New figures show public housing waiting lists have fallen across the region.

"It is only one quarter and I think we'd like to see that trend extend over a much longer period before we decided that was good news," Loddon Mallee Housing Services Niall Hensey said.

In Bendigo, eight-hundred-and-seventy-seven people are on waiting lists and two-hundred-and-nineteen for Swan Hill.

Mr Hensley says those figures could be much higher.

"There's a large component of hidden homeless people and they're people who opt out of registering for services through the government," he said.

The State Government acknowledges more needs to be done, and is investing millions of dollars in housing projects across the state.

There's currently more than one hundred properties being built in Bendigo.

Loddon Mallee Housing says its not just the needy who are struggling, with the dream of owning a family home becoming less likely.

"The trend in Australia will change towards a greater level of rental and possibly a greater level of high density living, as we move away from the notion of one's own home," he said.