Bendigo is in the bottom 30% in VIC when comparing median price capital growth over the last year. Bendigo gave property investors a disappointing capital gain figure when compared to the rest of the state, with 4.42%.
Across a shorter period, Bendigo, 3550 has seen a median price increase of -2.50% over the last quarter.
Bendigo, 3550 is offering VIC ‘s 182th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this VIC.
On average over the past year, suburb has had 10.75 sales per month, which equates to 129 per year.
Over the last year, property investments in Bendigo, 3550 have given investors a capital gain of -2.99%. This compares badly with the 3.11% for VIC as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bendigo has increased when compared to the 5 year average annual rate.
Bendigo3550 is located in VIC which offers an average discount of -5.12% to property investors. Bendigo itself is showing figures that indicate -6.01% is the average achievable by property buyers investing in the suburb.
With the median price for a house in Bendigo being $260000 and the advertised rent reaching $245 the gross rental yield for property investors calculates out to be 4.90%
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.