VIC has seen average median house prices change by 3.76% which means that Bendigo, 3550 has done well for property investors by showing a capital gain of -0.83% over the last year
Taking the average capital gain, or increase in median house value, Bendigo,3550 has racked up an average of -0.83% over the period. This ranks it number 2306th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Bendigo are currently offering property investors an average price cut of -5.90% below the asking price at the moment.
Bendigo is 142th on a list of best yielding suburbs for rents in VIC with a 4.44% return
If you compare the increase in value of investment property in Bendigo, 3550 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -8.43%.
Comparing Bendigo,3550 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
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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.