Etheridge sees increases in land values
Landowners across Etheridge have today awoken to new land valuations after extensive land sales and economic analysis undertaken by the state’s valuation service.
Queensland’s Valuer-General Neil Bray said the valuations reflected up to date and current land values and showed the values in the Ethridge Shire Council area had increased by as much as 42.5 per cent overall since the last valuation in 2014.
“Residential values have risen moderately in Georgetown, while commercial and industrial areas have also increased,” Mr Bray said.
“Rural markets have increased in value since successive reductions after the peak of 2007–08. While some areas like Georgetown which reflected moderate increases did so due to demand demonstrated by sales. The median value of residential land in Georgetown has increased from $12,400 to $16,000.”
Mr Bray said the land valuations are used by councils as a guide to determine what to charge in rates, state land tax and for state land rental amounts.
“These valuations will become effective 30 June, however I encourage landowners who believe they have additional or new evidence which may alter their new valuation to provide this information through the online objections process via www.qld.gov.au/landvaluation or at the address shown at the top of their valuation notice by 7 May 2019,” Mr Bray said.
For a more detailed breakdown of the Etheridge Shire Council valuations follow the link below. Hard copies of the valuation list for the Etheridge Shire Council can also be viewed at the the Etheridge Shire Council Office, 41 St George Street, Georgetown during normal business hours until close of business on 4 June 2019.
- Commercial and industrial land values within the local government area have generally mirrored the increases experienced in the residential sectors in Georgetown, Mount Surprise, Forsyth and Einasleigh reflecting the most recent sales evidence in these townships.
- Pastoral lands within Etheridge Shire is considered affordable compared to southern grazing markets.
- Current sales evidence supports values similar to the market highs of 2007–08.
- Changing market dynamics have been reflected in the new rural valuations, with the biggest increases at the bottom end of the market due to the affordability of that class of property.
- Significant increases at the top end of the rural market have also occurred due to interest from large corporate and institutional investors.
Valuations were last issued in the Etheridge Shire Council local government area in 2014.
Table 1 below provides information on median values for residential land within the Etheridge Shire Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2013 ($)||New median value as at 1/10/2018 ($)||Change in median value (%)||Number of properties|
|All residential localities||12,000||15,000||25.0||265|
* Does not include land valued as multi-unit or rural residential
Rural residential land
Table 2 below provides information on the median value for rural residential land within the Etheridge Shire Council area.
Table 2 – Median value of rural residential land*
|Land Use||Previous median value as at 1/10/2013 ($)||New median value as at 1/10/2018 ($)||Change in median value (%)||Number of properties|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Etheridge Shire Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2013 ($)||New total land value as at 1/10/2018 ($)||Change in total land value (%)||Number of properties|
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Last updated 6 March 2019