VIC Bendigo Suburbs!

Hey Team,

We have been searching quite heavily throughout the Bendigo area to find our next IP, however my lack of local knowledge isn't helping! Is there anyone out there who could shed some light on the 'good/bad' areas?

Most of our searching has revolved around Golden Square, however we have found a property we like the look of in White Hills, but wondering why its still on the market!!

Thanks in Advance!!

 

I tried to buy 3 properties in Bendigo recently. All existing houses in close proximity to the town. None is on market for more than a week. One of them even has a few bidders competing with one another that drove up the price.

Properties are really flying off the shelves now. I ended up not able to get any of them.

Bendigo is becoming a hot market. I was told by local agents that they have never seen anything like this the last 6 to 7 years. I think the next 3 months is the last window to buy affordable good properties in this big regional town.

 

Ballarat is a very similar situation. Money moving out of Melbourne

 

I know Bendigo pretty well and the suburbs please message me with streets and houses you are interested in and I’ll try to help you. Cheers


QUOTE="ArchChris, post: 751806, member: 21858"]Hey Team,

We have been searching quite heavily throughout the Bendigo area to find our next IP, however my lack of local knowledge isn't helping! Is there anyone out there who could shed some light on the 'good/bad' areas?

Most of our searching has revolved around Golden Square, however we have found a property we like the look of in White Hills, but wondering why its still on the market!!

Thanks in Advance!![/QUOTE]

 

What are your thoughts about Honeysuckle street in Ironbark (3550)?

 

Great street.

Here's my very rough advice. Get a map and start at St John of God Hospital. Draw a line accross the Main Hospital, then draw line to Lake Weroona. Then draw line to Strathdale Park, then onto University, then to the Cemetery and finally returning back to St John of God.

Roughly within that region are the better locations

 

Honeysuckle Street is ok which property?

 

Yep, stick to these areas and you'll be laughing. If the budget doesn't allow, don't stray too far from this zone.

Things are feeling pretty positive on the ground at the moment....immediately family currently have 8 properties in Bendigo, so it's about time!

 

We are looking to buy an investment property in Eaglehawk Suburb in Bendigo, is it good suburb to invest?

 

No, I would avoid Eaglehawk generally. Lower socio-economic area. Not a lot of OO activity relative to other areas. Only positive out there is yield.

I would stick roughly to what Bendigus said, perhaps extending it as northwest as Bannister Street at most.

 

I would steer clear of Eaglehawk

 

67 honeysuckle st

 

It is a ripple effect. The sequence of the cities that boom is Melbourne, Geelong, Ballarat and now Bendigo...

 

Nice spot for buy and hold, but maybe a bit hilly for subdivision

 

Bendigo region's property values enjoy 12 month increase

I think news like above are positive impetus for the Bendigo market to continue growing for 2020!

 

What are people's feelings on Golden Square and Kangraoo Flat? Looking it as a PPOR. Actually torn between Ballarat or Bendigo

 

I think these are 2 pretty good suburbs. Kangaroo Flat doesn't has a really good name in the past but has improved significantly the last 2 to 3 years. It also has the added advantage of being near to Melbourne. Also it has a huge shopping centre and all amenities one would expect in a mid sized city.

Golden Square is slightly better in name. Closer to the CBD of Bendigo but with less amenities as a surburb.

Both surburbs are good bets for growth I would say.

 

In general Golden Square is much better than Kangaroo Flat.

Having said that, Kangaroo Flat is a very big suburb and I think the area near the Indoor Swimming and towards the CBD is pretty good too.

But I really would be cautious buying much further out than the swimming pool

 

For PPOR, Golden Square would be my pick! The closer to the city centre, the better growth prospect.

Areas surrounding Woolies Golden Square are quite nice for a PPOR. I would happily live around that area, especially if you are looking beyond Central Bendigo area, but would love being close enough to the Cathedral and Lake Weeroona.

 

Anyone got any updated thoughts on Bendigo? I've been following the market closely for the last 9 months and there seems to be no negative impact due to recent events. There appears to be a lack of properties coming on to the market and those that do sell very quickly with multiple bidders. I'm after something in the desired suburbs surrounding the CBD in the 400k - 500k range.