Land value increases right across South East Queensland

Landowners across South East Queensland are in a better position than what they were two to three years ago when land valuations last took place as land values have since increased. The state’s valuation service considered extensive land sales and undertook economic analysis to determine the new valuations. Queensland’s Valuer-General Neil Bray said the valuations reflected up to date and current land values.

In the Redlands, residential locations with a high increase in median value included Alexandra Hills at 23.4 per cent, Point Lookout at 19.5 per cent, Victoria Point at 16.4 per cent and Redland Bay at 12.7 per cent.

Moreton Bay experienced exceptional growth in some areas particularly, including Samford Village at 35.5 per cent, Bellara at 30.8 per cent, Woodford at 30.2 per cent, White Patch at 25.6 per cent, Beachmere at 20.6 per cent, Bongaree at 18.9 per cent, and Banksia Beach and Burpengary East both at 16.0 per cent

The median price in Kingston and Logan Central increased by 33.3 per cent. Other areas with high median increase include Slacks Creek at 29.7 per cent, Yarrabilba at 25.0 per cent, Cornubia and Daisy Hill both at 17.5 per cent and Underwood at 17.2 per cent.

In the Ipswich region, South Ripley and Ripley increased 20.6 per cent and 18.3 percent respectively. Majority of other suburbs within the region increased around the 5 per cent and 10 per cent mark.

Land value increase in Brisbane overall is very promising. Areas with quite large increases include Rocklea at 31.0 per cent, Woolloongabba at 26.1 per cent, Richlands at 21.7 per cent, Jindalee at 20.7 per cent, Kenmore at 19.8 per cent and Paddington at 19.4 per cent.

Overall, for landowners in South East Queensland, this is music to their ears.

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

The new valuations will take effect on June 30.