New land values for NSW released
The NSW Valuer General today released the land values for every parcel of land across NSW. The land values are for the value of the land only, as at 1 July 2018.
Acting Valuer General Michael Parker said the land values are made by independent contract valuers following the analysis of over 46,000 sales. The valuations are then quality assured by valuers from Property NSW.
Overall, land values increased in all categories across NSW, with total residential land values increasing by 4.4%.
Mr Parker said land values in the Sydney metropolitan area increased slightly overall after several years of strong increases.
Residential land values in the Sydney Central region recorded an increase of 2.1%, the Sydney East region increased by 3.2% and the Sydney West region had a 3.8% increase. Decreases were recorded in the local government areas of Ku-Ring-Gai (-3.5%) and Georges River (-3.3%).
Rural land values increased overall by 14.3% due to continued demand and firm commodity prices. Most locations recorded strong increases despite the continuing dry conditions.
Industrial land values showed the strongest overall increase (17.5%) driven by factors including proximity to infrastructure and the support of local industrial activities. Strong increases were recorded in the local government areas of Blacktown (33.1%), Bathurst Regional (28.4%), Central Coast (22.2%) and Cumberland (53.9%).
The land values reflect the property market at 1 July 2018. Land values do not include the value of a home or other structures.
Mr Parker encouraged the public to visit valuergeneral.nsw.gov.au or call Property NSW on 1800 110 038 for more information on land values and the valuation system.
“The latest land values for all properties in NSW are available on our website along with information on trends, medians and typical land values for each local government area,” Mr Parker said.
For more information visit valuergeneral.nsw.gov.au or call 1800 110 038.