Bendigo Property Market Update 2nd Half 2025
Bendigo, Victoria, boasts a lively arts and culture scene, featuring celebrated galleries, festivals, and historic architecture. Its friendly community and closeness to nature offer a unique mix of urban convenience and country charm.
Property Trends
In Q2 2025, Bendigo recorded a median house price of $600,000 and a median unit price of $500,000, representing annual (Q2 2024 – Q2 2025) price growth of 6.2% for houses and 14.5% for units. Total sales surged by 48.6% (to 382 sales in Q2 2025) for houses and 30.4% (to 73 sales in Q2 2025) for units, indicating strong market demand that has created a buffer against higher interest rates. This is an ideal opportunity for homeowners to capitalize on their investments, especially with a low number of new housing stock planned in 2025.
Project Development
Bendigo plans to see approx. $454.2M of new projects commencing construction in 2025. A total of 93 dwellings, 30 units, and 29 townhouses are currently planned. Although there are several residential projects on the cards, comparing it with the number of sales in Q2 2025 (382 house sales); it is not enough. There are 780 land lots also planned; however, this will take time to build. Thus, the potential for an undersupply is high, which will continue to push up property prices.
Rental Market & Growth
House rental yields in Bendigo were 3.7% as of June 2025, higher than Bendigo LGA (3.5%) and Melbourne Metro (3.1%). This is paired with a 4.6% growth in median house rental price in the past 12 months to Q2 2025, at $500 per week, along with a -1.2% decline in the number of houses rented (to 484 rentals in Q2 2025). This indicates an undersupplied and competitive house rental market, which is beneficial to investors – especially those looking for a more affordable option to Melbourne Metro.
Vacancy Rates & Property Investment
Bendigo recorded a vacancy rate of 0.9% in June 2025, on par with Bendigo LGA’s 1.0% average but much lower than Melbourne Metro’s 1.8%. Vacancy rates have decreased in the past 12 months, from 1.9% in June 2024, indicating an even tighter rental market. Furthermore, a 0.9% vacancy rate is well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, thus there is quicker occupancy of rental homes in Bendigo. This creates a conducive environment for investors, even with a higher house and unit price (thus entry price) in the past 12 months to Q2 2025.
