Property Values – Bendigo
Property values are determined by a number of factors, some of which are more obvious, and more influential than others. One of these more obvious influential factors is one that has been benefiting the property values within the city of Bendigo for a while now, is the local economy. The city of Bendigo is a city that stands out from others because of the many successful industries that it is home to, these include: education, tourism, commerce, as well as manufacturing, and mining.
The city of Bendigo is home to a number of elementary, and secondary schools that include: private, religious, public, and independent some of the most well-known include: The city of Bendigo is also home to, The Catholic College Bendigo ranges from Years 7–9 at the La Valla campus and 10–12 at the Coolock campus. In terms of post-secondary education, The Bendigo Senior Secondary College is the largest VCE (Victorian Certificate of Education) institution in the state. The Bendigo campus of La Trobe University is also a large and growing educational institution that welcomes over 5,000 undergraduates and postgraduates annually in its five faculties.
Tourism is a dominant industry within Bendigo economy, generating over $364 million in the 2008/09 fiscal year. Bendigo is popular with both cultural and heritage tourists with much of the focus of tourism on the cities gold rush history. Some of the most prominent attractions include The Great Stupa, The Golden Dragon Museum, The Bendigo Pottery, The Bendigo Tramways, and the Central Deborah Gold Mine.
The city of Bendigo is home to a strong central business district that is home of the headquarters of the Bendigo Bank, The Bendigo Stock Exchange, and multiple shopping districts.
Approximately 10% of the Bendigo workforce work in the manufacturing industry. This is because after the Victorian Gold Rush the introduction of deep quartz mining in Bendigo led to the development of a heavy manufacturing industry. Some of the most dominant companies within the manufacturing industry of Bendigo include: Thales Australia, Intervet, and Australian Defense Apparel.
One of the largest revelations made during the Victorian Gold Rush was the amount of gold deposits that are located in the city of Bendigo, and other surrounding areas. The gold that was found at Bendigo was found in the quartz reef systems, hosted within highly deformed mudstones and sandstones or were washed away into channels of ancient rivers.
The local economy, and the job opportunities that a city has to offer has a great influence on the property values. This is because there are few factors that impact the demand for real estate more than a strong economy, and job opportunities. This demand for real estate is one of the factors that have caused the local and nearby property values to grow as they have. Cities like Bendigo that have numerous thriving industries, and employment opportunities are often considered to be better places to live, and provide a higher quality of life for its residents; whereas, cities that do not have these thriving industries or employment opportunities have, in many key ways do not have the abilities or resources to provide residents with the a higher standard of living.
If you are looking to find out what your property value is, and why it is that much, a great place to start is to give the local economy, employment rate, and employment opportunities a good look. The economy, and employment is in many ways the backbone of a city, and provides a lot of insight as to what the property values are, and what the overall standard of living is.