We have been asked about the Bendigo Property Market and the impact that Covid-19 will have in the short to medium term.
Our response to clients is that the fundamentals of property in Bendigo remain very sound. The market has been a positive and steady trending investment class over a long period of time and we expect this to continue.
These are uncertain times but we believe some comfort can be provided with some historical data from previous economic uncertainty. This trend and view has been particularly evident immediately following the last four key economic events and major share market disruptions in Australia. The property market has been seen as a longer term and stable asset against a more liquid, short term and often volatile share market.
Our outlook for the Greater Bendigo Region is for a short term slow in activity with the potential for days on market to extend. With historically low interest rates, the affordability in our region compared to the capital city’s and a steady median house price rise over the last decade to an average of $357K (Source:RP Data Pty Limited) across the region, we believe the broad demand for property will return once the effect of Covid-19 start to reduce.
We understand that there is uncertainty in our market that we are all experiencing together. We are here to help you navigate through these uncertain times with some well thought out strategies. Our working conditions have changed but our availability hasn't so please don’t hesitate to reach out and speak with one of our professional sales consultants.
Disclaimer: The information provided is general information only and is not to be interpreted as advice. McKean McGregor do not provide property investment advice in any capacity to clients. Any information prepared is for general information purposes only and has been prepared without taking into account personal objectives, financial situation or needs. Before acting on any information you should consider the appropriateness of the information, having regard to your own objectives, financial situation and needs.