What is the general opinion on the Bendigo area? For living and for investment.
I dont have stats on it.High rental vacancies there?
Long term growth predictions?There's alot available for well under 200k.
Overall would it be a good investment choice for someone on a low budge (under 200k)?
Hi Longroad. Can't help with stats, but was talking about it with family that live there this week, and concensus was 'nothing much has happenede there price wisw for a few years…' That said, they have been affected by drought, and water restrictions, but I feel property is undervalued compared to other similar siza regional centres, and in the pricepoint you mention, as long as you avoided any suss areas I would think it hard to go wrong. WOudl certainly appear room for growth. Why not do some more research and let us know. All the best.
Hi Longroad,
I live in Bendigo and have 2 investment properties here.I love Bendigo,its not to big or small.We have a population of approx 90000.Rental vacancies are pretty low and I have never had a problem finding tenants.We have our properties with a property manager at Tweeds Sutherland and they have been very good.As for the drought and water restrictions yes we have pretty stringent restrictions but hopefully these may be alleviated a little with the new pipeline we have.Generally speaking you can get a 6% gross return on properties you buy a rent here ie $210000 house will get you close to $240 p.w.Capital appreciation has certainly been flat for the past 18 months we tend to lag behind Melbourne by about that amount of time in regards to capital appreciation.So hopefully there will be an increase in capital growth in the near future.
Regards Martin
Hi Longroad, I don’t have precise numbers but Bendigo has experienced good population growth over the past few year. About 2000 per annum I think. One thing I see on the upside is the completion of the freeway to Melb. Final stage is now well under way. I was talking to a business consultant the other day who moved to Bendigo from Sydney. Time wise he is now closer to the airport than what he was living in metro Sydney and it will only improve once the road is finished. On the business front the big success story is the Bendigo Bank. This has been great for employment in the town.There was also big hope that mining would return to its glory days but this does not now look likley. Yes water is an issue but I think the impact of the dry conditions on the rural sector in the region is a bigger one.
Hallg
Could you get a decent house there for 150k? Or much under 200k at all?
Something in a relatively good pocket that will have potential for capital growth.I'm now down to either Horsham or Bendigo – tough decision.
your best bet is to do a bit of your own research. Check out prices etc on realestate.com.au for example. You can check going rent prices, selling prices etc.
cheers Jayro
Hi Longroad
I've recently bought an investment in Bendigo, not sure specific stats, however, Bendigo as recently publicised is the largest and fastest growing in land city in Australia, sure it lags behind melbourne in growth yet the intial prices accroding to my own risk levels are appealing. I think its a matter of finding your right products and sharpening exactly what it is you want to do, it seems many developers are building the cheapest units and asking highest prices so the market I believe is flooded and stagnant with this type of deal, this tends to paint a sorry picture, one thing for sure though, having grown up in Bendigo and asking around what people in the mid-range age groups are saying is that Bendigo is hungry for a modern edge.Young professionals from melb are moving to bendigo and it goes that they ar looking for quality inner city apartments and townhouses. And perhaps newer inner city houses. Anyhow I'm investing over there along these lines there is a lot of local competetion keeping the profit margins tight, anyhow have a look, it could be a stepping stone to other regional areas.
Terry
Hi all,
Can anyone advise which are the good and bad suburbs in Bendigo and any undergoing gentrification? I am potentially looking at investing in the area and have conducted my due diligence and wanting some more suburb profile information. If anyone can help that would be awesome.
Cheers,
Dave
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