Fraser Coast regional area sees increase in land valuations
Valuer-General Neil Bray said the valuations reflected land values on 1 October 2017 and showed Fraser Coast Regional area’s land values had increased by 5.5 per cent overall since the last valuation in 2016.
“Land values have generally increased in the major coastal centre of Hervey Bay since the last valuation, with minor increases in some market sectors and localities,” he said.
“Residential values have held steady in Maryborough and most hinterland towns while commercial, industrial, rural residential and primary production markets were generally unchanged.
“Some localities such as Eli Waters reflected large increases in median values due to improved market activity with the median value of residential land increasing from $112,000 to $134,000.”
“Coastal centres such as Toogoom, River Heads and Maaroom have had minor to moderate increases in value, however median values in Burrum Heads and Poona have fallen slightly. Median values now range from $74,000 in Poona to $180,000 in Dundowran Beach.”
- Rural residential value impacts generally mirror the changes in the urban areas with land values increasing around Hervey Bay while hinterland values are generally static.
- The static to rising market has resulted in a slight increase to the overall median value of $117,000 since the previous valuation in 2016.
- Industrial, retail and other commercial sales activity has been subdued across the region with most values remaining unchanged reflecting local economic conditions. As a result, the overall value of both commercial and industrial lands have increased slightly across the region.
- Farming activities such as sugar cane, cattle and tree crops remain significant enterprises throughout the Fraser Coast area however the overall rural land value is unchanged reflecting limited market activity since 2016.
For a more detailed breakdown of the Fraser Coast Regional Council valuations follow the link below. The State valuation list for the Fraser Coast Regional Council can also be viewed at the Department of Natural Resources, Mines and Energy, Station Chambers, 120 Lennox Street, Maryborough during normal business hours until close of business on 5 June 2018.
Valuations were last issued in the Fraser Coast Regional Council local government area in 2016.
Table 1 below provides information on median values for residential land within the Fraser Coast Regional Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 01/10/2015 ($)||New median value as at 1/10/2017 ($)||Change in median value (%)||Number of properties|
|Great Sandy Strait||187,500||187,500||0.0||5|
|All Residential Localities||117,000||129,000||10.3||34,491|
* Does not include land valued as multi-unit or rural residential
Rural residential land
Table 2 below provides information on the median value for rural residential land within the Fraser Coast Regional Council area.
Table 2 – Median value of rural residential land*
|Land use category||Previous median value as at 01/10/2015 ($)||New median value as at 1/10/2017 ($)||Change in median value (%)||Number of properties|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Fraser Coast Regional Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 01/10/2015 ($)||New total land value as at 1/10/2017 ($)||Change in total land value (%)||Number of properties|
Last updated 1 January 2003