Bendigo

ww2_nut

ww2_nut

Can anyone please give me some feedback/ info as to the state of the Bendigo market atm?
- Mainly sub markets like California gully, Eaglehawk and the other cheaper suburbs.
- Is the market on the rise? or is it flat or falling in value?
- Do you see these suburbs as good growth suburbs or are there better suburbs I should be targeting?
- What are the better and bad areas in these suburbs?

My strategy is to buy and hold, with the potential to make it our PPOR in the future once the hospital is finished.
Any feedback/ ideas would be greatly appreciated
:)
 
Hi,
As mentioned in previous posts I'm from Bendigo and invest in Bendigo as well. I would give California Gully a miss as well as Eaglehawk. You buy in cheaper areas you will in the most part attract tenants of that calibre. Better to look in better areas. Keep in mind there are good areas and bad areas in any suburb.:)
 
brisbane 04 said:
Hi,
As mentioned in previous posts I'm from Bendigo and invest in Bendigo as well. I would give California Gully a miss as well as Eaglehawk. You buy in cheaper areas you will in the most part attract tenants of that calibre. Better to look in better areas. Keep in mind there are good areas and bad areas in any suburb.:)
Click to expand...

Thanks for your comment. would the property at this address be a good buy?
33 Moray Crescent, North Bendigo
Would North Bendigo be an ok area?
Or should I be looking on the Flora hill side of town? say white hills?
Any feedback/ comments you have would be great. :)
 
ww2_nut said:
Thanks for your comment. would the property at this address be a good buy?
33 Moray Crescent, North Bendigo
Would North Bendigo be an ok area?
Or should I be looking on the Flora hill side of town? say white hills?
Any feedback/ comments you have would be great. :)
Click to expand...

I have no idea on Bendigo so I can't recommend which areas to look at but that property you quoted backs onto a train line so if you're after a buy and hold property for CG then I'd keep looking.
 
jackbak said:
I have no idea on Bendigo so I can't recommend which areas to look at but that property you quoted backs onto a train line so if you're after a buy and hold property for CG then I'd keep looking.
Click to expand...

Thanks for your input. Buy and hold is the game plan :)
 
Hi,
I looked through that property in Moray Crescent it's not to bad but I think it's a little over priced. As for position in my opinion it's a good street. It's close to the new hospital that is being built and I think it will have good capital growth. I like this area so much that I bought 20 Moray crescent a number of months ago. Bought it for $215000 and spent $30000 on rehab. It didnt have a kitchen or a laundry at the time. Currently rented for $260pw. I also bought and rehabbed a property around the corner in Thunder street which I now wish I kept. There are some bad areas in North Bendigo however. Flora Hill is generally a good area, as is Strathdale, Kennington, Spring Gully, Junortoun, areas in White Hills, Golden Square. Wouldn't recommend Kangaroo Flat or Long Gully. If you are in Bendigo at any stage I'd be happy to show you around. Remember there are good and bad areas in every suburb.
 
FWIW I have advised a friend to build in Bendigo and he signed contracts last weekend. $330k 4/2/2, should rent for $370pw, 4kms from the CBD.

I believe the area has good prospects with the $650M Hospital upgrade, it's proximity to Melbourne and it's affordability.
 
Hi Jaspn,
No the return isn't that great I admit and you could probably do better in gross yield. The renovations ran a little over budget. The main reason I bought it was for the capital growth as well as it was a corner block with the potential for subdivision down the track.:D
 
brisbane 04 said:
Hi Jaspn,
No the return isn't that great I admit and you could probably do better in gross yield. The renovations ran a little over budget. The main reason I bought it was for the capital growth as well as it was a corner block with the potential for subdivision down the track.:D
Click to expand...

Ah right. Thanks brisbane, I now see your strategy behind this purchase.
 
brisbane 04 said:
Hi,
I looked through that property in Moray Crescent it's not to bad but I think it's a little over priced. As for position in my opinion it's a good street. It's close to the new hospital that is being built and I think it will have good capital growth. I like this area so much that I bought 20 Moray crescent a number of months ago. Bought it for $215000 and spent $30000 on rehab. It didnt have a kitchen or a laundry at the time. Currently rented for $260pw. I also bought and rehabbed a property around the corner in Thunder street which I now wish I kept. There are some bad areas in North Bendigo however. Flora Hill is generally a good area, as is Strathdale, Kennington, Spring Gully, Junortoun, areas in White Hills, Golden Square. Wouldn't recommend Kangaroo Flat or Long Gully. If you are in Bendigo at any stage I'd be happy to show you around. Remember there are good and bad areas in every suburb.
Click to expand...


HI,
Wouldn't recommend Kangaroo Flat or Long Gully.

Is this still valid?

MI
 
MelbInvester said:
HI,
Wouldn't recommend Kangaroo Flat or Long Gully.

Is this still valid?

MI
Click to expand...

Having spent some in Bendigo I would say Kangaroo Flat is a few rungs above Long Gully. Flat is quite a large suburb and the quality of both housing and tenants varies substantially. Another plus is a strong local commercial centre.
 
Hi All,

Not meaning to hi-jack your thread, however is there anyone here experienced with industrial/commercial zoned land in Bendigo? Area is close to midland highway, epsom.
 
trqx said:
Hi All,

Not meaning to hi-jack your thread, however is there anyone here experienced with industrial/commercial zoned land in Bendigo? Area is close to midland highway, epsom.
Click to expand...

Do your due diligence, depending on which side of the highway I understand that there are some flooding issues to do with the 100yr ARI.

As a general comment, Epsom has a growing commercial area which should get a facelift as the residential suburbs of Epsom/Ascot/Huntly develop and the existing village centre matures.
 
Certainly looks better than the average property and well kept period homes are always going to command a premium price. But the only way to know for sure is compare it to recent sales of similar size and style properties in the area.
 
Hi Mi,
Nice property recently renovated by the looks of it. My only concern is the price. Return of $400 pw is a little on the high side for this property. If you purchase for $395000 you'll have stamp duty of approx $10000. Therefore your property will be negatively geared.:)
 
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