VIC has seen average median house prices change by 11.63% which means that Bendigo, 3550 has done well for property investors by showing a capital gain of -7.56% 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 0.00%. This puts Suburb as 562 on a list of fastest fasting appreciating suburbs in VIC
Bendigo3550 is located in VIC which offers an average discount of -5.00% to property investors. Bendigo itself is showing figures that indicate -5.95% is the average achievable by property buyers investing in the suburb.
Property value increases in Bendigo have tracked just higher than the VIC average of 6.52% over the last 12 months.
When looking at the potential capital gains offered to property investors over the last 3 years, Bendigo comes in at number 292th in VIC.
LACK OF BUYER INTEREST may well be the reason that Bendigo is offering property investors an average of -4.58. This rate of discount on properties puts Suburb at number 88th in terms of most discounted suburbs in VIC
Renters in Suburb are facing rents around $3120 per annum or $260 every week.
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.