The Benalla market is primed to explode

Benalla is set to experience a transformative economic shift with the establishment of two major manufacturing facilities and the growing industry of solar farms. These projects signal a substantial boost to the local economy, creating hundreds of new jobs across various skill levels and attracting workers from both within and outside the region. These developments not only promise significant job creation but also highlight investment opportunities in the local housing market.

One of these facilities is Thales Australia, which has recently been selected to establish a new domestic capability for manufacturing munitions in Benalla, following the Defence Force’s signing of a $1.1 billion contract. This 152-hectare facility is expected to provide a significant boost to the local economy by creating 550 jobs during the program’s setup phase, with an additional 100 full-time positions opening for advanced manufacturing roles.

Alongside Thales Australia is LS Precast, the second driving force behind the economic transformation of Benalla. This facility is the largest of its kind in Victoria and valued at $60 million. LS Precast plays a vital role in delivering major infrastructure projects such as Melbourne’s North-East Link and the West Gate Tunnel Project. This new order is set to generate approximately 90 full-time jobs, further bolstering Benalla’s economic growth.

However, these opportunities also present challenges for the city. Annabelle Cleeland – Member for Euroa, has recently come out in the media and shared her concerns around Thale’s new project’s ability to house all its new staff and contractors. With Benalla’s vacancy rate sitting already dangerously low at 0.69% the introduction of hundreds of new residents will quickly put pressure on house prices as well as rentals.

With Benalla set to be the home of a multi-million-dollar defence contract, it is essential that benefits find their way back into the local community…. | By Annabelle Cleeland MP on WIN NEWS Shepparton

To further compound the issue is that there is a currently blanket ban on new permits being issued in the Benalla region due to the current sewer capacity issues. This glut in conjuntion with the supply of land is placing further pressure on the local housing market which is already struggling to keep up. With no immediate plans to update the sewer system it looks like the current housing opportunities will see a massive surge in price soon.

Despite the challenges, Benalla has long been a thriving regional center with solid economic foundations, supported by a GDP of $1.1 billion, reflecting its strong economic performance and growth potential. This is solid proof that the town is a desirable place to live and work, boasting an impressively low unemployment rate of 3.1% in October 2024. And adding to its appeal is the growing solar farm industry, which not only underscores Benalla’s commitment to renewable energy but also contributes to its economic diversification and sustainability.

In conclusion, Benalla’s housing market is likely to experience a significant rise in demand, fueled by the town’s growing manufacturing sector, strong economic performance and other infrastructure investments. Livingston Estate offers an exceptional opportunity for investors to take advantage of this projected growth and secure a in one of regional Victoria’s most promising markets.