Annual land valuations issued for Torres
Torres Shire values have increased 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 Torres Shire had increased by 8.1 per cent overall since the last valuation in 2015.
"Land values have generally increased since the last valuation," he said.
"Residential values have risen in Thursday Island, while commercial and industrial land have also increased in value.
"The rural residential markets have increased in value over the five year period since the last Annual valuation was undertaken.
"Some localities such as Wasaga reflected minor increases in median values due to a demand for vacant land stock with the median value of residential land in Wasaga increasing from $133,000 to $146,000."
- The presence of core state and federal government services continue to underpin the region.
- Stable economic conditions have given rise to a stable property market.
Landowners who believe their valuation was incorrect and can provide supporting information, can lodge their objection online or at the address shown at the top of their valuation notice by 5 May 2020.
For a more detailed breakdown of the Torres Shire valuations follow the link below. The valuation listing for Torres can also be viewed at the Torres Shire Council office, 68 Douglas Street,Thursday Island during normal business hours until close of business on 2 June 2020.
Valuations were last issued in the Torres Shire Council local government area in 2015.
Table 1 below provides information on median values for residential land within the Torres Shire Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2014 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
|Prince Of Wales||81,000||85,000||4.9||27|
|All Residential Localities||190,000||210,000||10.5||503|
* Does not include land valued as multi-unit or rural residential
Rural residential land
Table 2 below provides information on the median value for rural residential land within the Torres Shire Council area.
Table 2 – Median value of rural residential land*
|Land Use||Previous median value as at 1/10/2014 ($)||New median value as at 1/10/2019 ($)||Change in median value (%)||Number of properties|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Torres Shire Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2014 ($)||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