Bendigo Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q4 2024, Bendigo* recorded a median house price of $580,000 and a median unit price of $418,500. This represents an annual (Q4 2023 - Q4 2024) price growth of 1.8% for houses and a slight softening of -2.7% for units. Comparing Q4 2023 and Q4 2024, total sales surged by 52.0% (to 389 sales in Q4 2024) for houses and 79.6% (to 97 sales in Q4 2024) for units. Combined, this indicates strong market demand; which created a buffer against higher interest rates – especially for houses. Specifically, with the knowledge of less houses available in the market, buyers have focused on securing a property. The current dip in the unit prices is an ideal opportunity for first home buyers to enter the market.
CHANGE FROM LAST
YEAR
Bendigo£ plans to see approximately $819.5M of new projects commencing construction in 2025. Residential
$91.1M
HALF YEAR
Mixed-Use
Commercial
$126.2M
$315.6M
HOUSE SALE S Infrastructure
HOUSE ME DIAN PRICE
$243.7M
HOUSE RE NTAL PRICE
Industrial
$43.0M
A main commercial project in 2025 is the Axedale Solar Farm, which will construct a 180MW solar farm. This will supply supply clean renewable energy to 55,000 homes via the Victoria’s grid. Combined with other commercial, industrial, and major infrastructure builds this will make Bendigo an attractive place to live.
UNIT SALE S UNIT ME DIAN PRICE UNIT RE NTAL PRICE
$
Key residential projects include: •
9, 31 & Walmer Street, Mccleans Road & Mannes Lane Residential (257 Lots + 6 Dwellings)
•
Marnie Place (34 Dwellings)
MARKET CONDITIONS MEDIAN PRICE Q4 2024
$580K
$418K
MEDIAN PRICE Q4 2024
$478
SALES
AVERAGE DAYS ON MARKET Q4 2024
57
71
HOUSE
U N I T
RENTALS
$432
A total of 128 dwellings, 35 units and 26 townhouses. 974 land lots are also on the cards, however this will require time for construction before entering the market. Overall, this will allow for more first home buyer to transact.
AVERAGE DAYS ON MARKET Q4 2024
23
16
HOUSE
U N I T
35 Units/ Apartments
26 Townhouses
128 Dwellings
974 Lots