Queensland land values are on their way up
The latest 2019 Property Market Movement Report released today shows land values are on their way up.
Queensland’s Valuer-General Neil Bray said the Report shows evidence of improved land values in the major urban areas in South East Queensland, and a number of farming areas across the state.
“This increase is due to the high residential demand in the greater Brisbane region, ongoing migration in several coastal centres as well as our strong agricultural industry – particularly in the grazing regions across Darling Downs and the Wide Bay –Burnett,” Mr Bray said.
“Rural land values have also increased – a great indicator of market confidence in Queensland’s rural and regional areas.
“While there has been some decline in residential land values in some regional centres, most local governments saw overall increases in total land values.
“The report indicates land values have increased in 16 of the 18 local government regions valued, including the Western Downs, Sunshine Coast and Brisbane which saw increases of 21.9 per cent, 10 per cent and 6.8 per cent respectively.
“Residential values in Longreach have decreased up to 45 percent, while rural land values have increased by 1.3 per cent.
“While land values have generally increased in most areas there has been a slowing in sales transactions across the state. The volume of property sales is also down for the first half of the 2018–19 with an average of 2747 daily lodgements for the transfer of land—down 6 per cent on the previous period.”
Mr Bray said the 2019 Property Market Movement Report provides statewide commentary for the next round of Queensland land valuations.
“The new land valuations will be available on 6 March and are valued on the basis of each area’s recent land sales history,” Mr Bray said.
Queensland’s Valuer–General is tasked with issuing land valuations used to determine council rates, state land tax and rental pricing for leasehold land.
The Valuer-General’s 2019 Property Market Movement Report is available at www.qld.gov.au/landvaluation.
Last updated 4 March 2019