Queensland’s Valuer-General Neil Bray has released 2020’s land valuations for 21 of the state’s local government areas including Brisbane, the Gold Coast and Scenic Rim.
It’s no secret that 2019 was a challenging year in the real estate market, with Mr Bray attributing the generally static residential sector in SEQ to the slight decline in sales volume.
"The volume of property lodgements recorded with the Registrar of Titles decreased over the first half of the 2019–20 financial year with an average of 2673 daily lodgements—down two per cent from the previous financial year" he said.
"Although property sale transfers are down, continued population growth through interstate migration, and low borrowing costs were contributing positively to the property sector in Queensland.
"The analysis of residential sales data shows that Gold Coast land has increased by 4.8% over all since the last valuation.
"Some localities such as Clear Island Waters reflected moderate increases in median values due to greater demand for waterfront locations with the median value of residential land in Clear Island Waters increasing from $680,000 to $820,000."
Out of the Gold Coast’s 73 suburbs, 51 of them recorded an increase of at least two per cent, while 12 popular residential suburbs recorded an increase of 10% or greater.
The valuations, which are used for local government rating, state land tax and state land rental purposes, take effect on June 30. Objections can be submitted online until the 5th of May.
Stay ahead of the game and keep track of your LAND + HOUSE's value - even if you're not planning to sell, you may be able to redraw on the increased equity in your home for that dream renovation or holiday.
Download a free comparable report from Pricefinder here or for a personalised property appraisal, fill in the form below and your local sales specialist will be in touch to organise a time and date to conduct an obligation-free property appraisal.