VIC Bendigo Suburbs!

Things are hot at the moment...certainly the best in 9-10 years. Everything is selling very fast and vacancy rates are very low. Vacant land is also very sought after.

I would say you'd need to act quickly for good places...virus fallout is a distant memory at the moment.

 

Had a friend try to build a house there a few weeks ago, only one small problem... currently no land available. Bendigo market is very hot atm!

 

This article basically sums up what is happening here in Bendigo.

Geelong, Ballarat and Bendigo hold strong during coronavirus - realestate.com.au

It seems that the virus has the opposite effect of pushing up the Bendigo House market as buyers are realising the benefits of living in a Big regional town now.

To interested buyers, it is not too late to enter into this market. I would say it is at around 8 to 9 o'clock of the property clock and has not peak yet.

 

Good to see you’re more upbeat about Bendigo Xiao

 

My property manager says that rental prices for newly listed properties haven't dropped. But it may take 2-3 weeks to get a new tenant instead of the previous 2-3 days pre covid.

Alot of tenants are presumably staying put in their current place probably becuase their current rent has been decreased a little.

As for property prices, a few do seem to be selling up quick. I think there isn't much new stock coming on. But I think that will change in the coming weeks as people see how strong the market is at the moment.

@Vick B Your firend is looking for land. I saw this land didn't sell a few years ago. It has since been removed from the market and nothing has happened to the block. If you're mate is willing to so some subdivision then perhaps they could try and sniff out the vendor https://www.onthehouse.com.au/prope...-macdougall-rd-golden-square-vic-3555-9839465

 

Hi everyone!
Great thread and I’ve learnt loads about Bendigo (we are on the research for our 2nd IP)
From previous comments, I’m understanding Golden Square and Kangaroo Flat are the best suburbs - what about kennington?
Thanks!

 

Golden Square and Kangaroo Flat are not the best ones, @Flynn Investor The former could be a little bit better than the latter though, simply due to the proximity to the city centre.

Kennington is one of the best suburbs in Bendigo. Drive around all 3 suburbs and you should be able to feel what I mean.

 

@Flynn Investor
I'm not sure what thread you've been reading but Kflat is not one of the better suburbs.

In one of the previous posts I give a rough guide as to what area to look at. It's not a precise. But certainly a good starting point

 

Thanks for the feedback guys! Reading through this thread, I got the vibe Golden Square and Kangaroo flat are good suburbs but obviously not thanks for the tip, we will keep reading through your posts & the map I went to uni in Ballarat so know it well but not sure we want to invest there - Bendigo really has grabbed our attention. So, to sum it up it’s best to stay as close to city centre, hospital area as possible?
Once we get home to Warrnambool again (one day!) we will look to divert through Bendigo to check out suburbs.
Thanks everyone!

 

Thanks for this!

 

If the intention is to buy a property as investment, it is actually okay if you buy in the "lousier" suburbs. This is because their pricing is lower, making it easier for you to buy plus returns are better too, as a result of this lower price point.

Of course, if the intention is to buy and stay in the House yourself, it will be different.

I myself have made more money buying and selling in the lousier suburbs than the good ones.

As I said in the earlier post, Bendigo is now in a sort of a property craze - unseen in the last 8 years or so. Well priced properties are selling in a matter of days. You need to be quick if you want enter into this market.

 

@Flynn Investor

Are you looking as an investor or ppor?

For investing there is a tiny section of Kflat I like

Half or more of Golden Square is actually pretty good.

 

Hey!
Yes for an investment
We aren’t afraid of suburbs with tarnished reps (we own in Charnwood ACT which is considered low-socio economic. However it’s going brilliantly with great rent and tenants and has consistently increased in house price over the last few years) but we don’t want terrible suburbs or areas.
Any info would of tips would be greatly appreciated! Thanks

 

All areas and suburbs have their good areas and bad areas only to happy to dhow you around.

 

Perhaps try to negotiate this house under 400k https://www.realestate.com.au/property-house-vic-strathdale-132992002

 

Nice area

 

There seems to be a few more properties popping up lately. Land on the other hand appears scarce.

The lock down restrictions placed on Melbourne must be making it difficult for some buyers right now.

 

Is anyone else noticing that there isn’t much stock around at the moment? I have been keeping an eye on the sub $400k bracket in quarry hill/kennington/strathdale/flora hill but it seems there is not much going around.

 

Have to agree, keeping an eye online from Melbs and it seems that plenty of properties being listed are already under offer.