average capital gain, or increase in median house value, Bendigo,3550 has racked up an average of 46.48% over the period. This ranks it number 403th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Bendigo 3550 should be seeing an average reduction in asking price of around -6.55% . This means that Bendigo is holding prices well when compared to other suburbs in VIC.
In the last year 21 properties changed hands in Bendigo, which puts it as the 289th most active market in VIC when comparing the number of sales per suburb.
Bendigo, 3550’s gross rental yield is 3.47%
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.