Benalla Property Market: Affordable Gem or Risky Bet?

Suburb Details:

This week we are taking a closer look at Benalla, a regional Victorian town that blends affordability with surprising economic diversity. While not a large centre, Benalla has a mix of health care, manufacturing, agriculture, and tourism driving its economy, offering investors an interesting alternative to bigger regional hubs. With transport connections via the Hume Freeway and V/Line services, it also has stronger accessibility than many towns of a similar size.

Key Data Metrics ➕ 

_{*Note: Data derived from either DSR, Suburbs Finder or HTAG depending on reliability and availability of metrics. This is only a guide and best to cross-reference with other sources.}

Location & Infrastructure 🗺️ 

Located in north-east Victoria, Benalla sits along the Hume Freeway, providing direct road connections to Melbourne (about 2.5 hours) and Albury-Wodonga (around 1 hour). The town benefits from a V/Line train service linking it to Melbourne and Shepparton, making it accessible for commuters and regional travellers. Benalla hosts a regional hospital, a number of primary and secondary schools, and community services that support its population. Its infrastructure also supports strong tourism, particularly with Lake Benalla, Winton Motor Raceway nearby, and its reputation as the “Rose City,” attracting visitors year-round.

Economic Diversity & Jobs 💵 

Benalla has a modest but diverse local economy supported by agriculture, manufacturing, health care, and public administration. The manufacturing sector, including engineering and defence suppliers, contributes significantly to employment, alongside agriculture which remains a key driver in the region. Health care and social assistance are the largest employing industries, accounting for around 15% of the workforce, while retail and education services also provide steady job opportunities. The unemployment rate typically trends close to the regional Victorian average, sitting between 3–4% in recent years, highlighting a reasonably stable jobs base for a town of around 14,000 residents.

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Example Property 🏚️ 

_{*Note: These calculations are purely estimations, but overall numbers will vary depending on your deposit, interest rates and other factors.}

Pro’s Of Investing In Benalla ✅ 

• Very affordable housing with prices well below metro averages

• Falling stock levels tightening future supply

• Low building approvals limiting incoming competition

• Great long-term affordability with house values steady across decades

• Low rent-to-ownership ratio supporting stability

• Strong rental yields compared to other regional locations in VIC.

• Connections close to strong regional hubs of Shepparton & Albury-Wodonga

Con’s Of Investing In Benalla ❌ 

• Significant portions of the town fall within a flood zone be very careful!

• Smaller population base possibly scale of growth.

My Opinion🤔

Benalla is far from a booming market, but its affordability, rental yields and falling stock levels make it one to watch. However, rising vacancies, flood-zone concerns, and its smaller population base highlight the need for careful due diligence. For investors, Benalla represents a balanced case: not without risks, but potentially rewarding for those seeking long-term affordability and steady returns.

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Total Value: $1,299→ Today’s Price $35

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_{Disclaimer: The information provided in this article is for educational and informational purposes only. It is not intended as financial, legal, or professional advice. Always do your own research and consult with a qualified professional before making any decisions. The opinions expressed here are solely those of the speaker and do not reflect the opinions or views of any other organisation. By using this information, you agree that the creator of this content is not responsible for any financial or other losses you might incur.}