The Central Victorian city of Greater Bendigo has emerged as a top destination for internal migration in Australia, according to new data released by CommBank and the Regional Australia Institute (RAI).
The latest Regional Movers Index (RMI) revealed that Greater Bendigo recorded a 65% annual growth in net internal migration from 2023 to 2024, making it the most popular local government area (LGA) for regional movers in Victoria.
Greater Bendigo’s appeal is rooted in its vibrant arts and cultural scene, natural beauty, and well-established education and health infrastructure. While traditionally a favourite among regional movers, the city has seen a surge in appeal for city-based Australians seeking a tree change.
In the December quarter, Bendigo recorded the highest growth among capital-to-regional movers (63.2%), and second highest nationally for capital-regional migration, with a staggering 278.7% annual growth.
To accommodate ongoing and future growth, the City of Greater Bendigo has adopted a long-term managed growth strategy to guide residential development through to 2056. The strategy outlines plans for approximately 38,000 new dwellings—primarily in well-serviced urban areas—with key growth zones identified in Marong, Huntly, Maiden Gully, and Strathfieldsaye.
The release of the RMI data coincided with CommBank’s business banking leadership visiting Bendigo, where they met with local businesses and community leaders to discuss growth potential and regional challenges.
“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,” said Mike Vacy-Lyle (pictured), CommBank group executive for business banking.
“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.”
Vacy-Lyle highlighted the economic momentum building in the region despite the rising 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,” he said.
“With the right investments channelled into the right areas, Bendigo is well positioned to support the state’s economic growth.”
To meet the evolving needs of local enterprises, CommBank recently opened a new business banking centre at 47 Queen St.
The $2.1 million renovation includes state-of-the-art facilities designed to support business banking customers in a modern, accessible environment.
The centre is staffed by a growing team of commercial, agribusiness, and small business specialists who live in the region and understand the unique challenges of local business owners.
The appointment of Fiona Corrigan as executive manager regional and agribusiness banking, who relocated from Melbourne to Bendigo, adds further strength to the local leadership.
“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,” Vacy-Lyle said.
“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.”
Strengthening its century-long footprint in Bendigo, CommBank also reopened its CBD branch at 116–120 Mitchell Street, following a $2m renovation.
The branch offers an improved in-person banking experience aligned with customer expectations.
CommBank’s nationwide ATM network remains the largest in Australia, and the bank has renewed its commitment to maintaining its regional branch network through to mid-2027, ensuring continued service access for local residents.
