Bendigo is in the bottom 40% in VIC when comparing median price capital growth over the last year. Bendigo gave property investors a disappointing capital gain figure when compared to the rest of the state, with -0.38%.
While Bendigo,3550 ranked number 239th in VIC for increase in median house value (annualised) increase, it is ranked 654th over the last 5 years.
Property buyers and investors in Bendigo 3550 should be seeing an average reduction in asking price of around -6.17% . This means that Bendigo is holding prices well when compared to other suburbs in VIC.
On average over the past year, suburb has had 11.33 sales per month, which equates to 136 per year.
Bendigo is 194th on a list of best yielding suburbs for rents in VIC with a 4.42% return
Bendigo is in the bottom 30% in VIC when comparing median price capital growth over the last year. Bendigo gave property investors a disappointing capital gain figure when compared to the rest of the state, with -3.76%.
Bendigo,3550 was ranked 1440 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Bendigo is offering property investors an average of -5.45. This rate of discount on properties puts Suburb at number 39th in terms of most discounted suburbs in VIC
On average over the past year, suburb has had 1.00 sales per month, which equates to 12 per year.
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.