THERE has been little growth in coastal residential values according to the NSW Valuer General.
New land valuation notices are currently being mailed to approximately 877,000 ratepayers in 48 local government areas across NSW - including the Shoalhaven.
The valuations are one of the factors councils will use to determine each landowner's rating liability.
NSW Valuer General Philip Western said overall land values for the whole of NSW had increased 1.7 per cent in the 12 months to June 30, 11.
This was significantly down on the 5.4 increase for the 12 months to June 30, 2010.
The greatest increases tended to be within regional NSW with Coonamble (28.04 per cent), Walgett (18.3 per cent), Warren (14.37 per cent) and Brewarrina showing the greatest increases.
The total residential land value for NSW increased by 2.10 per cent to June 30, 2011 - down from 6.88 per cent the previous year.
Coastal locations, Mr Western said, in a continuing trend from the previous 12 months, showed limited or no growth in residential median land values for the 12 month period.
Exceptions included Lake Macquarie (3.7 per cent), Bellingen (3.1 per cent), Kiama (2.8 per cent) and Port-Macquarie Hastings (1.7 per cent), which showed the largest increases.
The largest decreases were in Tweed (-3.0 per cent) and Bega Valley (-2.30 per cent).
Regional centres showing the highest residential median land values were Queanbeyan ($265,000), the Blue Mountains ($220,000), Wollondilly ($208,000) and Wingecarribee ($202,000).
The value of business land increased overall by 2.14 per cent on a state-wide basis while industrial-zoned land valued increased marginally by 0.07 per cent.
The total rural land for NSW increased overall by 0.71 per cent.
Mr Western said the while the total land value of the Shoalhaven LGA had decreased from $13.977 billion (as at July 1, 2008) to $13.512 billion, land values in the Shoalhaven had remained steady since landowners were last issued with Notices of Valuation.
Landowners wanting to know more about their land value or the land valuation system can call toll free on 1800 110 038 or visit the Land and Property Information website at www.lpi.nsw.gov.au/valuation
TYPICAL VALUES:
- 683 square metres of residential land in Martin Avenue, Ulladulla: $182,000
- 821 square metres of commercial land in Boree Street, Ulladulla: $391,000
- 4,330 square metres of industrial land in Aroo Road, Ulladulla: $284,000
- 40 hectares of rural land in Croobyar Road, Croobyar: $760,000; 58.6 hectares in Jack Reid Road, Termeil: $500,000
- 2 hectares of rural residential land in Pointer Road, Yatte Yattah: $327,000
- 16.2 hectares of hobby farm land on the Princes Highway, Termeil: $418,000
- 613 square metres of village land in Edwin Avenue, Lake Conjola: $799,000; 607 square metres in Surf Tide Avenue, Bawley Point: $270,000; 699 square metres in Torquay Drive, Lake Tabourie: $140,000
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