Land valuations rise in Gold Coast
Demand for industrial land has been identified as a contributor to a rise in Gold Coast City 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 Gold Coast City had increased by 4.8 per cent overall since the last valuation in 2018.
"Residential values have seen a minor increase in Helensvale, while industrial land increased moderately," Mr Bray said.
"The rural lands increased significantly after a market review of values.
"Some localities such as Clear Island Waters reflected moderate increases in median values due to greater demand for waterfront locations with the median value of residential land in Clear Island Waters increasing from $680,000 to $820,000."
- Multi-unit residential values increased slightly overall, with some Surfers Paradise values decreasing due to exiting foreign land owners. However, values in southern locations, such as Coolangatta, increased due to ongoing local demand.
- Subdued investment balanced with increasing population and low interest rates resulted in static commercial land values since the last valuation.
- Demand for industrial land has been strong, leading to significant increases in industrial values across many parts of the city.
Landowners who believe their valuation was incorrect and can provide supporting information, can lodge their objection online or at the address shown at the top of their valuation notice by 5 May 2020.
For a more detailed breakdown of the Gold Coast valuations follow the link below. The valuation listing for the Gold Coast can also be viewed at the Department of Natural Resources, Mines and Energy, Level 1, AVC Building, 14 Edgewater Court, Robina during normal business hours until close of business on 2 June 2020.
Valuations were last issued in the Gold Coast City Council local government area in 2018.
Table 1 below provides information on median values for residential land within the Gold Coast City Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2017 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
|Clear Island Waters||680,000||820,000||20.6||1072|
|All residential localities||345,000||355,000||2.9||121,987|
* Does not include land valued as multi-unit or rural residential
Rural residential land
Table 2 below provides information on the median value for rural residential land within the Gold Coast City Council area.
Table 2 – Median value of rural residential land*
|Land Use||Previous median value as at 1/10/2017 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Gold Coast City Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2017 ($)||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 firstname.lastname@example.org
Last updated 4 March 2020