But while the municipality’s median house price remains solid at $335,000, savvy buyers can still buy into the market for significantly less.

New data, compiled by the Real Estate Institute of Victoria, shows a substantial difference between the median house price and the lower quartile – that is, the lowest 25 per cent of all sales in an area – in multiple Bendigo locations.

In the 12 months to June 30, Long Gully had the municipality’s most affordable lower quartile, at $202,500 – significantly less than the $335,000 Greater Bendigo median.

This was followed by Heathcote where a quarter of all buyers were able to enter the market for $213,750.

This was 25 per cent less than the town’s median house price of $285,000 and the region’s largest difference between the median and the lower quartile. 

Ironbark also offered buyers an affordable option with a quarter of all buyers entering the market for $222,500 – 10 per cent less than the suburb’s median house price of $247,500.

Buyers on a budget could also purchase a home in White Hills or California Gully, with both suburbs recording lower quartiles of $235,000 – 16 and 15 per cent less than the median house price respectively.

Other areas within the Greater Bendigo municipality where buyers can enter the market at an affordable rate include:

Meanwhile, one of the municipality’s largest differences between the median house price and lower quartile was recorded in Golden Square, where a quarter of all homes in the suburb sold for $250,000 – 21 per cent less than the median house price of $318,000.

A significant difference between the median and lower quartile was also recorded in:

By looking at a range of properties within the suburb or town of your choice, you’ll be able to find the home that meets your needs at a price point to match.

There’s a range of information on Bendigo house prices – including medians by house size, and lower quartiles – online at reiv.com.au