Bendigo real estate agents are bullish about the local market's prospects following the Reserve Bank of Australia's decision to keep the official interest rate at 0.25 per cent for another month.
PH Property director Brad Hinton said a low interest rate makes purchasing property in Bendigo even more attractive.
"Your returns are going to be pretty solid and repayments won't be compromised by higher interest rates," Mr Hinton said.
"This lead to more cash for investors to re-invest into the market or put into their bank accounts."
Tweed Sutherland First National director Matt Leonard said a low interest rate is more good news for an already buoyant Bendigo real estate market.
"It gives anyone with a mortgage or anyone looking to buy a home a level of comfort to know the status quo has remained," Mr Leonard said.
"Money has never been cheaper.
"The fact that you can fix a loan in the low two per cent range also gives an indication interest rates could drop even further."
RBA Governor Philip Lowe said despite signs of gradual improvement, the nature and speed of Australia's economic rebound remains highly uncertain.
Dr Lowe said the uncertainty about the health crisis and future economic strength is making many households and businesses cautious.
Mr Hinton points to the past three months as evidence of the ability of Bendigo's real estate industry to weather the broader economic storm.
"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," he said.
Real Estate Industry of Victorian Bendigo division president Tom Maher said the industry has come together as one amid the COVID-19 pandemic.
"Bendigo has always had a strong representation at REIV meetings, even when we were part of a broader regional area," Mr Maher said.
"We once formed part of the Loddon Goulburn division, which took us as far as Woodend and across to Shepparton.
"The Bendigo division is the only regional division remaining in Victoria and that's testament to the good governance rules that we all adhere to."
- with AAP
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