Annual land valuations issued for Bundaberg
Demand for horticultural land suitable for small crops and tree crops has been identified as a key factor in the rise of Bundaberg land values as the 2020 annual land valuations were released today.
Valuer-General Neil Bray said the valuations reflected land values on 1 October 2019 and showed the Bundaberg region had increased by 5.4 per cent overall since the last valuation in 2017.
"While the overall land value has increased since the last valuation, there are some market sectors and localities where there has been no change in values," Mr Bray said.
"Residential values have generally remained steady in Bundaberg and most hinterland centres, while most commercial and industrial lands are generally static.
"The median residential value has had a slight increase to $117,000 reflecting the rising land values in some coastal centres.
"Median values in some coastal centres have risen, with Burnett Heads and Coral Cove having minor increases to $110,000 and $139,000 respectively.
"Rural residential lands experienced varied changes across the region with values around Bundaberg, Childers and coastal areas generally static, while some other areas have seen some minor to moderate increases and decreases as reflected by the local market evidence. The median land value of $104,000 has not changed as a result of the varied market evidence."
- Industrial, retail and other commercial sales activity has been static with the exception of the Bundaberg Industrial Estate and Kensington Park, which have experienced an increase in land values. As a result, the overall value of both commercial and industrial lands have increased slightly across the region.
- Multi-unit residential land values are showing a minor increase due to improving land values in seaside properties in Bargara.
- The overall rural land value has increased significantly since the last valuation due to a strong demand for both small and larger size properties. The ongoing demand for horticultural land suitable for small crops and tree crops has been a significant factor in the local market. Grazing lands have also increased with value changes reflective of attributes such as size and location.
Landowners who believe their valuation was incorrect and can provide supporting information, can lodge their objection online or at the address shown at the top of their valuation notice by 5 May 2020.
For a more detailed breakdown of the Bundaberg region valuations follow the link below. The valuation listing for Bundaberg can also be viewed at the Department of Natural Resources, Mines and Energy, 16-32 Enterprise Street, Bundaberg during normal business hours until close of business on 2 June 2020.
Valuations were last issued in the Bundaberg Regional Council local government area in 2017.
Table 1 below provides information on median values for residential land within the Bundaberg Regional Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2016 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
|Apple Tree Creek||49,000||49,000||0.0||249|
|Moore Park Beach||107,000||102,000||-4.7||1170|
|All residential localities||116,000||117,000||0.9||28,062|
* Does not include land valued as multi-unit or rural residential
Rural residential land
Table 2 below provides information on the median value for rural residential land within the Bundaberg Regional Council area.
Table 2 – Median value of rural residential land*
|Land Use||Previous median value as at 1/10/2016 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Bundaberg Regional Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2016 ($)||New total land value as at 1/10/2019 ($)||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 4 March 2020