Bendigo new home build numbers at an all-time high
It’s looking to be a record-breaking year for Bendigo’s building industry. The HIA–CoreLogic Residential Land Report shows land sales have jumped 241 percent in Bendigo from September 2019 to September 2020. Land value in Bendigo also increased and is projected to keep rising through 2021.
Lansell Homes sales manager Joanne Grae says the HomeBuilder grant has driven construction in regional markets.
In June 2020, the federal government introduced a $25,000 HomeBuilder grant available to construct house and land valued at less than $750,000, with the grant since reduced to $15,000. The $20,000 First Home Owner Grant remains available to regional Victorians.
“Our sales have been at unprecedented highs since the government introduced the grants. We sold out of every house and land package we had on offer, and our construction start dates are booked solid for the next eight months,” Mrs. Grae said.
“There have been a lot of clients coming from Melbourne and strong interest from investors nationwide who see Bendigo as an attractive place to buy.”
Lansell Homes CEO Jeff Smith said this comes as no surprise to him.
“Compared to other regional centres and metropolitan Melbourne, Bendigo is affordable, and property here consistently delivers a desirable investment return. Anecdotal evidence in Bendigo rental markets is that landlords are getting over $50 p/w more on average now than two months ago,” he says.
Today, the Lansell team is busily putting plans in place for several estates and house and land packages across the Bendigo region. Learn more about these new releases *HERE*.