Bendigo luxury properties: Mansions vying for house price record
40 Forest Street could become Bendigo’s most expensive residence.
A grand seven-bedroom residence completed in the heart of Bendigo is tipped to become the city’s priciest pad.
But it’s not the only home with a multimillion-dollar price tag on the local market, as post-COVID demand drives an increase in prestige pricing.
The expansive Victorian mansion at 40 Forest Street is for sale with $2.495-$2.744m price hopes: more than $2m above the area’s $435,000 median house price.
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The property has been on the market since September 2019. But DCK Real Estate Bendigo agent Kaye Lazenby said it was simply “waiting for the right buyer” after being in the same hands for two decades.
The stately 1700sq m block known as Bishops Court boasts a grand entry hall, a library, billiards room, and stables with a modern self-contained apartment.
The impressive property.
The interiors are complete with period fireplaces and window dressings.
A dedicated billiards room.
“For the price point, it has been getting some inquiry,” Ms Lazenby said.
She said there was only ever “a handful” of luxury properties like it on offer in Bendigo at a time.
“You’re getting quite a lot of land and it’s a very flexible floorplan so you can have more living spaces or home offices,” Ms Lazenby said.
“The current owners also get a bit of extra income by using the apartment as a successful bed and breakfast.”
Just one of the grand bedrooms.
Inside the self-contained apartment.
Similar historic homes at 282 View Street, priced at $2.395m, and 38 MacKenzie Street, being offered for $2.17-$2.929m, are also vying for high-end sales.
The five-bedroom View Street property offers a period-style residence, featuring the original triple-brick exterior with a modern extension at the rear.
Tweed Sutherland First National Bendigo director Andrew Pearce said it was “just a matter of time” before the prestige property was snapped up.
282 View Street, Bendigo, is another luxury property on the market.
An expansive living and dining space.
Chandeliers complete the historic residence.
“We’ve had a number of inspections and interest from metro buyers and coincidentally some Bendigo buyers too,” Mr Pearce said.
“It’s very well priced for someone coming from Melbourne.”
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If it achieves its impressive asking price, it will surpass the area’s current residential price record of $2.25m, achieved by 288 View Street last year.
Mr Pearce said Bendigo’s pricing had “dramatically gone up” after lockdown because of “low stock and high demand”.
288 View Street also sold for $2.25m last year.
“If it was prior to COVID, we might not be seeing these properties reach this price point. But in just a matter of months, everything’s gone up,” he said.
Bendigo’s median house price has already increased 11.1 per cent to $435,000 in the past three months alone, while units had jumped 20.8 per cent to $305,000 in the same time period, according to realestate.com.au.
Mr Pearce said new flexible working from home arrangements had encouraged locals to stay in the area rather than making a move to Melbourne, as more metro buyers had also set their sights on the region.
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BENDIGO’S MOST EXPENSIVE SINGLE RESIDENTIAL SALES
288 View Street, Bendigo – Sold $2.25m in May 2020
55-57 Barkly Street, Bendigo – Sold $2.225.in Oct 2016
39 Barkly Street, Bendigo – Sold $2.1m in Aug 2016
154 Barnard Street, Bendigo – Sold $1.973m Jun 2018
3 Langston Street, Bendigo – Sold $1.95m in Feb 2019
Data: CoreLogic records