Weipa sees increases in land values
Landowners in Weipa 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 Weipa Town Authority area had increased by as much as 11.3 per cent overall since its last valuation in 2016.
“Residential land values have risen in Weipa, while commercial and industrial lands have also increased,” Mr Bray said.
“Some areas like Rocky Point reflected minor increases in median values due to the high demand for land, with the median value of residential land in Rocky Point increasing from $152,500 to $175,000.”
Mr Bray said land valuations are used by councils as a guide to determine what to charge in rates, and for state land tax and state land rental amounts.
“These valuations will become effective 30 June, however I encourage landowners who believe they have additional or new evidence which may alter their new valuation to provide this information through the online objections process via www.qld.gov.au/landvaluation or at the address shown at the top of their valuation notice by 7 May 2019,” Mr Bray said.
For a more detailed breakdown of the Weipa Town Authority valuations follow the link below. Hard copies of the valuation list for the Weipa Town Authority can also be viewed at the the Weipa Town Office, 1 Hibberd Drive, Rocky Point, Weipa during normal business hours until close of business on 4 June 2019.
- The construction phase of the Amrun project has been completed and has allowed the Weipa property market to settle into a normal pattern.
- Demand for land has now normalised resulting in moderate increases in values for residential and industrial land, and a minor increase for commercial land overall.
- Multi-unit land has experienced a slight increase to the total level of value.
Valuations were last issued in the Weipa Town Authority local government area in 2016.
Table 1 below provides information on median values for residential land within the Weipa Town Authority area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2015 ($)||New median value as at 1/10/2018 ($)||Change in median value (%)||Number of properties|
|All residential localities||157,500||182,000||15.6||931|
* Does not include land valued as multi-unit or rural residential
Other land uses
Table 2 below provides information on total land values for land uses other than residential and rural residential land within the Weipa Town Authority area.
Table 2 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2015 ($)||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