Property Journal Bendigo | Spring 2026
INSIDE THIS ISSUE
Table of Contents 3
A Word From Our Directors
6
Sales Activity
7
Rental Activity
8
Bendigo Market Update
10
On the Market
12
Sales Article
14
Campaign Highlight
16
Rental Market Update
18
Spring Rental Outlook
20
Our Investor Relationship Manager
21
Marketing With a Purpose
2
DEPARTMENT INSIGHTS
A Word From Our Directors
A Strong Winter Overall, we have had a really strong winter across the business. Our sales team has achieved some great results, while there continues to be plenty of interest from tenants across our rental properties. We have also welcomed plenty of additional new rental listings over this period, which has kept our property management team very busy. Our New Office
Welcoming Spring Winter has been a busy period for PH Property, with strong activity across both sales and property management, our move into the new East Bendigo office, community involvement, the return of a familiar team member and an important milestone coming up later this year. Market Update All things considered, the Bendigo property market is still moving at a pretty good pace from both a sales and property management perspective, regardless of some of the conditions we are seeing in our capital cities. There have been significant changes announced around negative gearing and Capital Gains Tax, including new restrictions for established residential property, as well as changes to how people may be able to borrow through Self Managed Super Funds. So far, these proposed changes have had less of an effect in our region, largely because of Bendigo’s affordability and the continued level of interest we are seeing from investors. Interestingly, we are also seeing much more movement in land sales from both investors and owner occupiers. This has helped add some confidence back into our local building industry, which is a positive sign heading into spring.
After a pretty long six months, we are finally in and humming along in our new office at A5/8-16 Rohs Road, East Bendigo. The space is simply fantastic and has now given us the opportunity to continue expanding our team moving forward. We have plenty of car parking, multiple meeting rooms and a recreational space downstairs, while the natural light throughout the office has made it a great place for our team to work. Our new branding also looks fantastic from Rohs Road and has given PH Property a strong presence in the area. We are all extremely happy with how the new office has come together and are looking forward to working from the space for many years to come. If you are passing by, we invite you to pop in and say hello when you have the chance. Welcoming Samantha Back We are really excited to welcome Samantha Harkins back to PH Property following maternity leave. Sam has been one of our leading salespeople in the past and has returned to the business in a slightly different role as our part time Investor Relationship Manager. 3
In this role, Sam will work alongside Catherine and the rest of our team to help develop and grow our rent roll while continuing to build relationships with investors.
DEPARTMENT INSIGHTS
It is great to have Sam back with PH Property and we are looking forward to seeing her settle into this new role. Supporting Our Community We have been busy over the past few months helping several of our local football and netball clubs with charity auctions and fundraising events. Two of our successful recent auctions were for the Marong Football Netball Club and the Newbridge Football Netball Club. Both clubs did a fantastic job organising their events, with players, contributors and supporters putting together huge lists of goods and services to be auctioned. Both events raised in excess of $30,000 each, which is an amazing effort and a great result for both clubs. Our team was also kept very busy, auctioning more than 140 items across the two events, which were held within weeks of each other. It was great to be involved and to see such strong support from the local community. Helping BARC Naomi from our office has also been spending a lot of time raising money and collecting donations for BARC, a shelter supporting homeless pets while they wait to be adopted. Naomi, along with a small crew from the office, has been helping collect items such as mats, Kongs, treats, puzzles and other supplies to help make the animals’ time at the shelter more comfortable. Our team was lucky enough to meet a couple of the pets during a recent visit, including Lady the cat and Buffy the dog. Thankfully, both have since been adopted. If you would like to donate to BARC or support Naomi’s efforts, please contact her on 0417 297 715. 4
Brad Hinton Director | OIEC
Twenty Years of PH Property
DEPARTMENT INSIGHTS
Most people probably would not believe it, but PH Property turns 20 years old this October. It is hard to believe it has been that long. PH Property started from a little office in Mitchell Street back in 2006, when John Pawsey and Brad Hinton began the business with the help of John’s daughter Jess, and later Brad’s sister Deanne. From those beginnings, PH Property has grown into a dynamic real estate team of seventeen people and we continue to change the shape of real estate in Bendigo. We are incredibly proud of how far the business has come and are looking forward to another twenty years. Today, we have our wonderful director Cat Beecroft in John’s seat, alongside Brad, while our longest serving employee Tim Rooke is in charge of operations and continues to play an important role within the business. Celebrating 20 Years To mark the occasion, we will be holding a 20 year function in October to celebrate this milestone with our staff. It should be a fantastic event and a great opportunity for us to reflect on the past twenty years, the growth of PH Property and all the people who have been part of the journey. There has been plenty of change over the years, but we are just as excited about what lies ahead. With our new office, a growing team and plenty of momentum across both sales and property management, we are looking forward to the next chapter for PH Property.
5
DEPARTMENT INSIGHTS SNAPSHOT
Sales Activity WINTER | JUNE - AUGUST
JUNE | AUGUST
61
PROPERTIES SOLD
Winter has been a strong period for PH Property, with the Bendigo sales market continuing to move at a steady pace and buyer activity remaining consistent across a range of property types. A major highlight was a record July for our agency in terms of sales, marking one of our strongest months to date and reflecting the confidence we continue to see in the local market. We have also seen increased movement in land sales from both investors and owner occupiers, helping build further momentum as we head into spring. Overall, our sales team has achieved some fantastic results throughout winter, with strong enquiry, solid open home attendance and plenty of successful transactions across the season.
58
PROPERTIES LISTED
$633,000 MEDIAN SALE PRICE
170
SOLD LAST 12 MONTHS
6
Our rental team has been humming along for the past three months, delivering some really great growth. We've continued refining our structure and keeping our wonderful property management team busy with plenty on their plate. Rental enquiry has remained strong heading into Spring, though the market is showing some interesting variation across the region. We're seeing a bit of an oversupply of rental homes in
DEPARTMENT INSIGHTS
Rental Activity
Huntly, while demand for heritage homes in Bendigo CBD remains very strong. In fact, one of our central heritage listings leased on its first open, with 20 groups through on the day.
WINTER | JUNE - AUGUST
Our numbers are as follows:
SNAPSHOT JUNE | AUGUST
41
24
$544
1339
131
411
304
122
PROPERTIES LEASED
AVERAGE WEEKLY RENT
INSPECTIONS CONDUCTED
APPLICATIONS PROCESSED
NEW MANAGEMENTS
ENQUIRIES RECEIVED
POTENTIAL TENANTS REGISTERED
LEASE RENEWALS FINALISED
7
MARKET ANALYSIS
Bendigo Market Update
While every property and every buyer is different, there is still plenty of activity in the Bendigo market and genuine buyers are continuing to make a move when they find the right property. The latest figures support much of what we have been seeing on the ground. According to realestate.com.au, the median house price in Bendigo is currently $656,000, based on sales from September 2025 to August 2026. That represents 5.8 per cent growth over the past 12 months. Bendigo Is Holding Its Own
Bendigo Holds Strong Heading Into Spring There has been plenty of discussion recently about changing property conditions around Australia, particularly across some of our major capital cities. Here in Bendigo, however, the market continues to tell a slightly different story. For us at PH Property, winter has been an incredibly strong period. Our sales team has achieved some fantastic results across the season, including recording our highest number of sales ever for a July month.
8
What makes Bendigo’s performance particularly interesting is what is happening elsewhere. The latest PropTrack Home Price Index shows that Melbourne home prices are currently 4.3 per cent lower than they were 12 months ago and sit 5.3 per cent below their recent peak. Regional markets have been considerably more resilient. Across regional Australia, home prices are 6.6 per cent higher than a year ago and remain only 0.5 per cent below their peak. Affordability continues to be an important
MARKET ANALYSIS
part of Bendigo’s appeal. Compared with Melbourne and many other major markets, buyers can still find quality homes at price points that are achievable for a much broader section of the market.
It is an encouraging sign, particularly as we head into spring, and hopefully one that creates further confidence within Bendigo’s building and development industries. Looking Towards Spring
That continues to attract families, first home buyers, investors and people making the move from metropolitan areas. Strong Market Activity From what we are seeing at PH Property, the $600,000 to $800,000 price range has been performing particularly well. This also sits right around the heart of the Bendigo market. The Real Estate Institute of Victoria currently places Bendigo’s quarterly median house sale price at $678,000, compared with $667,000 across regional Victoria. Homes within this range can appeal to a wide variety of buyers, which helps create healthy competition when a well presented and realistically priced property comes to market.
There are still plenty of factors influencing property decisions, including interest rates, borrowing capacity and cost of living pressures. Even with those challenges, Bendigo continues to hold its own. After a strong winter, our best July sales result on record, continued activity through the $600,000 to $800,000 market and renewed interest in land, there are plenty of positive signs as Bendigo heads into spring.
Tim Rooke Sales & Operations Manager
Buyers are still taking their time and doing their research, so pricing, presentation and marketing remain incredibly important. However, when everything comes together, we are seeing people prepared to act. Properties are also moving at a healthy pace. REIV data shows that houses in Bendigo currently have a median of 42 days on market, compared with 51 days across regional Victoria. Land Is Starting to Move Again Another encouraging change we have noticed has been increased activity around vacant land. After a period where rising building costs and broader uncertainty made some buyers more cautious about building, we are beginning to see greater movement from both owner occupiers and investors.
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PROPERTY HIGHLIGHTS
On the Market CLICK THE IMAGES TO VIEW THE FULL LISTING
Click Here
12 Bronwyn Court Spring Gully
Price $899,000 - $950,000
4 2 2 10
Elevated Family Living With Exceptional Design and Space.
PROPERTY HIGHLIGHTS
11
MARKET ANALYSIS
Property Investment Is Changing
Capital Gains Tax Is Changing Too Another significant reform involves Capital Gains Tax. Currently, eligible individuals who have owned an investment for more than 12 months can generally receive a 50 per cent discount on the capital gain used to calculate their taxable income. From 1 July 2027, the Government will replace that arrangement with an inflation based system and introduce a minimum tax rate of 30 per cent on applicable real capital gains.
Australia’s property market is heading into a period of significant change, with new rules around negative gearing and Capital Gains Tax set to alter the way some investors approach residential property. Announced as part of the 2026 Federal Budget, the reforms have already become a major talking point across the real estate industry. While the changes will not fully take effect until 1 July 2027, buyers, investors and property professionals are already considering what they could mean for future investment decisions. What Is Changing With Negative Gearing? From 1 July 2027, negative gearing benefits for residential property will generally be limited to eligible new builds. For properties purchased before 7:30pm on 12 May 2026, the existing negative gearing arrangements will remain in place while that property continues to be held. Investors purchasing established residential property after that date will face different rules from the 2027 to 2028 financial year. Rental losses will still be able to offset income from residential property, including rental income and residential property capital gains, and unused losses can be carried forward to future years. However, those losses will no longer be able to reduce unrelated taxable income such as salary and wages. 12
Importantly, the changes are prospective. The new treatment applies to gains accruing after 1 July 2027 rather than rewriting the tax treatment of gains that occurred before that date. Different arrangements will also be available for eligible new builds, where investors will be able to choose between the existing 50 per cent CGT discount and the new system. Could Buyer Behaviour Change? While the full effect will take time to become clear, there are already signs that some investors are reassessing their property strategies. The latest realestate.com.au Home Price Index notes that investor search activity has fallen since the Federal Budget, while investor borrowing has also begun to pull back. At the same time, Australian home prices have now declined for five consecutive months. National prices fell 0.2 per cent in August and are currently 2.7 per cent below their March 2026 peak, although they remain 1.8 per cent higher than a year ago. Higher interest rates remain the biggest influence on the current slowdown, but changing tax arrangements are adding another consideration for investors. One potential outcome is less investor competition for some established homes, which could provide opportunities for owner occupiers
and first home buyers.
MARKET ANALYSIS
On the other hand, industry groups have raised concerns about the possibility of reduced investment and the flow on effect this could have on housing supply. The Federal Government says directing negative gearing towards new construction is designed to encourage investment into additional housing supply. The Real Estate Institute of Australia and Property Council of Australia have argued that reduced investor confidence could have the opposite effect and make delivering new housing more difficult. What Does It Mean for Property Owners? For most existing homeowners, there is no immediate change to the way they own or sell their principal place of residence. For property investors and those considering their next purchase, however, the type of property being purchased could become increasingly important. Established homes, new builds, rental returns, capital growth potential and the tax position of an investment will all need to be considered carefully. Australia’s property market has always been influenced by interest rates, supply and demand, population growth and affordability. Over the next few years, taxation policy will become another important part of that equation. As the new rules move closer to their July 2027 commencement date, we are likely to see buyers and investors continue to adjust their strategies and consider where the opportunities lie in a changing property market.
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CAMPAIGN HIGHLIGHT
Sold Within a Week CLICK THE IMAGES TO VIEW THE FULL LISTING
Click Here
111 O’Briens Lane Longlea
Sold For $1,425,000
4 2 5 14
Retreat to the Quintessential Country Lifestyle.
CAMPAIGN HIGHLIGHT
We recently had the pleasure of marketing and
The result followed quickly, with the property
selling 111 O’Briens Lane, Longlea, a beautiful lifestyle property set across approximately 20 picturesque acres and backing onto Axe Creek. Lifestyle properties continue to attract plenty of attention across the Bendigo region, and this campaign was a great example of just how active that section of the market currently is.
selling within just one week of hitting the market.
With a strong marketing campaign behind the property, 111 O’Briens Lane generated significant interest from the moment it launched. Our digital marketing alone achieved a reach of approximately 135,000 people on Facebook, helping put the property in front of a wide audience of potential buyers.
It was a fantastic outcome for our vendors and another encouraging result for the lifestyle property market. We have seen some excellent activity in this space recently, with buyers continuing to show strong interest in properties offering more land, privacy and room to enjoy a regional lifestyle. A great campaign, a beautiful property and an excellent result for everyone involved.
15
MARKET ANALYSIS
Rental Market Update
What Investors Want to Know For anyone assessing Bendigo as an investment destination, a few themes keep coming up: Supply is genuinely constrained. New dwelling completions, houses, units and townhouses combined, are running well short of the number of properties being sold or leased each quarter. With a significant pipeline of new development planned but slow to land, most forecasters expect the undersupply to persist in the short
Bendigo Rental Market Update Bendigo's rental market has been one of the standout stories in regional Victoria this year, and if you're an investor weighing up whether the city still has legs, the numbers say it's worth a serious look. Here's what's happening on the ground, what investors are asking, and what the latest tenancy law changes mean for anyone holding, or considering a rental property in the region.
term, which tends to support both rents and prices. Yields are attractive relative to Melbourne, but capital growth is more measured. Bendigo isn't a boom market in the way some regional centres have been in past cycles. House prices have been growing steadily rather than spectacularly, generally in the low single digits over the past year. Investors chasing yield and rental demand are being rewarded; those chasing rapid capital growth may need to be more selective about suburb and property type.
Where the Market Sits Right Now Bendigo remains a genuinely tight rental market. Vacancy rates have been sitting well below the 2–3% level generally considered "balanced," with recent local figures putting the rate anywhere from around 1.1% to 1.8% depending on the data source and time of year. That's tighter than it was even twelve months ago, with one local report has vacancy slipping from 1.6% in mid-2025 down to roughly 1.1% more recently, alongside a sharp drop in the number of rental listings coming onto the market (down around a quarter on the same time last year, and well below the five-year average). At the same time, rents have kept climbing. Median house rents across Bendigo are now sitting somewhere in the $460–$540 per week range depending on which suburb and data set you're looking at, with growth of roughly 5% over the past year. Rental yields for houses are generally being quoted in the high-3% to high4% range, comfortably above both the broader Greater Bendigo average and well ahead of Melbourne metro yields, a gap that's been a big part of Bendigo's appeal for investors priced out of the capital. 16
Some investors are stepping back, which may be creating opportunity. There's been a noticeable trend of investors exiting the Bendigo market over the past year or two, likely a combination of rising compliance costs, land tax changes at a state level, and general caution about regional property. Locally, this is being framed as good news for those who stay: fewer competing rental providers in a tightening market can mean stronger rental returns and better tenant demand for the properties that remain. Days on market and stock levels matter as much as headline prices. With inventory sitting at just a few weeks' worth of stock in some segments, well-located properties are moving relatively quickly, and buyers need to be prepared to act. Legislative Changes to Be Aware Of Victoria's rental reform agenda has continued rolling out through 2026, and rental providers with Bendigo properties are subject to the same statewide rules as everywhere else in Victoria. Key changes investors should have on their radar include:
Minimum standards now apply before a property is even advertised, not just before a tenant moves in, meaning compliance checks need to happen earlier in the process.
MARKET ANALYSIS
Further changes are landing from 13 October 2026, including stronger evidence requirements for bond claims, record-keeping obligations around minimum standards compliance, and two-yearly gas and electrical safety checks. Looking further ahead, new minimum energy-
Catherine Beecroft Director | Rental Department Manager
efficiency standards begin phasing in from 1 March 2027, eventually requiring efficient electric heating, hot water and cooling systems in rental properties by 2030. The practical takeaway: compliance costs and administrative obligations for rental providers are rising across the board in Victoria, not just in Bendigo. Investors should be budgeting for this and working with a property manager who's across the detail. Is Bendigo Still an Investor Hotspot? On balance, yes, with some nuance. The fundamentals that have made Bendigo attractive for years are still intact: strong population growth, a diversified regional economy, proximity to Melbourne, and a housing market that's noticeably more affordable than the capital while offering meaningfully higher rental yields. The current combination of low vacancy, rising rents and constrained new supply is, on paper, a favourable environment for rental providers.
17
MARKET ANALYSIS
Spring Rental Outlook Spring is one of the busiest times of year in the rental calendar, and this year Bendigo investors are entering the season in a particularly strong position. As gardens come back to life and the winter chill begins to lift, spring is a great opportunity to take stock of your investment property, address any maintenance concerns and make sure it is well positioned for the months ahead. The Bendigo Rental Market Right Now Bendigo continues to experience one of the tightest rental markets in regional Victoria. Vacancy rates have remained well below 2 per cent, with recent local reporting placing them between approximately 1.1 per cent and 1.8 per cent. These figures point to continued undersupply and strong demand from renters across the region. Median house rents throughout the Bendigo area are currently sitting at approximately $460 to $540 per week, with rents increasing by around 5 per cent over the past 12 months. Rental yields for houses are also sitting at approximately 3.5 per cent to 4.8 per cent, remaining comfortably ahead of many Melbourne metropolitan areas.
Presentation can have a significant influence on how a property is perceived, particularly when new photography, leasing campaigns or routine inspections are approaching. Simple improvements such as mowing lawns, pruning overgrown gardens, adding fresh mulch and tidying outdoor areas can make an immediate difference to the overall appearance of the property. It is also worth checking for any damage or wear that may have developed over winter. Gutters, downpipes, roofing, drainage and external areas can all be affected by prolonged rain and colder conditions. Addressing smaller maintenance issues early can often help prevent more expensive repairs later and provides a better experience for your renters. With vacancy rates remaining low, there can naturally be a temptation to maximise rental increases whenever a review becomes available. However, a good and reliable renter also carries significant value. Retaining someone who looks after the property, pays rent consistently and communicates well can often provide greater long term value than continually aiming for the highest possible weekly rent. A fair and considered rent review, combined with prompt attention to maintenance and good communication, can help create a stronger relationship between rental providers and renters. Finding the right balance between current market conditions and tenant retention can ultimately lead to greater stability, fewer vacancy periods and a better performing investment over time.
For investors, the message remains positive. Rental demand continues to be strong, while the number of available properties remains limited. Well presented and appropriately priced homes are attracting strong interest and, in many cases, leasing quickly.
Looking Ahead The Bendigo rental market continues to provide positive conditions for property investors, with strong renter demand, limited supply and healthy rental returns.
Preparing Your Property for Spring Spring is an ideal time to give your investment property some attention following the colder and wetter winter months. 18
Spring provides an ideal opportunity to review your property, take care of any outstanding maintenance and ensure your investment is ready to make the most of the busy season ahead.
MARKET ANALYSIS
19
OFFICE UPDATE
Welcome Back Samantha
We are very excited to welcome Samantha Harkins back to the PH Property team in her new role as Investor Relationship Manager. Samantha is already a familiar face to many of our clients, having previously worked with us as a sales agent before taking time away on maternity leave. She now returns in a new position that suits her strengths perfectly, with her natural ability to communicate, build trust and form lasting relationships translating seamlessly into the Investor Relationship Manager role. As our Investor Relationship Manager, Samantha will work closely with both new and existing rental providers, helping them navigate their investment journey and ensuring they feel supported from the very beginning. Her role is centred around building relationships, understanding each investor’s goals and being a reliable point of contact throughout the process. She will also work closely with our property management team to help provide a smooth transition for new clients and make sure our investors continue to receive the level of service and communication they expect from PH Property. Born and raised in Bendigo, Central Victoria has always been home for Samantha. With strong family ties to the local real estate industry, she developed an interest in property from an early age and quickly progressed once she began her own career in real estate. Samantha recognises the trust clients place in their agent and prides herself on providing quality service, clear communication and a personal approach. 20
She understands that property can sometimes feel overwhelming, so her focus has always been on making the experience as straightforward and stress free as possible while working towards the best outcome for her clients. Outside of work, Samantha loves spending time with her daughter Lexi, son Sonny and partner Chris. She enjoys getting out for a run, fitting in a gym session when she can and escaping with the family to the beach, the river or Bali. Samantha will initially be working with us two days a week on Tuesdays and Fridays, gradually increasing her hours as she transitions back towards a full time role. We are thrilled to have Samantha back at PH Property and look forward to seeing her bring her experience, energy and relationship focused approach to this exciting new chapter.
MARKETING ANALYSIS
Marketing With a Purpose A website built to work We rebuilt phproperty.com.au from the ground up. The new PH Property brand is now live across every page, with each part of the business given its own colour so buyers, sellers, rental providers and tenants land in the right place straight away. Every page was rebuilt around a single question: what is this page here to do? Our appraisal pages now ask about your situation first and adapt to you. The contact page routes you to the right person instead of dropping you into a form. The old testimonials carousel is now a set of real client stories, told properly.
the other for $1,425,000 and both sold within a week. Lifestyle homes are exactly where this approach earns its keep. You are not selling square metres, you are selling a way of living and a well told video reaches the person who wants that life long before they would have found the listing any other way. Where this is heading The website and the videos are the same idea in two forms. Show people something real, tell the story honestly and give them a reason to care before you ask them for anything. That is the direction PH Property is heading. More client stories, more video, more genuinely useful content and a marketing approach we would be proud to show you even if you were never going to sell.
Jackson Evans Media & Marketing Manager
The idea behind all of it is simple. Be useful first, then invite the conversation. Video that makes people feel something The bigger shift has been in our listing videos. Most real estate videos walk you through a house. A good property video should make you feel what it would be like to live there, so we shoot for the light, the seasons, the view from the deck at the end of the day and the reason the owners fell for the place in the first place. Every video is tied to the listing it belongs to and every one is built around a story rather than a feature list. It is not our place to rate our own work, so we will let other people do it. The feedback we have had from vendors, from buyers and from people around Bendigo who have no connection to the sale at all has been genuinely humbling. What matters more is what it does for our vendors. Recently we took two lifestyle properties to market, one for $2,500,000 and 21
A5/8-16 Rohs Road, East Bendigo www.phproperty.com.au 03 5454 1999