Benalla is Victoria's slowest market for selling townhouses: Investar

Benalla is Victoria's slowest market for selling townhouses: Investar
Staff reporterNovember 24, 2016

Benalla is ranked as one of Victoria's slowest selling locations for townhouses, according to Investar’s latest market report.

The property investment firm states that an average two bedroom townhouse in Benalla can expect to be on the market for 458 days before being sold.

This is followed by Iverloch at 451 days and Shepparton at 403 days.

SuburbPostcodeDwelling typeBedroomsDays on market
Benalla3672Townhouse2458
Iverloch3996Townhouse3451
Shepparton3630Townhouse2403
Sehpparton3630Townhouse3388
Bendigo3550Townhouse3384

This list was produced using live on the market sales listing data.

It is also calculated by distinguishing between both dwelling type and bedroom number level. It is designed to identify the slowest moving suburbs based on the average days a listing spends on the market at a suburb and property type level.

High average days on market indicates that the market is turning over stock slowly which may indicate that demand is weaker than supply creating a stronger negotiation point for buyers.

Townhouses for sale at Benalla at the median price of $202,000 include a two bedroom townhouse at 2/39 Market St (above) that is for sale for $205,000. It last traded for $160,000 in 2014.

Similarly, a two bedroom townhouse at 9 Riverview Road (below) is for sale for $220,000. It last traded for $205,000 in 2011.

Editor's Picks

GURNER commences demolition on $2.75 billion Jam Factory redevelopment in South Yarra
Mosaic secure $210m in pre-sales at The Bedford by Mosaic in Kangaroo Point
First look: GRAYA files plans for Ivory New Farm apartments
The Sydney suburbs first home buyers are looking to buy off the plan apartments
Melbourne’s most popular suburbs for downsizing and rightsizing in 2024