At number 3078th in the list of Australian suburbs ordered by increase in median house value over the last year, Bendigo, 3550 is in the BOTTOM 30% with a property value increase of -0.94% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Bendigo comes in at number 628th in VIC.
Sellers are offering property buyers an average discount of -6.56% to buyers in Bendigo at the moment, which is less than average for the rest of VIC.
With the median price for a house in Bendigo being $395000 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 3.95%
Giving property investors a a poor capital gain of -11.58% for the last year, Bendigo, 3550 is the 1579th highest performer in Australia in this respect.
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.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.60% offered to property buyers. Sellers in Bendigo itself are offering an average vendor discount of -8.68% to real estate investors.
Renters in Suburb are facing rents around $14170 per annum or $272.5 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.