Suburb Profile Report for Bendigo VIC (3550)

Bendigo House: Median price $412,500, Annual capital growth 6.27%, Number of sales 115, Weekly median advertised rent $330

Bendigo Unit: Median price $275,000, Annual capital growth 1.61%, Number of sales 11, Weekly median advertised rent $290

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: Monthly data update for Sep 2019 as supplied by CoreLogic. Data is reported to the period ending Jun 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

At number 649th in the list of Australian suburbs ordered by increase in median house value over the last year, Bendigo, 3550 is in the top 20% with a property value increase of 8.61% recorded in median house prices.

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.

Property investors looking for a bargain in Bendigo should be aiming for at least -6.00% off the asking price, which is the average vendor discount being achieved at the moment.

Situated 132.17km from the CBD, Bendigo is one of Greater Bendigo (C) localities in the postcode 3550.

Bendigo, 3550 ranked 222th in VIC when comparing growth in median property values or capital gain over the last 12 months. Bendigo is one of 2099 in our list for VIC

A -7.09% growth in median value for property investors in Bendigo,3550 puts this suburb at number 8th in terms of best performing suburbs in VIC

Advertised rents are around the $290 mark per week – giving a return of 5.48% based on the median price in Suburb

Information supplied by:




M
O

W
E

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.

Metrics i HOUSE UNIT
$412,500 $275,000
5.97% 15.79%
8.61% -4.43%
6.27% 1.61%
$330 $290
115 11
4.16% 5.48%
61.6309523809524 N/A

Source: Monthly data update for Sep 2019 as supplied by CoreLogic. Data is reported to the period ending Jun 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Bendigo VIC
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
Chart Table