Bendigo hailed as VIC's most in-demand regional centre
Properties in Bendigo are in higher demand than any other regional centre in Victoria, new figures ...
Properties in Bendigo are in higher demand than any other regional centre in Victoria, new figures from the Real Estate Institute of Victoria show.
The numbers, published on Saturday (January 21), indicate that the overall median house price across Victoria increased by 0.8 per cent between September and December last year, averaging $312,000.
However, Bendigo - which has a growing population of more than 100,000 residents - recorded a 6.3 per cent rise in median house price, with the average price of a property in the regional centre totalling $294,000.
Bendigo is located only 90 minutes by car from Melbourne and has been deemed a Child Friendly City by UNICEF and UNESCO. It is the state's third-largest urban centre.
The figures recorded for Bendigo compare with a 2.3 per cent fall in Geelong house prices - the median figure here is now $380,000 - and a 3.6 per cent rise in Ballarat, bringing the median house price to $290,000.
According to Raimondo, it is possible that the market could have "bottomed" last year, which means that after a quiet March quarter, further improvements in transaction activity may be recorded.