Bendigo real estate market flourishes despite COVID-19 pandemic

The Bendigo property market has remained strong despite the COVID-19 pandemic.

Lansell Homes CEO Jeff Smith feels that confidence in the local real estate sector is justified and only getting stronger.

“Bendigo is one of the few real estate markets to see fantastic growth, every year, for the last 20 years,” said Jeff.  “With annual rental returns of approximately 8%, year on year since 2000.”

PH Property director Brad Hinton feels the same way. In a recent Bendigo Advertiser article, Brad argues that local market activity in recent months is proof of Bendigo’s ability to weather larger economic upheaval.

“The stability of our median sale price in past years, with no giant leaps forward or major steps back, shows there is both short and long-term confidence in our real estate market,” states Brad.

READ MORE: COVID-19 pandemic does little to dampen Bendigo property market with a low-interest rate offering added incentive

The Reserve Bank of Australia decided to keep the official interest rate at a historic low of 0.25% earlier this month. While this is enough in itself to entice property purchasers, the Government is also offering grants that make choosing to build a new house and land package particularly enticing.

“Homebuyers are motivated by the $25,000 Homebuilder grant to get the ball rolling on their new home as soon as possible,” says Jeff. “We are seeing several forward thinking Downsizers who are cashing in on the lucrative Bendigo property prices right now to put some extra cash in the bank when they sell their existing home.”

As land developers, Lansell Homes is one of the few builders who have a stock of House and Land packages ready to meet the Government’s contract deadlines for the $25,000 grant.

Don’t miss out, speak to Joanne Grae on 0448 829 957 today to learn more!