Suburb Profile Report for Bendigo VIC (3550)

Bendigo House: Median price $390,000, Annual capital growth 5.68%, Number of sales 123, Weekly median advertised rent $290

Bendigo Unit: Median price $375,000, Annual capital growth 7.58%, Number of sales 20, Weekly median advertised rent $260

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

Source: CoreLogic

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Bendigo, 3550 ranked 647th in VIC when comparing growth in median property values or capital gain over the last 12 months. Bendigo is one of 2098 in our list for VIC

If we look at median property appreciation over just the last three months, Bendigo has given property investors a paper return of -2.50%. This puts Suburb as 636 on a list of fastest fasting appreciating suburbs in VIC

State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.14% offered to property buyers. Sellers in Bendigo itself are offering an average vendor discount of -5.75% to real estate investors.

In the last year 123 properties changed hands in Bendigo, which puts it as the 211th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Bendigo being $390000 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 3.87%

At number 8th in the list of Australian suburbs ordered by increase in median house value over the last year, Bendigo, 3550 is in the top 10% with a property value increase of 44.23% recorded in median house prices.

Taking the average capital gain, or increase in median house value, Bendigo,3550 has racked up an average of 44.23% over the period. This ranks it number 391th in the whole country for real estate investors looking at median house price increases.

Vendor discounting in Bendigo is giving property investors an average Vendor Discount of around -7.42%. This puts suburb at number 27th in VIC when ranking the most discounted suburbs.

At number 844 in a list of fastest selling suburbs, Bendigo is just in the bottom half of suburbs in Australia with an average of days on market 78.81 for properties listed there.

A $260 per week rent on the median house gives suburb investors a gross yield of circa 3.61%, without taking into account capital value appreciation, which has been averaging out at 7.58%.

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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
$390,000 $375,000
-2.50% N/A
-2.50% 44.23%
5.68% 7.58%
$290 $260
123 20
3.87% 3.61%
85 78.81

Source: CoreLogic

DSR Score for property investment : Above average (H), Balanced (U)
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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