Since European settlement, Bendigo has lived several distinctly different lives, having grown from a modest sheep station to a major regional hub. But through all these incarnations, the city has not forgotten its past or lost its strong sense of history. In fact, Bendigo’s unique ability to blend the old and the new is a big part of the city’s appeal.
Located around 150km north west of Melbourne, Bendigo sits at almost the geographical centre of Victoria. With a population of just over 100,000, it is the state’s fourth largest city and one of the fastest growing regional centres. But this expansion has not cost the city its community feel or country town charm.
Much of modern Bendigo’s grandeur can be traced back to its history as one of Australia’s biggest gold rush boomtowns. This former prosperity can be best seen in the many fine examples of Victorian architecture that dominate the city centre. Originally designed as administrative buildings, many of these impressive structures have found a new purpose as theatres, restaurants, and cafes.
This kind of ingenuity has become synonymous with Bendigo, with a wide range of leading businesses calling the city home. This includes the iconic Bendigo Pottery and Australia’s fifth largest bank, Bendigo Bank, just to name a few.
Bendigo is also well known for its thriving food and wine scene. In 2019, the region was named Australia’s first UNESCO City of Gastronomy in recognition of its many top-class wineries and restaurants. This is complemented by a strong arts sector, with the city also home to multiple theatres and galleries.
But it is Bendigo’s many other amenities that are most responsible for drawing new residents to the city. The area is home to several large, well regarded secondary schools, as well as a campus of La Trobe University. There is also a great selection of local sporting facilities, with cricket, AFL, horse racing, and basketball being particularly popular.
Bendigo also enjoys strong transport links, with several train lines connecting Melbourne and northern Victoria passing through the city. The completion of the Calder Freeway in 2009 further improved commutability to the capital, reducing the drive time to under 2 hours. This is supported by an extensive local bus network and a local airport that has daily flights to Sydney.
Luke and Julian each have over 20 years of property investment experience.
The quality of life on offer in Bendigo has made it an attractive option for those looking to escape the capitals (particularly Melbourne). The pace of life here is slower and there is a clear sense of community. There is also a strong local economy, good employment opportunities, and plenty to keep the whole family busy and entertained.
But the growing interest in relocating to the area is making the local property market much more competitive. Great opportunities are becoming increasingly difficult to find and secure, so you really need to know where to look. This is where working with an experienced buyers agent, like Search Party Property, can help.
The good news is, regardless of your investment strategy, you should be able to find something suitable in Bendigo. Because, while the area is particularly popular with families and first home buyers, there is also a burgeoning unit marketing. All property types have also seen significant capital growth over the last couple of years, thanks to the increased demand.
For maximum capital growth, we recommend targeting properties with renovation potential, in central suburbs like Bendigo and East Bendigo. Alternatively, you could look to the expansion areas of Epsom and Huntly for new development opportunities. And, if rental yields are your focus, more affordable areas like Eaglehawk and Kangaroo Flat tend to deliver stronger returns.
Whether you are new to property investment or just want advice on your next purchase, Search Party Property can help. As professional buyers advocates, we are experts in identifying the best opportunities and securing the best possible deals. We also know how to build high performing portfolios and specialise in supporting investors to achieve their financial goals.
But, to do this, we first need to get to know you, your situation, and what you want to achieve. This allows us to get a better sense of the types of opportunities we should be looking for. It also allows us to begin developing a tailored strategy for you, which will help guide your future investment decisions.
Next, we carry out all the research and analysis for you. Guided by your investment strategy, we will look at population and demographic data to identify key growth areas. We will then assess recent market performance and future development plans in those areas to help further target our search.
Based on this, we will come up with a shortlist of what we believe are the best investment opportunities available. We will provide the details of each of these properties to you, including the returns we expect they will deliver. We will also work with you to choose the option that best fits your plans.
Once you have identified the property you want, we arrange all the necessary reports (pest inspection, building inspection, etc.) for you. And, if everything checks out and you are happy to proceed, we will walk you through submitting your offer.
All going well, the property will be yours and you can focus on getting it set up and producing income. If any updates or repairs are required, we will recommend ways to maximise your return on this investment. We will also work with you to plan your next steps, including the ideal timing for your next investment. At Search Party Property, we want to make investing in property as straightforward and stress-free as possible. Contact us today to find out more about our offering and organise your complimentary investor readiness consultation.