New development projects and what they mean for the area

Multiple residential projects underway in central Bendigo will add new rental stock to the market over the coming 18 months.

The timing coincides with continued demand from remote workers and Melbourne commuters who have settled in the region since the pandemic years. Local agents report steady enquiries for properties close to transport links and the city centre, where new units could ease pressure on existing stock in suburbs such as Flora Hill and Strathdale.

One project near the Bendigo Railway Station precinct includes a mix of one- and two-bedroom apartments aimed at commuters, while another cluster of townhouses is rising along streets bordering the La Trobe University Bendigo campus. Both sites sit within easy reach of the Bendigo Art Gallery and the cultural programs it hosts, which continue to draw residents who value access to events and galleries.

Effects on Flora Hill and Strathdale

Flora Hill has long attracted families and professionals because of its proximity to schools and green space, while Strathdale offers larger blocks that appeal to those seeking more room. The new builds are expected to compete directly with established rentals in these pockets, particularly for tenants who previously faced limited choices close to the city.

Recent data from the Australian Bureau of Statistics shows the Victorian median dwelling price at approximately $490,000, a benchmark that has kept investor interest alive in regional centres like Bendigo. Agents note that any increase in rental listings from the new projects could moderate weekly rents in the short term, though demand from interstate arrivals remains firm.

Next steps for renters and landlords

Tenants looking to secure a lease should register with agents active in Flora Hill and Strathdale now, before the first completed units reach the market. Landlords with older stock may consider modest upgrades to kitchens or outdoor areas to stay competitive once the new developments open.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.