Property value increases in Bendigo have tracked higher than the VIC average of 7.68% over the last 12 months.
Over the longer term, Bendigo has seen property prices show investors a 22.06% return over the last 3 years. This is worse than over the last 12 months
The most recent median price for Bendigo is $415000, with sellers offering an average of -7.20% off the asking price.
The VIC suburb of Bendigo, 3550 is in the Greater Bendigo local government area.
If you compare the increase in value of investment property in Bendigo, 3550 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -7.68%.
When looking at the potential capital gains offered to property investors over the last 3 years, Bendigo comes in at number 349th in VIC.
Vendor discounting in Bendigo is giving property investors an average Vendor Discount of around -4.94%. This puts suburb at number 158th in VIC when ranking the most discounted suburbs.
On average over the past year, suburb has had 2.17 sales per month, which equates to 26 per year.
Renters in Suburb are facing rents around $2880 per annum or $240 every week.
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.