Although Mount Beauty is the slowest suburb in Victoria, it isn’t necessarily oversupplied, with only 36 houses currently on the market.
Mounty Beauty Victoria's slowest-selling suburb
Located in Victoria's high country, Mount Beauty – with a median house price of $155,000 – is Victoria’s slowest-selling suburbs, with a whopping average of 232 days on the market.
Terang – 212 kilometers south west of Melbourne – is second on the list, with an average of 218 days on the market and a median house price of $170,000.
And situated on the banks of Lake Hume in north-western Victoria, Tallangatta comes in a close third place, with an average of 217 days on the market and a median house price of $180,000.
Source: RP Data
A property located at 18 Beauty Avenue, Mount Beauty (pictured below), was first listed in October 2011 with an asking price of $193,000.
It is currently still on the market – 420 days later – but has dropped its asking price by $18,000 to $175,000.
The three-bedroom dwelling is on 635 square metres.
Another property in Mount Beauty has been on the market for 645 days.
Located at 14 Fairway Avenue, the two-bedroom house was first listed in February 2011 for $149,000.
It is currently listed at $139,000.
A three-bedroom house at 24 Freeburgh Avenue has been listed for 817 days at $195,000 – there has been no decrease in the asking price over this time.
Although Mount Beauty is the slowest suburb in Victoria, it isn’t necessarily oversupplied, with around 40 houses currently on the market.
Kingsbury, a suburb 12 kilometres north-east of Melbourne CBD – and with a median house price of $435,000 – is Victoria’s fastest-selling suburb, with an average of 30 days on the market.