City of Greater BendigoEconomic profile
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City of Greater Bendigo

Housing valuation

At June 2016, City of Greater Bendigo had a median house valuation of $339,017, $183,840 lower than the median house valuation for Victoria.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High housing prices usually indicate access to high-paid jobs and a very desirable area. However they can present issues in attracting and retaining key lower skilled workers. Lower housing prices indicate less demand and may be an asset for attracting people to live in the area. However they can also indicate lower paid and lower skilled jobs or a declining economy.

Housing prices often factor in a home ownership premium due to expected capital growth and the ability to customise the property, but rental costs are a more direct measure of the immediate economic value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2011-2016, Housing Valuation System

Housing values
City of Greater Bendigo20162013Change
Housing value (at June)City of Greater BendigoVictoriaCity of Greater Bendigo relative to VictoriaCity of Greater BendigoVictoriaCity of Greater Bendigo relative to Victoria2013 to 2016
House--------------
First Quartile$280,259$364,026-23.0%$263,191$322,519-18.4%+$17,068
Median$339,017$522,857-35.2%$309,367$424,044-27.0%+$29,650
Third Quartile$413,757$823,718-49.8%$370,004$614,822-39.8%+$43,753
Unit--------------
First Quartile$220,083$339,246-35.1%$206,467$294,921-30.0%+$13,616
Median$247,997$463,503-46.5%$230,198$386,032-40.4%+$17,799
Third Quartile$280,556$591,295-52.6%$262,051$493,165-46.9%+$18,505

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Victoria: $591,295 Median, Victoria: $463,503 First Quartile, Victoria: $339,246 Third Quartile, Victoria: $823,718 Median, Victoria: $522,857 First Quartile, Victoria: $364,026 Third Quartile, City of Greater Bendigo: $280,556 Median, City of Greater Bendigo: $247,997 First Quartile, City of Greater Bendigo: $220,083 Third Quartile, City of Greater Bendigo: $413,757 Median, City of Greater Bendigo: $339,017 First Quartile, City of Greater Bendigo: $280,259
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, Victoria: $98,130 Median, Victoria: $77,471 First Quartile, Victoria: $44,325 Third Quartile, Victoria: $208,896 Median, Victoria: $98,813 First Quartile, Victoria: $41,507 Third Quartile, City of Greater Bendigo: $18,505 Median, City of Greater Bendigo: $17,799 First Quartile, City of Greater Bendigo: $13,616 Third Quartile, City of Greater Bendigo: $43,753 Median, City of Greater Bendigo: $29,650 First Quartile, City of Greater Bendigo: $17,068
Source: Hometrack 2011-2016, Housing Valuation System

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