I remember 2 to 3 years ago, Bendigo was highly regarded as a good place to invest in properties, not just in Victoria, but on national scale.
Fast forward now, prices of properties here have continued to increase but it seems that investors are less optimistic about this city. It takes longer to sell a house now. Vacancy rate of houses has increased till 3.5% Or more?? I have a house there and after 2 rounds of rent reduction and two months of marketing, it is still empty. I talked to a builder friend recently and he mentioned that he stopped building new houses because "it can't sell". He has become a renovator since. Indeed, looking at the huge supply (thousands) of new houses in eaglehawk, Epsom and maiden gully, one can't help but feel it will take a long time for this city to absorb all these new supply of houses.
People have been raving about the impact of the new hospital. But will it really make Bendigo "boom"?
I am a bit skeptical, yet I like this little city. I have several properties here and I hope to still buy a few more properties here down the road. But it does saddens me that this city is losing its shine...
Fast forward now, prices of properties here have continued to increase but it seems that investors are less optimistic about this city. It takes longer to sell a house now. Vacancy rate of houses has increased till 3.5% Or more?? I have a house there and after 2 rounds of rent reduction and two months of marketing, it is still empty. I talked to a builder friend recently and he mentioned that he stopped building new houses because "it can't sell". He has become a renovator since. Indeed, looking at the huge supply (thousands) of new houses in eaglehawk, Epsom and maiden gully, one can't help but feel it will take a long time for this city to absorb all these new supply of houses.
People have been raving about the impact of the new hospital. But will it really make Bendigo "boom"?
I am a bit skeptical, yet I like this little city. I have several properties here and I hope to still buy a few more properties here down the road. But it does saddens me that this city is losing its shine...