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Why Live and Invest in Bendigo

04 August 2023
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Despite a downturn in the property market across both metropolitan and rural areas in Victoria, Bendigo is bucking the trend and remains one of the shining lights for investors or those looking to make a permanent move.

There is no hiding from the fact that the Victorian property market, and property market nationwide, has experienced a significant downturn over the last 12 months; increased interest rates by the Reserve Bank of Australia, along with a rise in inflation have been the contributing factors to these down times.

However, despite the gloomy market, Bendigo and its surrounding suburbs have bucked the trend.

Bendigo truly is a town of contrasts. It’s well-known and storied gold rush history can still be seen as you walk the town’s stunning and picturesque streets, which are splashed with grand period architecture that is slowly making way for more modern and luxurious home.

Complementing the residential appeal, Bendigo also boasts a thriving arts scene, gastronomic wonders which leave food and wine aficionados giddy with delight, and family friendly amenities and attractions from quality schools to majestic parklands. So as far as rural townships go, it really is the complete package.

An article by released earlier in the year (read here) listed 73 Aussie suburbs which were ‘bulletproof’ when it comes to the housing market. Of all the regional areas in Victoria, Bendigo sat proudly on the list along with the surrounding suburbs of Quarry Hill, Ironbark, Maiden Gully, and Kangaroo Flat. And the number don’t lie.

The article cited Bendigo and its impressive unit market, which is a very attractive prospect for budding investors. The article noted Bendigo’s median unit pricing (over a 3-month period ending November 2022) enjoyed a growth of 0.2%. While 0.2% doesn’t sound significant, any positive growth in a market where everything across the board has dropped, is a very impressive feat.

When it came to house median prices, Maiden Gully, Ironbark, and Quarry Hill all saw increases, with Ironbark raising its median house price 2.6% in that 3-month period.

An article in the Herald Sun (read here) early in the year also cited Bendigo and surrounds as an area you should look to purchase in in 2023 thanks to its strong credentials.

“Kangaroo Flat is the city side of Bendigo, it takes about 20 minutes off the trip to Melbourne. There’s a train station there or it's a 1.15hr drive to Melbourne,” noted Mike McCarthy to the Herald Sun, who is the Chief Executive Office of the Barry Plant Group.

“There’s pretty good value there up to $750,000 for first-home buyers, plus the benefits of a tree change, particularly with Commonwealth Games infrastructure starting to ramp up there. There will be a big legacy.’

Looking at data over a longer time period shines an even brighter light on Bendigo. Delving back into yearly median housing prices 5 years ago (from July 2017 to June 2018), Bendigo sat at $392,500. As it stands currently (from June 2022-May 2023), Bendigo median housing prices are at $592,000, which is a healthy increase of over 50%.

So whether you’re a family looking to experience all the best that the town has to offer, or a keen investor wanting to begin or add to your thriving portfolio, there has never been a better time to make the switch to Bendigo.

04 August 2023
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