Bendigo, Regional Victoria
Bendigo is one of the leading growth markets in Australia having earnt its popularity with buyers from Melbourne, Sydney and Canberra.
The standout features of the Bendigo property market are affordability (houses typically priced below $400,000), strong yields (5% to 5.5% is common) and some of the lowest vacancy rates in the nation (many postcodes are below 1%).
Bendigo has long been one of Victoria’s key regional centres, with growth thanks to its steady local economy, proximity to Melbourne and good transport links to the capital – especially now with the $5 billion Regional Rail Link operating.
Its economic prospects have improved with the $630 million re-development of Bendigo’s hospital, private sector plans to develop the city’s first master-planned residential community, and the awarding of a $1.3 billion Defence contract to a Bendigo-based business. Bendigo benefits economically from a number of major companies which are based locally but perform nationally – including Thales, the company that received the Defence contract recently.
Market activity picked up markedly in 2018 and early 2019, and prices are now rising in most postcodes.
This report covers Bendigo, California Gully, Eaglehawk, East Bendigo, Golden Square, Kangaroo Flat, Kennington, Long Gully, North Bendigo and Strathdale.