Land valuations rise in Goondiwindi
Strength in beef commodity prices as well as a low interest rate environment, are key factors that have been identified in the rise of Goondiwindi region 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 Goondiwindi region had increased by 25 per cent overall since the last valuation.
"The increases since the last valuation, have generally been in the rural market sector, with urban lands remaining generally static except for the industrial and commercial sectors that experienced minor increases," Mr Bray said.
"Residential values have generally been stable in Goondiwindi, moderate reductions in Inglewood and Texas and a moderate increase in Yelarbon.
"The rural residential market is stable and certain rural markets have had significant increases."
- Rural land values have continued to grow on the back of land owners’ expectations that conditions in agriculture have and will continue to improve, despite the recent prolonged drought conditions.
- Continued strength in beef commodity prices and low interest rates has resulted in increases in value for grazing lands in Goondiwindi.
- Significant increases have occurred throughout the larger mixed brigalow farming and irrigated floodplains in the Goondiwindi locality and to the west within the North Talwood locality. Rural sales in the balance of the Goondiwindi Regional Council to the east, associated with smaller irrigation and mixed farms to large traprock lands are generally stable.
- A full market based review of industrial and commercial properties within the town of Goondiwindi has resulted in an overall minor increases in these market sectors.
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 Goondiwindi Regional Council valuations follow the link below. The valuation listing for Goondiwindi can also be viewed at the Department of Natural Resources, Mines and Energy, 42 Callandoon Street, Goondiwindi during normal business hours until close of business on 2 June 2020.
Valuations were last issued in the Goondiwindi Regional Council local government area in 2018.
Table 1 below provides information on median values for residential land within the Goondiwindi 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|
|All residential localities||75,000||75,000||0.0||2900|
* 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 Goondiwindi 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|
|Rural Residential||126,500||126,000||- 0.4||728|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Goondiwindi 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