Redland sees increases in land values
Landowners across the Redlands 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 Redland City Council area had increased by as much as 10.9 per cent overall since its last valuation in 2016.
“Residential land values have been static on the bay islands, while rural residential, commercial and industrial land values increased in Redland City overall,” Mr Bray said.
“Some localities such as Alexandra Hills reflected moderate increases in median values due to a high demand for affordable land, while the median value of residential land at Point Lookout also increased from $435,000 to $520,000.
“The demand for affordable land has resulted in higher increases in value in that market.
“Demand for large home-sites resulted in an overall minor increase to the rural residential median value however there were significant increases to some properties. Rural land increased significantly overall.
“Commercial land value showed a minor increase overall as a result of demand for land to service a growing population, while industrial land value had a slight increase due to low levels of industrial activity in the area.
“Demand for multi-unit land, particularly near the waterfront, has resulted in a minor overall increase in value.
Mr Bray said land valuations are used by councils as a guide to determine what to charge in rates, and for state land tax and state land rental amounts.
“These valuations will become effective 30 June, however I encourage landowners who believe they have additional or new evidence which may alter their new valuation to provide this information through the online objections process via www.qld.gov.au/landvaluation or at the address shown at the top of their valuation notice by 7 May 2019,” Mr Bray said.
For a more detailed breakdown of the Redland City Council valuations follow the link below. Hard copies of the valuation list for the Redland City Council can also be viewed at the the Redland City Council, Cleveland Customer Service Centre, Cnr Bloomfield and Middle Streets, Cleveland during normal business hours until close of business on 4 June 2019.
Valuations were last issued in the Redland City Council local government area in 2016.
Table 1 below provides information on median values for residential land within the Redland City Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2015 ($)||New median value as at 1/10/2018 ($)||Change in median value (%)||Number of properties|
|North Stradbroke Island||198,750||198,750||0.0||4|
|All residential localities||275,000||300,000||9.1||56,181|
* Does not include land valued as multi-unit or rural residential
Rural residential landTable 2 below provides information on the median value for rural residential land within the Redland City Council area.
Table 2 – Median value of rural residential land*
|Land Use||Previous median value as at 1/10/2015 ($)||New median value as at 1/10/2018 ($)||Change in median value (%)||Number of properties|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Redland City Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2015 ($)||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