Over the last year, property investments in Bendigo, 3550 have given investors a capital gain of -9.88%. This compares very badly with the 10.47% for VIC as a whole.
Comparing Bendigo,3550 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
At number 127th of VIC’s most discounted properties, Bendigo is in the bottom 20% of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Bendigo the average time real estate has been on the market is 89.33 days.
Giving property investors a a poor capital gain of -25.95% for the last year, Bendigo, 3550 is the 1718th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Bendigo,3550 has racked up an average of -25.95% over the period. This ranks it number 1583th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Bendigo is $292500, with sellers offering an average of -10.02% off the asking price.
Property investors should expect to get $270 weekly from the median priced house in this suburb.
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.