Bendigo Real Estate

Bendigo real estate is increasingly popular with a train journey to Melbourne taking as little as 1hr and 24 mins. By road the journey is 149 kms. It is increasingly a favourable option as residential property prices in Melbourne become less attainable.

Bendigo is a major regional centre in Victoria Australia which takes in the towns and rural areas of the Loddon region. Historically a manufacturing region the rural city has grown to a population of approximately 97,000 with strong real estate, health, education, and retail sectors.

Bendigo real estate remains affordable when compared to other Victorian centres with a median house price of $225,000. The 12 month trend to January 2008 showed an 11.6% increase in prices, 43% Auction clearance rate and average 93 days on the market for private sales.

While the capital growth in Bendigo Real Estate is still favourable, figures from the Valuer General Victoria would indicate it to have slowed in recent years. Those figures show median house prices in 2002 at $147,000 (2262 sales); 2003 at $180,000 (2140 sales); 2004 at $198,000 (2008 sales); 2005 at $207,000 (1915 sales) and in 2006 at $213,500 (700 sales). Buyers should be aware that these prices are median prices only. Bendigo properties currently range in price from around $50,000 for a small development block to upwards of $1,000,000 for some of the more sought after and grand historic properties.

Bendigo Rental prices begin around $160 per week for a three bedroom house up to $500 for some of the commercial rentals listed and available in January 2008.

There are number of Bendigo Real Estate agents who deal in residential, commercial, businesses, rentals and vacant land sales. The Bendigo Real Estate Agents are all located within the City of Greater Bendigo which takes in the suburbs and districts within the Greater Bendigo region and surrounds.

Property vendors may also choose to sell their property privately without the using an agent. There are advantages and disadvantages to this approach which the vendor should consider. If considering selling your property privately these are some of the factors you will need to consider

1. Research the market and price your property accordingly

2. Consider your marketing strategy and costs, for example place an ad on the Bendigo website

3. Ensure your property is well presented during the sale period

4. Consider small ads in newspapers including at least one web page your property is listed on with images

5. Contact a solicitor or conveyancer to prepare the legal transfer documents

6. Provide an information sheet for potential buyers which details your properties features, land dimensions, council rates, water rates and other relevant information.