Property values in our region continue to rise at a faster rate than Melbourne’s, according to new figures from PropTrack.
Its latest House Price Index has been released this week, showing the average cost of a home in Bendigo for the month of May was $651 thousand, that figure having increased by 7.7 percent compared to one year prior.
Ballarat saw an even higher rate of growth, with prices there rising by 10.4 percent over the same period to sit at $591k.
Both markets saw their property values increase at a greater level than the national average of 7.5 percent, while Melbourne recorded a growth rate of just 0.3 percent.
REA Group Senior Economist Angus Moore believes that nationally, house prices have stalled as a result of this year’s consecutive rate hikes.
“The slowdown has been most notable in Sydney and Melbourne, with both cities posting their third consecutive decline in home prices,” Mr Moore says, adding the slowdown hasn’t just been confined to those markets.
“Brisbane, Perth and Adelaide have clearly slowed, after an extremely strong 2025.
“Prices were down slightly in Perth, and while prices were up modestly in Brisbane and Adelaide, it was the slowest month of growth for both since late 2022 to early 2023.
“With at least one further rate hike expected in 2026, and some pullback in investor demand post-Budget, prices are likely to continue to be soft.
“Even so, price declines are unlikely to be large as the labour market remains resilient, households have strong equity buffers, in turn, limiting forced sales, and high construction costs and supply constraints are limiting the volume of new homes.”
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