Bendigo, Regional Victoria
Bendigo is well positioned to produce above-average price growth in the near future. Our research shows it is the No.1 municipality in Victoria for rising buyer demand and this is starting to translate into increases in median prices in many of the city’s suburbs.
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.
It has had steady long-term price growth (averaging around 5-6% per year) in its housing market but remains affordable, with solid rental yields available for investors. Market activity picked up markedly in 2018 and prices are now rising.
This report covers Bendigo, California Gully, Eaglehawk, East Bendigo, Golden Square, Kangaroo Flat, Kennington, Long Gully, North Bendigo and Strathdale.
Bendigo was Hotspot of the Week on June 11th 2019