Property research shows Median house prices in Bendigo have more than tripled in the past 20 years

Property market analysts Propertyology have released data showing Bendigo's median house price is around $560,00 compared to $135,000 in 2002. The report says median house values increased 3.7 times in Melbourne from $248,000 in 2002 to $920,000 this year while Sydney jumped from $364,000 to $1.35 million.

Propertyology head of research, Simon Pressley said the last 20 years had seen the implementation of GST, the Global Financial Crisis, a national credit crunch and the COVID pandemic.

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"Yesteryear's headlines contained a plethora of so-called horror stories. But those who allowed the negativity to keep them on the sidelines are the ones today saying '...I shoulda, coulda, woulda'," he said.

"Over the last three years, the median house price in 130 of the 150 largest townships in Australia increased by 40 percent of more. Their job security has never been better, we are at full employment, wages are now really rising."

Data from the Real Estate Institute of Victoria reported a similar 20-year growth for Bendigo with median house prices in September listed at $670,000 compared to $150,000 in September, 2002 - a rise of 346.7 per cent. REIV reports unit prices in Bendigo have risen from $125,000 to $505,250 in the past two decades.

Bendigo's median house prices is one of the more affordable in the state with REIV data showing the suburb is far from the top 10 median house prices in regional Victoria.

Wallington in the Greater Geelong area tops the list at $2.375 million and Lake Wendouree in Ballarat sitting in 10^th spot with a median price of $1.362 million.

The REIV's top 10 suburbs that have seen the biggest median house price increase sees Bendigo at ninth in with its 346.7 per cent increase.

Mansfield tops the list with an increase of 437 per cent to $835,000 while New Gisborne (Up by 382.4 per cent to $1.2 million) is sixth, and Gisborne (Up by 379.3 per cent to $1.102 million) is seventh.

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