A fair rate of return

Southern Downs land values have shown modest but positive growth over the last 12 months.

By Jeremy Sollars

Land values in the Southern Downs Regional Council area have risen by a modest 2.8 per cent over the last 12 months, according to the Queensland Valuer-General’s latest report.
The ‘Property Market Movement Report’ comes ahead of the issuing of the 2017 State Government annual statutory land valuations, this Wednesday 8 March, with the valuations forming the basis of council rates calculations.
The Croydon Shire in far north Queensland recorded the highest growth in land valuations of 72.3 per cent year-on-year, while the other end of the scale reflected the decline of the Queensland mining boom, with the Gladstone Regional Council area’s land values slumping 20.6 per cent.
The percentage changes are an overall figure reflecting changes in all land types, including rural and residential.
Queensland Valuer-General Neil Bray said the current state of the resource sector had seen moderate to significant decreases in overall land values in affected areas, notably the Surat Basin, Gladstone and some areas within Central Queensland.
“Generally, across Queensland, increased sales activity in rural markets resulted in rising land values within the grazing, horticultural, small crop and dryland farming industries,” he said.
Southern Downs Regional Council rates notices will be issued in the first week of July, after adoption of the 2017/18 budget scheduled for adoption by councillors on 14 June.
The Valuer-General’s 2017 Property Market Movement Report is available online at www.qld.gov.au/landvaluation