Suburb Profile Report for Bendigo VIC (3550)

Bendigo House: Median price $385,000, Annual capital growth 5.94%, Number of sales 137, Weekly median advertised rent $280

Bendigo Unit: Median price $258,500, Annual capital growth 3.35%, Number of sales 21, Weekly median advertised rent $250

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Source: CoreLogic

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VIC has seen average median house prices change by 8.13% which means that Bendigo, 3550 has done well for property investors by showing a capital gain of 12.99% over the last year

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.

Bendigo, 3550 is offering VIC ‘s 213th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.

With the median price for a house in Bendigo being $385000 and the advertised rent reaching $280 the gross rental yield for property investors calculates out to be 3.78%

Bendigo is in the bottom 10% in VIC when comparing median price capital growth over the last year. Bendigo gave property investors a dismal capital gain figure when compared to the rest of the state, with -8.50%.

Bendigo,3550 was ranked 644 in Australia by increase in median property value over the quarter.

Sellers are offering property buyers an average discount of -4.46% to buyers in Bendigo at the moment, which is less than average for the rest of VIC.

On average over the past year, suburb has had 1.75 sales per month, which equates to 21 per year.

Property investors should expect to get $250 weekly from the median priced house in this suburb.

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Bendigo is one of Victoria's regional powerhouses, and its property market is backed by a diverse economy.Full summary

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.

Close
HOUSE UNIT
$385,000 $258,500
2.67% 0.98%
12.99% -8.50%
5.94% 3.35%
$280 $250
137 21
3.78% 5.03%
96.69 53.61

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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Demographics
Total population 5774
Median household income ($/weekly) 957
Median age of persons 37
Median housing loan repayment ($/monthly) 1300
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 658 11.4
    25-34 years 754 13.1
    35-44 years 763 13.2
    45-54 years 789 13.7
    55-64 years 760 13.2
    Others 2051 35.5
    Age Group
    Census Count Percent(%)
    Not Married 2130 52.2
    Registered Married 1555 38.1
    Defacto Relationship 392 9.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 4775 90.4
    Indonesia 40 0.8
    Papua New Guinea 42 0.8
    United Kingdom 154 2.9
    Other 89 1.7
    Others 185 3.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 106 2.1
    Christianity 3238 63.9
    Hinduism 18 0.4
    Other Religious Groups 20 0.4
    No Religion 1662 32.8
    Others 23 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 213 9.8
    $400-$599 317 14.6
    $600-$799 239 11.0
    $1,000-$1,249 216 10.0
    $1,500-$1,999 223 10.3
    Others 961 44.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1619 36.7
    Not in the labour force 1500 34.0
    Employed, worked part-time 927 21.0
    Unemployed, looking for work 189 4.3
    Employed, away from work 172 3.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 323 11.9
    Professionals 767 28.3
    Technicians & trades workers 333 12.3
    Community & personal service workers 297 10.9
    Clerical & administrative workers 327 12.0
    Others 668 24.6
    Occupation
    Census Count Percent(%)
    Pre-school 77 5.9
    Infants/Primary 396 30.2
    Secondary 330 25.2
    Technical or Further Educational Institution 156 11.9
    University or other Tertiary Institutions 306 23.4
    Others 45 3.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4242 83.4
    Semi-detached, row or terrace house, townhouse 584 11.5
    Flat, unit or apartment 218 4.3
    House or flat attached to a shop, office 42 0.8
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1007 43.6
    Fully owned 691 30.0
    Being purchased 594 25.7
    Other tenure type 15 0.7
    Tenure Type
Census 2011, ABS
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