SELLERS may have the upper hand in Bendigo's real estate market, with fewer properties listed but demand still strong.
Agents say fewer houses are coming onto the Bendigo market than at the same time last year. But many expect more listings come spring.
It's meant houses in top suburbs are spending fewer days on the market, agents say.
McKean McGregor licensed estate agent Jayden Donaldson said stock levels were slightly down on what they had been in previous years.
Mr Donaldson said there was a lot of energy among buyers and properties were spending fewer days on the market.
He said Bendigo was seen as a "star performer" filled with potential for investors, close to Melbourne with good infrastructure and job opportunities.
There had been a huge increase in the investment market in Bendigo as people from Melbourne could afford to get on the property ladder, Mr Donaldson said.
Homes within a few kilometres of Bendigo's centre in the $250,000-$500,000 price range were the most popular options for buyers, Mr Donaldson said.
"We're seeing a lot of positive media nationwide regarding the Bendigo property market," Mr Donaldson said.
"Definitely since the election we're seeing a lot of investment into Bendigo from all of Australia, particularly from investment firms and individuals from Melbourne and Sydney."
Mr Donaldson said it was hard to pinpoint why exactly stock levels were down on Bendigo's market.
He said appraisal numbers had increased in the past month, pointing towards a big spring and summer.
The number of first home buyers looking to buy land and build had also increased in the last three months, Mr Donaldson said.
He said these buyers were generally Bendigo based.
Maher Real Estate director Tom Maher concurred that Bendigo was getting interest from out of town investors, from Melbourne, Sydney and Canberra.
Mr Maher said the number of properties on the market had decreased based on listing portals.
He said investors liked Bendigo's good rate of return and low vacancy rates, while affordability drew first home buyers.
"Bendigo, the population is increasing every year. Return on investment, and it's a classic. It's a really good spot for first home buyers," Mr Maher said.
"You can get in and purchase a property here. Whereas Melbourne you may have to save for another five years before you can get the deposit."
Mr Maher said industries like mining and agriculture brought people to Bendigo for work.
He said he was expecting the market to keep ticking along into spring and summer.
Webster Real Estate Bendigo director Craig Webster said there was reduced turnover this year, because fewer properties were on the market.
Mr Webster said in some areas there was 25-30 per cent less stock.
"The market is quite good because demand is still quite strong in most price ranges but supply is down, which will increase for the spring period," Mr Webster said.
"We always get a greater supply for spring, but I think predominantly people are staying longer in their primary place of residence. That average is increasing, so that's over a 10 year period now."
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