Known for its thriving art and cultural scene, national parks and wineries, and established education and health services, Greater Bendigo has long been a favoured destination among regional movers. However in recent months, the RMI has seen a rising attraction among city-dwellers seeking a tree change. During the quarter ending December 2024, Greater Bendigo achieved the highest growth among capital to regional movers (63.2 per cent) and placed second nationally after recording a fourfold increase (278.7 per cent) in annual growth among capital-regional movers.
The release of the RMI data comes as CommBank’s Business Banking leadership and regional team met with several local businesses and community leaders across Central Victoria this week to discuss the issues and opportunities unique to the region.
CommBank Group Executive Business Banking, Mike Vacy-Lyle said: “In recent years, Bendigo and the surrounding region have experienced a population gold rush which is only expected to grow due to the area’s rich cultural history, scenic landscape and diverse economy. Its close proximity to Melbourne also appeals to those seeking the convenience of city living and country charm, without compromising on quality services, job opportunities or housing affordability.
“Despite the growing cost of doing business in regional areas, we are seeing strong gains across several sectors including health, manufacturing, professional services, transport and agriculture, with Greater Bendigo uniquely positioned to capitalise on this continued population boom. With the right investments channelled into the right areas, Bendigo is well positioned to support the state’s economic growth.”
To support the growing needs of Bendigo and Central Victoria’s community, CommBank recently opened a dedicated business centre in the heart of the city. Located at 47 Queen St, the $2.1 million renovation and relocation to the new premise offers a vibrant environment complete with state-of-the-art banking facilities designed to provide business banking customers with tailored services.
The new centre is operated by a growing team of commercial, agribusiness and small business banking specialists who live locally and have an unrivalled knowledge of the environments their customers operate in. This is further strengthened by the recent leadership appointment of Fiona Corrigan to the role of CommBank Executive Manager Regional and Agribusiness Banking, who like many residents, recently relocated with her family from Melbourne to Bendigo.
Mr Vacy-Lyle continued: “Our commitment to Bendigo and Victoria runs deep and we continue to invest in our people and banking facilities to support the everyday banking needs of the local community.
“To help business owners capitalise on economic opportunities across the region, we are also working with local councils and chambers of commerce including Be.Bendigo, as well as community leaders to unlock areas of investment and create sustained growth locally.”
Further bolstering the bank’s 100 year presence in the region is the recent opening of the Bendigo CBD branch, relocating to a new location on 116 – 120 Mitchell St after undergoing a $2 million fit-out to offer customers an improved banking experience. In addition to operating the largest ATM network in the country, CommBank has renewed its commitment to maintaining its regional branch network until mid-2027.
