Suburb Profile Report for Bendigo VIC (3550)

Bendigo House: Median price $388,500, Annual capital growth 5.98%, Number of sales 136, Weekly median advertised rent $330

Bendigo Unit: Median price $281,500, Annual capital growth 6.87%, Number of sales 12, Weekly median advertised rent $253

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  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Bendigo is in the bottom 40% in VIC when comparing median price capital growth over the last year. Bendigo gave property investors a disappointing capital gain figure when compared to the rest of the state, with -0.38%.

While Bendigo,3550 ranked number 239th in VIC for increase in median house value (annualised) increase, it is ranked 654th over the last 5 years.

Property buyers and investors in Bendigo 3550 should be seeing an average reduction in asking price of around -6.17% . This means that Bendigo is holding prices well when compared to other suburbs in VIC.

On average over the past year, suburb has had 11.33 sales per month, which equates to 136 per year.

Bendigo is 194th on a list of best yielding suburbs for rents in VIC with a 4.42% return

Bendigo is in the bottom 30% in VIC when comparing median price capital growth over the last year. Bendigo gave property investors a disappointing capital gain figure when compared to the rest of the state, with -3.76%.

Bendigo,3550 was ranked 1440 in Australia by increase in median property value over the quarter.

LACK OF BUYER INTEREST may well be the reason that Bendigo is offering property investors an average of -5.45. This rate of discount on properties puts Suburb at number 39th in terms of most discounted suburbs in VIC

On average over the past year, suburb has had 1.00 sales per month, which equates to 12 per year.

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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
$388,500 $281,500
0.91% -4.98%
-0.38% -3.76%
5.98% 6.87%
$330 $253
136 12
4.42% 4.66%
113 94.33

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

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