Sunshine Coast sees increases in land values
Landowners across the Sunshine Coast 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 Sunshine Coast Regional Council area had increased by as much as 10 per cent overall since its last valuation in 2018.
“Residential land values have risen across the Sunshine Coast, while some commercial and industrial regions increased slightly and the rural residential and farming markets increased,” Mr Bray said.
“The Sunshine Coast continues to be a highly desirable location with the growth in land values underpinned by intra and interstate migration and substantial infrastructure investment.
“Some areas like Nambour and Palmwoods reflected moderate increases in median residential land values due to their location and affordability - The median value of residential land in Palmwoods increased $40,000 from $210,000 to $250,000.
“The updated Sunshine Coast median residential value of $275,000 has had a minor increase since 2018, reflecting the ongoing demand for coastal and hinterland residential property in the region.
“The high demand for coastal living in areas south of the Maroochy River have led to minor increases in most median residential values - Minyama increasing to $720,000 and Pelican Waters to $350,000. Median values in Buderim also rose to $285,000, while Sippy Downs saw a minor increase to $237,500.”
“North of the Maroochy River increases in land values vary from moderate increases at Twin Waters to a slight change at Pacific Paradise. Median residential values now range from $382,500 at Point Arkwright to $227,500 at Pacific Paradise.
“The North Coast railway towns have seen varying changes ranging from no change in Landsborough to a moderate increase in Nambour. - The median residential value in Nambour has increased to $215,000 reflecting its location and affordability, two factors which have attracted new home owners.”
“Median values on the Blackall Range and hinterland have generally risen with new residential land values of $217,500 in Mapleton and $124,000 in Kenilworth.”
Mr Bray said land valuations are used by councils as a guide to determine what to charge in rates, 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 Sunshine Coast Regional Council valuations follow the link below. Hard copies of the valuation list for the Sunshine Coast Regional Council can also be viewed at the the Department of Natural Resources, Mines and Energy, Level 1, Nambour Mill Village, 9-13 Mill Street, Nambour during normal business hours until close of business on 4 June 2019.
- The rural residential median land value has had a minor increase to $305,000 reflecting the good demand for coastal hinterland and Blackall Range properties.
- Multi-unit residential land values have had a minor increase overall, generally underpinned by rising residential land values along the coastal strip.
- Industrial land values have had a slight increase overall with minor changes in some better located areas while other areas were static. Commercial activity is steady across the region with value changes ranging from static to minor increases resulting in a slight increase in total land values.
- Rural land values have had a minor increase overall reflecting the demand for well-located hinterland farming properties suitable for cattle grazing, small crops and tree plantation enterprises.
Valuations were last issued in the Sunshine Coast Regional Council local government area in 2018.
Table 1 below provides information on median values for residential land within the Sunshine Coast Regional Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2017 ($)||New median value as at 1/10/2018 ($)||Change in median value (%)||Number of properties|
|Glass House Mountains||212,500||212,500||0.0||981|
|All residential localities||247,500||275,000||11.1||78,135|
* Does not include land valued as multi-unit or rural residential
Rural residential land
Table 2 below provides information on the median value for rural residential land within the Sunshine Coast Regional Council area.
Table 2 – Median value of rural residential land*
|Land Use||Previous median value as at 1/10/2017 ($)||New median value as at 1/10/2018 ($)||Change in median value (%)||Number of properties|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Sunshine Coast Regional Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2017 ($)||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