Located in Victoria within the Greater Bendigo local government area, Heathcote is a smaller residential area (postcode 3523). It is home to about 2,962 residents, with an older demographic and a median age of 57. Households earn a median income of $49K per year, with an average household size of 2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are technicians & trades, professionals, labourers. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Irish.
The median house price in Heathcote is $503,000, having risen by 3.6% over the past year. Units have a median price of $385,000 (+7.7% YoY). The current median weekly rent is $493. This gives a gross rental yield of approximately 5.1%. The median monthly mortgage repayment is $1,291.
Heathcote is served by 2 schools, including 2 primary. The average ICSEA score is 982, which is around the national average of 1,000. Public transport access includes 10 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Greater Bendigo LGA is higher than average at 9,634 incidents per 100,000 population.
On the investment side, Heathcote shows a gross rental yield of approximately 5.1%, rated as high yield. Property prices sit below the state median ($503K/$875K), which can point to relative value. The price-to-income ratio of 10.2x is considered stretched. House prices have moved +3.6% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.