Claudia Baxter

Regional land values bruised as Brisbane booms

LAND values across regional Queensland are either coasting along a plateau or are beginning to slide, while Brisbane land prices march onward and upward.

Much of the state is still being bruised by the wounded resources sector, with Mackay, Blackwater, Gladstone, Roma and Miles facing lower land values.

The latest figures come from the Department of Natural Resources' latest yearly land valuations.

CHECK OUT THE LATEST LAND VALUATIONS HERE

Throughout the state the best performing suburb was Thornborough in Mareeba where land values increased by a whopping 466.7 per cent to $10,200 from a very low base of $1800.

The worst performer was Roma where land values dropped 56 per cent to $66,000.

Many local government areas recorded no increases in land values, particularly those associated with the resources sector including Mackay, Livingstone and Rockhampton.

Valuations were released for 28 Queensland local government areas.

Read more at Realestate.com.au

Valuer-General Neil Bray said about 1.19 million landowners would receive new land valuations in the coming days.

The valuations, which are used for local government rating, state land tax and state land rental purposes, take affect on June 30.

Mr Bray said that, in the past 12 months, the Queensland property market had generally improved in the major urban centres as well as some of the farming areas in regional Queensland.

Value increases in Moreton Bay, Ipswich and Logan were "minor to moderate'' he said.

Anyone wishing to object to their land valuations has until May 8.

Mr Bray said the results in the rural market reflected the "improved confidence'' in those areas.

"Continued high commodity prices within the beef industry and continued low interest rates are driving this confidence, even though the majority of the state remains drought declared," he said.

"Increases in rural values are generally occurring throughout the majority of local authorities being revalued across Queensland with sales across Croydon and Carpentaria shires and Balonne Shire Council having generally shown significant increases.''

Meanwhile in Brisbane, some suburbs' value had increased by a third in just 12 months.

The best results were recorded in the outer suburbs, with Gumdale, 14km east of the CBD, leading the charge.

It chalked up the biggest increase in value for the Brisbane area of 30.1 per cent with its median land value now $475,000.

It was followed by nearby Wakerley where values went up by 29.4%


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