It was the 5th highest rise in rural land values in Qld


OVERALL rural land values in Gympie region have climbed 20 per cent since the last valuation, to reach a total value of more than $589 million.

CLICK HERE: Parts of the Gympie region have experienced land value increases of more than 70%

It was the fifth highest rise in rural land values in the state, according to the most recent release of valuation notices for 16,970 properties throughout rural Queensland.

Parts of the Gympie region that were valued were: Amamoor, Araluen, Brooloo, Cinnabar, Cooloola Cove, Dagun, Goomeri, Gunalda, Gympie, Imbil, Jones Hill, Kandanga, Kilkivan, Kinbombi, Monkland, Neerdie, Rainbow Beach, Southside, Tansey, Theebine, Tin Can Bay, Traveston, Victory Heights and Woolooga.

Table of rural land value changes throughout Queensland

Table of rural land value changes throughout Queensland

The biggest jump in rural land values in Queensland occurred in Somerset Regional Council, followed by Etheridge, the Sunshine Coast and Cairns.

Valuation notices outlining updated land valuations have today been issued for 16,970 properties throughout rural Queensland

Queensland’s Valuer-General Neil Bray said the valuations reflected up to date and current rural land values. 

“Confidence in the State’s rural economy has been reflected in an increase in the majority of the State’s rural land values. 

Median value of residential land in parts of Gympie region

Median value of residential land in parts of Gympie region

“This increase in rural land values can be attributed to the continued effects of strengthened beef prices and low interest rates, which have generally resulted in increases in Queensland’s rural property markets. 

“There were significant increases in rural land sales across the local authorities of Etheridge and Western Downs. The Tara rural market of Western Downs has experienced significant reductions over a number of years due to the impact of the Global Financial Crisis. The market has now rebounded with significant market movements, consistent with similar movements in the neighbouring local government areas of Goondiwindi and Maranoa. 

“A market based review of rural valuations within Longreach and Moreton Bay regional councils was also undertaken to improve the consistency of land valuations across different rural locations. 

For the 2019 valuation, the local government areas with a large rural component are Burdekin, Cairns, Etheridge, Gympie, Lockyer Valley, Longreach, Moreton Bay, Noosa, North Burnett, Somerset, South Burnett, Sunshine Coast, and Western Downs. 

Overall rural land values in Gympie region have climbed 20 per cent since the last valuation, to reach a total value of more than $589 million - it is the fifth strongest rural land surge in the state.

Overall rural land values in Gympie region have climbed 20 per cent since the last valuation, to reach a total value of more than $589 million – it is the fifth strongest rural land surge in the state. Monique Woolley

Mr Bray said land valuations are used by councils as a guide to determine what to charge in rates, and for state land tax and state land rental amounts. 

“These valuations will become effective 30 June, however I encourage landowners who believe they have additional or new evidence which may alter their new valuation to provide this information through the online objections process via www.qld.gov.au/landvaluation or at the address shown at the top of their valuation notice by 7 May 2019,” Mr Bray said. 

“Landowners without internet access can get an objection kit that includes a step-by-step guide by phoning 1300 664 217. 

“It is important to note that sales of rural land purchased by resource companies for the purpose of mining or other extractive industries are not used to determine statutory land values of rural land.” 

The new land valuation data for 2019 can be accessed online at www.qld.gov.au/landvaluation. 

Queensland Globe also gives landowners access to detailed valuation information allowing users to search for a property or pan the map to areas of interest and zoom down to individual property level. Landowners can access the Queensland Globe year round on the Land Valuations website www.qld.gov.au/landvaluation. 

A rural sales map for larger rural shires is also available online and at selected locations to assist landowners – allowing landowners to compare their valuations with others in their area. 

Hard copies of the valuation list can be viewed at Department of Natural Resources, Mines and Energy business centres and local government offices during normal business hours until 4 June 2019. 

Table 1: Total values of rural primary production land by local government area

Queensland’s Valuer-General Neil Bray said over one million landowners across the state would today receive new land valuations, influenced by a number of different factors. 

“In the past 12 months, the Queensland property market has generally improved in all the major urban centres in South East Queensland, as well as in farming areas in regional Queensland.” Mr Bray said. 

Mr Bray said the improvement in land values is in contrast to the decline in sales volume over the same period. 

“The volume of property lodgements recorded with the Registrar of Titles decreased over the first half of the 2018-19 financial year with an average of 2747 daily lodgements-down six per cent from the previous financial year. 

“The continued growth in population through interstate migration, improving tourism numbers and low borrowing costs were still all positive contributors to the property sector in Queensland. 

Mr Bray said residential values in the Greater Brisbane, South East Queensland and Cairns areas generally experienced minor to moderate growth, however there was decline in some urban centres in regional Queensland. 

“Centres such as Chinchilla and Miles in the Western Downs region are still experiencing a reduction in values from the peak prices paid during the exploration stages of the coal seam gas industry,” Mr Bray said. 

“There is generally an improved confidence surrounding the rural property market in Queensland although the majority of the State remains drought declared. 

“Drivers in the rural sector are the continuing good commodity prices within the beef industry as well as the low interest environment. 

“As a result, moderate increases in rural land values have occurred throughout the majority of the State with minor increases to lands in South East Queensland. 

The 18 areas include Brisbane, Burdekin, Cairns, Etheridge, Gympie, Ipswich, Lockyer Valley, Logan, Longreach, Moreton Bay, Noosa, North Burnett, Redland, Somerset, South Burnett, Sunshine Coast, Weipa and Western Downs,” Mr Bray said. 

Mr Bray said land valuations are used by councils as a guide to determine what to charge in rates, and for state land tax and state land rental amounts. 

“These valuations will become effective 30 June, however I encourage landowners who believe they have additional or new evidence which may alter their new valuation to provide this information through the online objections process via www.qld.gov.au/landvaluation or at the address shown at the top of their valuation notice by 7 May 2019,” Mr Bray said. 

Overall rural land values in Gympie region have climbed 20 per cent since the last valuation, to reach a total value of more than $589 million - it is the fifth strongest rural land surge in the state.

Overall rural land values in Gympie region have climbed 20 per cent since the last valuation, to reach a total value of more than $589 million – it is the fifth strongest rural land surge in the state. Contributed

“Landowners without internet access can get an objection kit that includes a step-by-step guide by phoning 1300 664 217. 

“It is important to note that some areas of the state have not been re-valued in 2019 due to the market information indicating no major variation in land values since the previous valuation period. Local governments and key industry stakeholders were also consulted.” 

“In areas where new valuations have not been issued, the most recent annual valuation will remain effective for rating, land tax and state land rental purposes until the next valuation is undertaken. 

The new land valuation data for 2019 can be accessed online at www.qld.gov.au/landvaluation. 

Queensland Globe gives landowners access to more detailed valuation information allowing users to search for a property or pan the map to areas of interest and zoom down to individual property level. Landowners can access the Queensland Globe year round on the Land Valuations website www.qld.gov.au/landvaluation.

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