Benalla is a well-established suburb in Victoria within the Benalla local government area (postcode 3672). With a population of 10,822, the suburb has a mature demographic with a median age of 51. Households earn a median income of $59K per year, with an average household size of 2.1 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.2% 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 professionals, technicians & trades, community & personal service. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Irish.
Benalla has a median house price of $418,000, which has declined by 5.1% year-on-year. Units have a median price of $313,000 (+1.1% YoY). The current median weekly rent is $450. This gives a gross rental yield of approximately 5.6%. The median monthly mortgage repayment is $1,253.
Benalla is served by 5 schools, including 1 primary, 1 secondary, 2 combined, 1 special. The average ICSEA score is 1014, which is around the national average of 1,000. Public transport access includes 5 rail stations, 49 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Benalla LGA is higher than average at 10,557 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 5.6%, which reads as high yield. Property prices sit below the state median ($418K/$875K), which can point to relative value. The price-to-income ratio of 7.0x is considered moderate. House prices have moved -5.1% year-on-year. Population growth of +0.2% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.