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 -0.63%.
When looking at the potential capital gains offered to property investors over the last 3 years, Bendigo comes in at number 513th in VIC.
Bendigo, 3550 is offering VIC ‘s 159th 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.
At number 2636 in a list of fastest selling suburbs, Bendigo is in the bottom 40% of suburbs in Australia with an average of days on market 96.08 for properties listed there.
Using the current median advertised rental of $290 and the average annual increase in value of a median property of 5.88%, investors should hope to achieve an overall return of 3.79%
Investment property in Bendigo has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 44.10%
A 47.52% growth in median value for property investors in Bendigo,3550 puts this suburb at number 321th in terms of best performing suburbs in VIC
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.83% offered to property buyers. Sellers in Bendigo itself are offering an average vendor discount of -7.11% to real estate investors.
Residents and property investors in Bendigo have been waiting around 64.7 days to sell a property.
Bendigo is 251th on a list of best yielding suburbs for rents in VIC with a 3.63% return
Bendigo is one of Victoria's regional powerhouses, and its property market is backed by a diverse economy.Full summary
Information supplied by:
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.