Coast enjoys jump in land values

THE latest land valuations for properties in Noosa, the Sunshine Coast, and 20 other local government areas in the state, have just been released.
It will come as no surprise to locals that land values in Noosa have jumped by 11.3 per cent since the last valuation in 2016, the largest increase among coastal council areas assessed.
Sunshine Coast land values have increased by 10.4 per cent, well above the state-wide average of 8.8 per cent.
The newly-released 2018 Property Market Movement Report reveals infrastructure construction, strong tourism activity and continued demand for coastal living have driven the local growth in value.
The greatest demand centred around mid-priced coastal properties and those in smaller towns along the North Coast rail line, like Yandina, Nambour and Landsborough, which offer a more affordable option for buyers.
Prestige property values have also improved, with minor increases in beachfront land as well as for canal-front properties in Noosa.
Queensland’s Valuer-General Neil Bray said increased values were a trend that continued over much of the state.
“These increases are owed to a robust tourism industry and increased migration in several coastal centres as well as our strong agricultural industry – particularly in the cattle and sheep grazing regions across Central Queensland,” he said.
“Overall, rural land values have increased throughout the state – a great indicator of market confidence in Queensland’s rural and regional areas.”
The median value for residential land in Noosa is now $270,000, up 13.7 per cent from 2016, and $202,500 for rural residential land, up by 8 per cent.
Queensland’s Valuer-General is tasked with issuing land valuations used to determine council rates, state land tax and rental pricing for leasehold land.
New land valuations were made available on 7 March.