Annual land valuations issued for Cloncurry
An oversupply of housing has been identified as a contributor in the reduction of Cloncurry Shire 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 Cloncurry Shire had decreased by 10.6 per cent overall since the last valuation in 2016.
"Land values have generally decreased since the last valuation, with some increases in some market sectors and localities," Mr Bray said.
"Residential values have had significant reductions in Cloncurry, while industrial and commercial lands have also had minor to moderate decreases in land value.
"The primary production market has seen a moderate increase in value since the last valuation was undertaken.
"Some localities such as Cloncurry reflected significant decreases in median values due to a lack of demand for vacant land parcels with the median value of residential land in Cloncurry decreasing from $60,000 to $25,000."
- An oversupply of housing released onto the Cloncurry market through an asset disposal program has placed downward pressure on sale prices, as vendors meet the market expectations. Added to that is the high cost of construction, which limits the ‘buy-build’ model and demand for vacant land.
- Rural land values have continued to grow on the back of land owners’ expectations that conditions in agriculture have and will continue to improve.
- Continued strength in beef commodity prices and low interest rates has resulted in increases in value for grazing lands in rural Queensland.
- North Queensland-Gulf grazing properties are considered to be value for money and demand exists from both farming family enterprises looking to expand; purchases seeking grass and fodder; and corporate purchasers who now see these properties as agribusiness investments.
- Demand is increasing for low cost breeding country to facilitate herd build up and turnoff options for adult cattle. When compared to prices paid in other parts of the state, the Northern Downs, North West Highlands, and Gulf grazing lands are being increasingly seen as an attractive proposition.
Landowners who believe their valuation was incorrect and can provide supporting information, can lodge their objection online or at the address shown at the top of their valuation notice by 5 May 2020.
For a more detailed breakdown of the Cloncurry Shire valuations follow the link below. The valuation listing for Cloncurry can also be viewed at the Cloncurry Shire Council office, 38-46 Daintree Street, Cloncurry during normal business hours until close of business on 2 June 2020.
Valuations were last issued in the Cloncurry Shire Council local government area in 2016.
Table 1 below provides information on median values for residential land within the Cloncurry Shire Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2015 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
|All residential localities||60,000||25,000||-58.3||823|
* Does not include land valued as multi-unit or rural residential
Rural residential land
Table 2 below provides information on the median value for rural residential land within the Cloncurry Shire Council area.
Table 2 – Median value of rural residential land*
|Land Use||Previous median value as at 1/10/2015 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Cloncurry Shire Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2015 ($)||New total land value as at 1/10/2019 ($)||Change in total land value (%)||Number of properties|
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Last updated 4 March 2020