Annual land valuations issued for Fraser Coast
A strong demand for rural properties within the hinterland has been identified as a contributor to the rise of Fraser Coast Regional 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 Fraser Coast Regional had increased by 6.9 per cent overall since the last valuation in 2018.
"While the overall land value has increased since the last valuation, there are some market sectors and localities where there has been slight to no change in values," Mr Bray said.
"The major urban centre of Hervey Bay has experienced minor increases to esplanade and beachside properties, while most other residential areas are generally static.
"Residential, commercial and industrial values in Maryborough and most hinterland centres have generally remained static.
"The median residential value has had a minor increase to $136,000 reflecting the rising land values in some areas of Hervey Bay and in the smaller coastal centres.
"Median values in most coastal centres have increased with Toogoom having a minor rise to $129,000 while Burrum Heads has had a moderate increase to $139,000.
Rural residential lands experienced varied changes across the region with values rising around Hervey Bay and Maryborough while values in other areas were generally static. The improving market has resulted in a minor increase to the overall median value of $124,000 since the previous valuation in 2018.
- Retail and other commercial sales activity has been subdued across the region with most values remaining unchanged. As a result, the overall value of commercial land has only increased slightly across the region.
- Industrial lands have shown a slight decrease in the overall value due to a minor decrease in land values in the Dundowran industrial precinct. Most other areas in Hervey Bay and Maryborough are unchanged.
- Multi-unit residential land values generally mirror the changes to residential lands in the coastal centres with the overall land value showing a minor increase.
- The overall rural land value has increased significantly since the last valuation, reflecting the market evidence. There is a strong demand for both small and larger size properties both within the hinterland and those areas close to the coast and major urban centres.
Landowners who believe their valuation was incorrect and can provide supporting information, can lodge their objection online or at the address shown at the top of their valuation notice by 5 May 2020.
For a more detailed breakdown of the Fraser Coast regional valuations follow the link below. The valuation listing for Fraser Coast can also be viewed at the Department of Natural Resources, Mines and Energy, Station Chambers, 120 Lennox Street, Maryborough during normal business hours until close of business on 2 June 2020.
Valuations were last issued in the Fraser Coast Regional Council local government area in 2018.
Table 1 below provides information on median values for residential land within the Fraser Coast Regional Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2017 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
|Great Sandy Strait||187,500||207,500||10.7||5|
|All residential localities||129,000||136,000||5.4||35,268|
* Does not include land valued as multi-unit or rural residential
Rural residential land
Table 2 below provides information on the median value for rural residential land within the Fraser Coast Regional Council area.
Table 2 – Median value of rural residential land*
|Land Use||Previous median value as at 1/10/2017 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Fraser Coast Regional Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2017 ($)||New total land value as at 1/10/2019 ($)||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