Bendigo attracting first home buyers

The Bendigo residential market has seen consistent growth over the past 12 months, according to the valuation firm, Herron Todd White.

Bendigo's growth comes with increasing government support for first home buyers in regional areas.

"This increase in funding has seen a lift in new home construction rates in the Bendigo area particularly in the new estates around Epsom, Marong and Huntly," HTW noted.

With property prices rising in the capital cities, regional centres such as Bendigo offer first home buyers an opportunity to live in a new home within 20 minutes of a CBD for less than half a million dollars.

For homes under $350,000 in value, rental rates are only marginally cheaper than paying a mortgage.

A two-bedroom house at 2/10 Larritt Street (picture above) sold for $292,500 recently.

Another two-bedroom house at 7/83-87 Arnold Street (below) changed hands recently for $338,000.

HTW noted with the Calder Highway and V-line trains connecting Bendigo to Melbourne within two hours of travel, "Bendigo is far from isolated."