Annual land valuations issued for Livingstone
Livingstone Shire values have decreased following the release of the 2020 annual land valuations today.
Valuer-General Neil Bray said the valuations reflected land values on 1 October 2019 and showed Livingstone Shire had decreased by 2.4 per cent overall since the last valuation in 2017.
"Land values have generally decreased since the last valuation, with some increases in some market sectors and localities," he said.
"Residential values have seen some slight to moderate increases and some minor to moderate decreases across a variety of urban localities within the shire. Commercial and industrial lands have generally decreased with some properties remaining static.
"The rural residential properties across the shire saw both increases and decreases in a number of different localities. Rural markets had minor increases on the back of strong rural property sales.
"Some localities such as Kinka Beach reflected moderate decreases in median values due to weaker demand, with the median value of residential land in Kinka Beach decreasing from $127,000 to $107,000."
- Urban values across Livingstone shire have shown smaller variable increases and decreases across most land use types. The inconsistent variations of increases and decreases for urban lands, indicates that the market may have reached the bottom of the real estate cycle.
- Rural properties in the Livingstone Shire have seen increases in value predominately due to the higher cattle prices which have been in place for a number of years now.
- Even through the recently experienced drought period, buying demand for grazing properties has remained strong, and with a limited supply of quality properties on the market, this has resulted in higher sale prices, now being reflected in higher valuations.
Landowners who believe their valuation was incorrect and can provide supporting information, can lodge their objection online or at the address shown at the top of their valuation notice by 5 May 2020.
For a more detailed breakdown of the Livingstone Shire valuations follow the link below. The valuation listing for Livingstone can also be viewed at the Yeppoon Town Hall, 25 Normanby Street, Yeppoon during normal business hours until close of business on 2 June 2020.
Valuations were last issued in the Livingstone Shire Council local government area in 2017.
Table 1 below provides information on median values for residential land within the Livingstone Shire Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2016 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
|All residential localities||129,000||128,000||-0.8||10,434|
* Does not include land valued as multi-unit or rural residential
Rural residential land
Table 2 below provides information on the median value for rural residential land within the Livingstone Shire Council area.
Table 2 – Median value of rural residential land*
|Land Use||Previous median value as at 1/10/2016 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
|Rural Residential||172,500||162,500||- 5.8||4355|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Livingstone Shire Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2016 ($)||New total land value as at 1/10/2019 ($)||Change in total land value (%)||Number of properties|
|Multi-unit Residential||82,464,000||77,639,500||- 5.9||273|
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Last updated 4 March 2020