The Valuer-General’s 2017 land valuations have been released with the results indicating the South East Queensland’s property market is continuing to soar.
In particular, Brisbane’s south and western suburbs spiked, with 24 spots in the top 30 performing suburbs.
Gumdale, 14km east of Brisbane’s CBD recorded the highest increase within the Brisbane City Council boundary jumping 30.1 per cent with the median land value now worth $475,000.
This was closely followed by Wakerley, up 29.4 per cent, Seven Hills, up 25.5 per cent and Calamvale, which also increased by 23.4 per cent.
Brisbane's northside had slightly more conservative increases with Chermside rising by 20 per cent, Stafford Heights by 15.4 percent and Everton Park by 15.1 per cent.
There were 46 suburbs in Brisbane were valuations didn’t change at all.
Valuer-General Neil Bray said the valuations reflected land values on 1 October 2016 and showed Brisbane City Council area’s land values had increased by six per cent overall since the last valuation issued in 2016.
“Residential values have risen in 132 suburbs across Brisbane with the overall median value of residential land increasing from $390,000 to $430,000.”
Approximately 1.19 million landowners will receive their new land valuations over the coming days. The valuations, which are used for local government rating, state land tax and state land rental purposes, take affect on June 30.
Anyone wishing to object to their land valuations has until May 8.
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