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.
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.