Bendigo Property Market: What Price Data and Auction Results Are Signalling

The latest property sales data from Bendigo shows that the median house price has dipped to around $470,000, a 4.1% decrease from the same period last year, according to recent sales records.

This decline is significant, particularly for sellers who have been holding out for higher prices, as it indicates a shift in the market. With more remote workers and Melbourne commuters looking to Bendigo as an alternative, the city's property market has experienced a surge in interest. However, the current market conditions suggest that buyers are becoming more cautious, and sellers need to adjust their expectations. The city's reputation as an arts and culture hub, with venues like the Bendigo Art Gallery and the Capital Theatre, continues to attract new residents, but the market is no longer as buoyant as it was 12-18 months ago.

In areas like Flora Hill and Strathdale, which have traditionally been popular with families and first-home buyers, prices have held up relatively well. For example, a four-bedroom house on Ellis Street in Flora Hill recently sold for $618,000, while a three-bedroom unit on Napier Street in Strathdale sold for $435,000. The local real estate agents, such as Bendigo Real Estate and DCK Real Estate, are reporting a steady stream of inquiries from buyers looking for value in the market. The City of Greater Bendigo's initiatives, such as the Bendigo Housing Strategy, aim to address the demand for affordable housing and support the local property market.

Drilling Down into the Data

A closer look at the sales data reveals that the average days on market for properties in Bendigo has increased to 42 days, up from 32 days in the same period last year. This suggests that sellers need to be more realistic about their pricing, and be prepared to negotiate. According to data from the Real Estate Institute of Victoria, the clearance rate for auctions in Bendigo has also decreased, with only 55% of properties selling under the hammer in June, compared to 65% in June last year. On a specific date, 20 June 2026, a property on High Street in Kangaroo Flat sold for $380,000, highlighting the variability in prices across different suburbs.

So, what does this mean for buyers and sellers in the Bendigo property market? For sellers, it's essential to get the pricing right, and be prepared to negotiate. For buyers, it's a good time to take a closer look at the market, as there are some good value buys available. The local market is expected to continue to evolve, with the City of Greater Bendigo's plans to revitalise the CBD and support local businesses likely to have a positive impact on the property market. As the market continues to shift, it's crucial for buyers and sellers to stay informed and work with local real estate agents who have a deep understanding of the market conditions.