Land values: Have they risen in your region?
QUEENSLAND'S regional and rural property markets are making a comeback with new land valuations released today revealing jumps of more than a third in a single year in some of the state's most remote areas.
Overall land values in the rural local government area of Maranoa, in the state's southwest, jumped by nearly 42 per cent, based on a median value of $58,000, according to the results of the latest assessment of land values by the Office of the Valuer General.
There were also good improvements in the Goondiwindi local government area, with land values rising nearly 26 per cent in the past 12 months, and a 21.8 per cent increase in values in Quilpie.
Three LGAs recorded drops in land valuations - Paroo, Gladstone and Hinchinbrook.
Twenty-two LGAs have received new valuations this year, but surprisingly, the state's biggest LGA - Brisbane - wasn't included.
The overall land valuation figures include all property types, including residential, rural, commercial and industrial.
Queensland's Valuer-General Neil Bray said land values had improved in a number of major urban and farming areas across the state in the past 12 months.
"These increases are owed to a robust tourism industry and increased migration in several coastal centres as well as our strong agricultural industry, particularly in the cattle and sheep grazing regions across central Queensland," Mr Bray said.
"Overall, rural land values have increased throughout the state - a great indicator of market confidence in Queensland's rural and regional areas."
Mermaid Beach, Burleigh Waters, Burleigh Heads, Elanora, Currumbin Waters and Tugun experienced the strongest growth in residential land values on the Gold Coast.
On the Sunshine Coast, land values have increased moderately in the more affordable, smaller towns along the North Coast railway line such as Yandina, Nambour and Landsborough.
Prestige property values have also improved with minor increases in beachfront lands as
well as for canal frontage properties in Noosa and Pelican Waters, according to the report.
In the Scenic Rim, residential land values increased significantly in Tamborine Mountain and Canungra.
Some LGAs associated with the resources industry did not fare well, particularly Isaac and Gladstone.
The valuations, which are used for local government rating, state land tax and state land rental purposes, take affect on June 30.