A RISE in Bendigo's average house price over the past year reflects a growth in interest from out-of-town buyers, an agent says.
Greater Bendigo's median house price rose by 9.9 per cent in the 12 months to December 2020, while its quarterly house price rose by five per cent according to new figures from the Real Estate Institute of Victoria.
It brings the municipality's median house price to $420,000.
Growth is matched by prices across the region, reflected in statistics for the Campaspe, Central Goldfields Loddon and Mount Alexander shires.
McKean McGregor licensed estate agent Jayden Donaldson said the growth figures backed up what agents were experiencing.
He said interest was particularly strong among out-of-town buyers, because of Bendigo's relatively low median house price compared to Ballarat, Geelong and Melbourne.
Mr Donaldson said more than twice as many prospective buyers would normally enquire straight about a new listing, than 12 months ago.
He said homes under $600,000 were particularly popular with investors.
Mr Donaldson said Bendigo was an attractive prospect for buyers looking to relocate, with lots of government investment into services, as well as proximity to Melbourne.
He said fewer homes were were coming onto the Bendigo market now than 12 months ago.
Read more: Property prices surge in Bendigo's suburbs
Regional Victoria has reported the largest increase in quarterly growth since 2003 during the final three months of 2020.
House prices reached a median of $485,500, a 9.2 per cent increase from the September quarter and a 7.5 per cent annual growth.
In Mount Alexander the median house price in December was $560,000, Campaspe $380,000, Central Goldfields $291,000, Loddon $230,000.
Regional unit prices recorded a 3.5 per cent quarterly increase and a 10.3 per cent 12-monthly change.
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