By Aussie Bendigo Franchisee Principal Daniel Aldridge
The Bendigo region is experiencing a strong increase of activity in the house and apartment market.
According to just released PRD Data research, the house and unit marker has experienced an average annual capital growth of 6.8% and 4.63% respectively during the six months to September 30, 2009.
Sales activity has been strong, with sales growing from 835 to 906 settlements over the six month period, and our research shows the trend is continuing in 2010.
This is great news for families. Bendigo is just an 1-1/2 hour’s drive from Melbourne’s CBD and with the new double highway opening and the affordability of houses compared to Melbourne’s prices, we are seeing the population grow to over 100,000 people. Bendigo is a fantastic area to bring up kids, offering great schools and work potential.
The research also shows a healthy sign for first home buyers simply because of Bendigo’s regional geographical presence and are therefore eligible for the larger regional grants, compared to their metropolitan counterparts. With lower housing costs it can also be a lot easier to save the deposits required by the banks and allow first home owners to enter the market quicker.
Unlike metropolitan areas, Bendigo seems to be steadier and does not seem to have the peaks and troughs that the larger capital cities have. This allows for steady growth and in return property that is affordable.