2021 Land Valuations Overview Western Downs

Land valuations overview: Western Downs Regional Council On 31 March 2021, the Valuer-General released land valuations for 17,760 properties with a total value of $4,403,967,344 in the Western Downs Regional Council area. The valuations reflect land values at 1 October 2020 and show that Western Downs region has increased by 21.6 per cent overall since the last valuation in 2019. Rural land values have generally increased moderately, except for around Wandoan where there have been significant increases, due to the strength in beef commodity prices as well as a low interest rate environment. Residential land values in the townships of Dalby and Miles have generally remained unchanged, with moderate increases in Chinchilla, and moderate reductions within the towns of Tara and Wandoan. Commercial and industrial lands generally remain unchanged, except for some isolated changes along the Warrego Highway in Dalby. Inspect the land valuation display listing View the valuation display listing for Western Downs Regional Council online at www.qld.gov.au/landvaluation or visit the Department of Resources, 30 Nicholson Street, Dalby. Detailed valuation data for Western Downs Regional Council Valuations were last issued in the Western Downs Regional Council area in 2019. Property land use by total new value Residential land Table 1 below provides information on median values for residential land within the Western Downs Regional Council area. Table 1 - Median value of residential land Residential Previous New median Change in Number of localities median value value as at median value properties as at 01/10/2020 (%) 01/10/2018 ($) ($) Bell 33,000 33,000 0.0 150 Blaxland 19,000 19,000 0.0 1 Brigalow 18,000 18,000 0.0 35 Chinchilla 21,500 26,000 20.9 2,199 Condamine 27,250 23,250 -14.7 32 Cooranga 3,400 3,400 0.0 1 Dalby 60,000 60,000 0.0 3,603 Drillham 7,700 7,700 0.0 4 Ducklo 19,000 19,000 0.0 1 Dulacca 10,600 10,600 0.0 41 Flinton 7,500 7,500 0.0 11 Glenmorgan 11,300 11,300 0.0 22 Grosmont 2,250 2,250 0.0 2 Guluguba 6,300 6,300 0.0 3 Gurulmundi 3,000 3,000 0.0 1 Jandowae 18,000 18,000 0.0 427 Jimbour East 16,600 16,600 0.0 15 Jimbour West 27,500 27,500 0.0 1 Kaimkillenbun 16,200 16,200 0.0 53 Kogan 18,000 18,000 0.0 36 Kumbarilla 3,200 3,200 0.0 1 Macalister 23,000 23,000 0.0 13 Meandarra 9,000 9,000 0.0 83 Miles 20,000 20,000 0.0 667 Montrose 5,000 5,000 0.0 1 Moola 22,000 22,000 0.0 3 Moonie 6,800 6,800 0.0 17 Mowbullan 86,500 86,500 0.0 64 Pirrinuan 4,400 4,400 0.0 1 Tara 23,000 19,600 -14.8 317 The Gums 6,095 6,095 0.0 2 Wandoan 13,000 10,400 -20.0 238 Warra 13,000 13,000 0.0 79 Westmar 9,500 9,500 0.0 1 All residential 26,000 29,000 11.5 8,125 localities Western Downs Regional Council 2 Explanatory Notes: Residential land values in the townships of Dalby and Miles, have generally remained unchanged at a median value of $60,000 and $20,000 respectively. Chinchilla has experienced a moderate increase since the revaluation in 2019, with a median residential value increasing from $21,500 to $26,000. There was a moderate reduction in Tara, with median values reducing from $23,000 to $19,600. Wandoan’s residential values reduced moderately from $13,000 to $10,400. All other small towns remain unchanged, except for the town of Condamine experiencing a minor reduction, with median values reducing from $27,250 to $23,250. Rural residential land Table 2 below provides information on median values for rural residential land within the Western Downs Regional Council area. Table 2 - Median value of rural residential land Land Use Previous New median Change in Number of median value value as at median value properties as at 01/10/2020 (%) 01/10/2018 ($) ($) Rural 54,500 55,000 0.9 5,142 residential Explanatory Notes: Rural residential land values throughout Western Downs region remains unchanged except for a minor increase within and around the town of Chinchilla. Other land uses Table 3 below provides information on total land uses other than residential and rural residential land within the Western Downs Regional Council area. Table 3 - Total land values of other land uses Land use Previous total New total land Change in total Number of category land value as value as at land value (%) properties at 01/10/2018 01/10/2020 ($) ($) Multi-Unit 19,461,200 19,469,400 0.0 244 Residential Commercial 95,950,300 99,262,100 3.5 533 Industrial 76,271,399 88,070,239 15.5 511 Primary 2,725,142,000 3,472,384,000 27.4 3,042 Production Other 55,579,704 61,740,895 11.1 163 Western Downs Regional Council 3 Explanatory Notes: Multi-unit residential land values in the Western Downs region remain unchanged. Industrial land values in Western Downs region have generally remained unchanged, with the exception of sites along the Warrego Highway at Dalby, which experienced variable increases. Commercial land values throughout Western Downs Regional Council have generally remained unchanged with overall value only increasing slightly. Rural land values in the Western Downs Regional Council have continued to grow on the back of landowners’ confidence in the rural sector. Generally, across the rural areas of Western Downs region there has been a moderate increase, except for around Wandoan where there have been some significant increases. Continued strong beef and commodity prices, confidence in the rural sector and historically low interest rates have resulted in increases in value for grazing and broad- acre lands in rural Queensland. The increase in rural property values is despite ongoing drought declarations in many parts of the State. Western Downs Regional Council 4 .

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