Having the new $5bn dollar Regional Link recently completed Bendigo is easily accessible as is Melbourne from Bendigo and on the back of improving economic prospects Bendigo is attracting a significant population growth.
The $630m redevelopment of the Bendigo hospital plus the $1.3bn Defence contract to a Bendigo based business will further provide positive impact to the local economy and employment market.
Housing remains affordable and a rise in population is placing upward pressure on the supply of new dwellings to own or rent with a drop in vacancy rates and a rise in rental yields to the advantage of investors who are enjoying a steady capital appreciation on their investments.
According to the ABS, the greater Bendigo region currently has a total population of 116,315 and planning will ensure a continued and managed population growth
Bendigo has seen a median house sales price of growth of 5.4% annually and currently sits at $388k and on the back of strong government and industry investment into Bendigo further population growth will continue to place upward pressure on both supply and pricing of dwellings
Bendigo continues a steady long-term price growth in its housing market whilst remaining very affordable, with solid rental yields available for investors (most suburbs have median yields between 4.5 and 5.5 percent)
Bendigo also enjoys a low vacancy rate of 2.2% which remains below the national value and with increasing demand for rental properties this figure should drop and rental yields could increase further
Bendigo has long been one of Victoria’s key regional centers, with growth thanks to its steady local economy, proximity to Melbourne and good transport links to the capital. With further growth expected on the back of the brand new $5 billion Regional Rail Link having just been completed providing enhanced and efficient rail links regionally from Bendigo and also into Melbourne.
Bendigo’s economic prospects continue to improve with Bendigo contributing $8.96 Billion towards the Gross Regional Product. Bendigo’s $630 million re-development of Bendigo’s world class regional hospital, private sector plans to develop the city’s first master-planned residential community, and with the $1.3 billion Defence contract being awarded to a Bendigo-based business further stimulating the local economy and also creating new jobs
Bendigo benefits economically from a number of major companies which are based locally but perform nationally such as Thales, the company that received the Defence contract recently.
52.7% of Bendigo Residents work full time, a number projected to grow as new jobs continue to be created by both government and industry investment. Further to this 35.5% of the residents work part time and only 6% are unemployed. Major industries for employment are the Health Care and Social Assistance employing 18%, Retail Trade 12%, Construction 9% and Education and Training 9%
Bendigo is fast becoming a sought after location being only 153km from Melbourne, on the Regional Railway Line and offers residents employment, lifestyle and affordable living
Investors continue to identify the investment potential Bendigo has to offer where one could secure a brand new home on a decent size block for less than an inner Melbourne suburb 1 bed apartment. With 83.4% of Bendigo’s residents living in detached housing, new homes are in demand to satisfy the renewed population growth. Bendigo has all the fundamentals required to present as a worthwhile investment for investors looking for capital growth potential + healthy rental yields
Bendigo offers a wide cross section of education from early learning centers through to higher learning facilities with the Education and Training Sectors being one of Bendigo’s three largest industries valued at over $479m per annum. To name a few would include Bendigo Kagan Institute / TAFE, Bendigo Senior Secondary College, Bendigo Special Development School, Girton Grammar School, Kalianna School, La Trobe University, Marist Bendigo College, Monash Rural Health