Pacific Highway boosts Mid North Coast land values: NSW Valuer-General
The total land value for the North Coast region has increased over the 12 month period to 1 July 2016 by 8.4 percent from $54.29 billion to $58.84 billion, according to the latest report from the Valuer-General.
The Report on NSW Land Values at 1 July 2016 found that overall land values in the North Coast region showed a moderate increase. Exceptions to this trend were the LGAs of Kyogle (-0.1 percent) and Kempsey (0.4%) where land values were generally steady.
The continuing upgrade of the Pacific Highway along the Mid North Coast is influencing land values, with Port Macquarie (8.2 percent) and Nambucca Heads (5.4 percent) showing moderate increases. The largest increase in land values in the region was for residential properties, with an overall increase of 9.7 percent. The largest increases occurred in Ballina (13.8 percent), Tweed (11.5 percent), Lismore (12.5 percent) and Byron (10.5 percent).
Overall land values for commercial land increased by 6.5 percent. The largest increases occurred in the LGAs of Byron (11.7 percent) and Tweed (9.9 percent).
Total industrial land values for the region increased by 7.3 percent. The highest increases were recorded in Bellingen (17.8 percent), Nambucca (13.7 percent) and Byron (12.6 percent).
Rural land values for the region have shown a moderate increase of 5.2 percent. The largest increases occurred in Ballina (10.4 percent) following strong demand for rural lifestyle properties.
For more information including interactive online land value summaries for all LGAs and 14 regions covering the state go to www.valuergeneral.nsw.gov.au.
