Ipswich sees increases in land values
Landowners across Ipswich 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 values in the Ipswich City Council area had increased by as much as 8.8 per cent overall since the last valuation in 2017.
“Residential values have risen in Springfield and Ripley, while commercial and industrial areas also increased,” Mr Bray said.
“The rural residential and primary production markets increased and some localities such as South Ripley reflected moderate increases in average values due to demand for new and affordable land with the average value of residential land in Springfield increasing from $215,000 to $237,500.
“Steady demand for rural home sites particularly about the eastern edge of the city resulted in a minor increase overall.
“High demand for land in the emerging Ipswich CBD medical precinct has resulted in significant increase in commercial land value. Otherwise commercial land value had a minor increase overall.
“The industrial land market had a slight increase overall.
Mr Bray said land valuations are used by councils as a guide to determine what to charge in rates, for state land tax and state land rental amounts.
“These valuations will become effective 30 June, however I encourage landowners who believe they have additional or new evidence which may alter their new valuation to provide this information through the online objections process via www.qld.gov.au/landvaluation or at the address shown at the top of their valuation notice by 7 May 2019,” Mr Bray said.
For a more detailed breakdown of the Ipswich City Council valuations follow the link below. Hard copies of the valuation list for the Ipswich City Council can also be viewed at the the Department of Natural Resources, Mines and Energy, Level 4, Icon Tower, 117 Brisbane Street, Ipswich during normal business hours until close of business on 4 June 2019.
Valuations were last issued in the Ipswich City Council local government area in 2017.
Table 1 below provides information on median values for residential land within the Ipswich City Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2016 ($)||New median value as at 1/10/2018 ($)||Change in median value (%)||Number of properties|
|Lower Mount Walker||89,500||94,000||5.0||2|
|All residential localities||155,000||167,500||8.1||67,714|
* Does not include land valued as multi-unit or rural residential
Rural residential land
Table 2 below provides information on the median value for rural residential land within the Ipswich City Council area.
Table 2 – Median value of rural residential land*
|Land Use||Previous median value as at 1/10/2016 ($)||New median value as at 1/10/2018 ($)||Change in median value (%)||Number of properties|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Ipswich City Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2016($)||New total land value as at 1/10/2018($)||Change in total land value(%)||Number of properties|
For further information contact Department of Natural Resources, Mines and Energy Media Services email@example.com
Last updated 6 March 2019