VIC has seen average median house prices change by 7.88% which means that Bendigo, 3550 has done well for property investors by showing a capital gain of 0.00% over the last year
If we look at median property appreciation over just the last three months, Bendigo has given property investors a paper return of -0.50%. This puts Suburb as 464 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 -5.39% offered to property buyers. Sellers in Bendigo itself are offering an average vendor discount of -6.14% to real estate investors.
On average over the past year, suburb has had 11.33 sales per month, which equates to 136 per year.
Situated 131.97km from the CBD, Bendigo is one of Greater Bendigo localities in the postcode 3550.
Over the last year, property investments in Bendigo, 3550 have given investors a capital gain of -15.22%. This compares very badly with the 6.03% for VIC as a whole.
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.
Bendigo3550 is located in VIC which offers an average discount of -4.82% to property investors. Bendigo itself is showing figures that indicate -8.47% is the average achievable by property buyers investing in the suburb.
A $275 per week rent on the median house gives suburb investors a gross yield of circa 4.89%, without taking into account capital value appreciation, which has been averaging out at 6.19%.
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.