Suburb Profile Report for Bendigo VIC (3550)

Bendigo House: Median price $397,500, Annual capital growth 6.02%, Number of sales 126, Weekly median advertised rent $285

Bendigo Unit: Median price $260,000, Annual capital growth 3.73%, Number of sales 27, Weekly median advertised rent $248

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: CoreLogic

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  • Expert Report

With a capital gain of 6.00% for the last 12 months, Bendigo, 3550 has performed for property investments than its average annual 6.02% property growth over the last 5 years.

Over the longer term, Bendigo has seen property prices show investors a 15.22% return over the last 3 years. This is worse than over the last 12 months

The most recent median price for Bendigo is $397500, with sellers offering an average of -7.38% off the asking price.

Using the current median advertised rental of $285 and the average annual increase in value of a median property of 6.02%, investors should hope to achieve an overall return of 3.73%

Bendigo has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -5.11% to date .

Over the longer term, Bendigo has seen property prices show investors a -11.86% return over the last 3 years. This is an improvement over the last 12 months

Our latest figures would indicate that property sellers in Bendigo are currently offering property investors an average price cut of -6.01% below the asking price at the moment.

At number 428 in a list of fastest selling suburbs, Bendigo is in the TOP 30% of suburbs in Australia with an average of days on market 61.94 for properties listed there.

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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
Metrics i HOUSE UNIT
$397,500 $260,000
-0.63% -0.95%
6.00% -5.11%
6.02% 3.73%
$285 $248
126 27
3.73% 4.95%
104.89 61.94

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
Find a mortgage broker in Bendigo VIC
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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Recent sales & rentals