State of the property market

With our busy conveyancing department led by Mark O'Farrell, OFRM is in a good position to monitor the pulse of the Bendigo property market. We thought this blog might be a good way to share these insights with you.

November and December saw a busy end to the 2013 conveyancing year and our experience is that there are good movements in all areas of the market — homes all across the price ranges, blocks of land and investment properties.

It's exciting to see some spectacular additions to the Bendigo skyline in the last couple of days with the huge construction cranes at the new Bendigo Hospital site and the modules for the Art series Hotel being placed.

The new Bendigo Hospital will have a significant impact on the Bendigo market in the next few years. We are now starting to see the migration of people working in the construction moving to our great city. Next will be an increase in the workforce for the hospital and its associated areas.

The other area of potential growth for Bendigo from the new hospital is people after a "health change". No doubt you have heard of the "sea change" and the "tree change". The "health change" is people moving to get closer to the health and other services they need. This might be families who have someone with a chronic illness or it might just be older people who want to be near good health services in case their health deteriorates. With a world standard hospital building and the attraction to it of many quality health professionals, Bendigo shall be in a great position to attract new people to our great town.

If you are looking to place yourself well in this market, Mark and his team are able to help you with all the legal work involved.