Property Victoria
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DEPARTMENT OF SUSTAINABILITY AND ENVIRONMENT Property Victoria January 2003 edition 02 Melbourne’s commercial property up $3.4 in this edition billion 01 he heart of Victoria's commercial Apart from Melbourne, the other high melbourne commercial property up Tindustry jumped in value by $3.4 performing major municipality was billion over the past two years. Glen Eira, reporting a 57.5% growth $3.4 billion in the value of its combined Melbourne’s commercial property jumps in value Commercial property in the City of commercial and industrial property. Melbourne is now valued at $15.8 billion compared with $12.4 billion in Commercial and industrial property in kingston leads industrial value 2000. Victoria is worth $86.7 billion Victoria’s top industrial municipality goes further according to Revaluation 2002 ahead This 27% increase - according to figures. But that is only a fraction of Municipal Revaluation 2002 reports the total value of the state’s property 02 submitted to the Valuer-General which was worth $557 billion. Victoria - shows that commercial commercial and industrial values property is the City of Melbourne's 2002 compared to 2000 fastest growing property type. shifts in value across the state The statewide increase in commercial (by municipality) compared to last revaluation property (Capital Improved Value CIV) reported under Revaluation 2002 was 03 - 04 20.2% compared with the overall statewide property CIV increase of commercial and industrial % 26.7%. changes to CIV graphs illustrating % changes across the state Top 5 commercial property by Top 5 commercial and industrial (by municipality) compared to last revaluation municipality by municipality 05 1. Melbourne $15.8b (up 27%) 1. Stonnington* $ 4.3b (up 30.1%) how our dream homes compare 2. Port Phillip $ 3.1b (up 17.4%) 2. Darebin* $ 1.9b (up 5.1%) the varying prices of buying a three-bedroom brick 3. Boroondara $ 2.9b (up 25%) 3. Brimbank* $ 1.8b (up 15.9%) veneer 4. Yarra $ 2.4b (up 28.2%) 4. Glen Eira* $ 1.7b (up 57.5%) 5. Whitehorse $ 1.6b (up 32.2%) 5. Bayside* $ 1.6b (up 33.3%) how to subscribe / next edition * Breakdown of figures not provided. Property Victoria is produced by Land Victoria, a Kingston leads industrial values division of the Department of Sustainability & Environment. Land Victoria is the Victorian Government Industrial property value in Victoria is The municipality with the next organisation responsible for land management and highest in the City of Kingston - $2.6 highest industrial value - the City of information services and is committed to ensuring billion. Monash - is growing fast. Monash's land is managed in such a way to protect the industrial property this year was The value of Kingston's industrial environment as well as generating wealth and valued at $1.91 billion - up 20.8% property rose by 11.6% in the past growth in the state. from 2000. two years, on par with the state Property Victoria is produced using data from key average, according to the latest The City of Melbourne's industrial Land Victoria business areas to highlight areas of Revaluation 2002 figures. property grew by 17.3% to $1.31 property activity across Victoria. billion - lifting it past the City of Knox This growth far outstripped that in to have Victoria's sixth highest Victoria's next highest industrial industrial property value. municipality - Greater Dandenong's industrial property increased only The increase in industrial property 1.3% to $2.02 billion. reported in Revaluation 2002 was ISSN 1447-5324 11.5% compared with the overall Kingston and Greater Dandenong property increase of 26.7%. were the only municipalities to report industrial property worth more than $2 billion. 02 property victoria Commercial & industrial values 2002 compared to 2000 Municipality 2002 Commercial 2002 Industrial 2002 Total 2000 Commercial 2000 Industrial 2000 Total Change in Change in Total CIV commercial CIV Industrial CIV Change 1. Alpine, Shire * $122,386,100 $1,013,482,400 $102,016,045 $928,006,376 20.0% 9.2% 2. Ararat, City $38,345,300 $8,141,700 $837,397,500 $34,005,000 $7,569,700 $742,396,600 12.8% 7.6% 12.8% 3. Ballarat, City $595,273,500 $226,476,500 $5,400,001,000 $546,536,000 $215,501,580 $4,517,869,580 8.9% 5.1% 19.5% 4. Banyule, City $804,560,100 $333,042,000 $13,270,173,100 $680,274,400 $294,211,300 $10,179,048,700 18.3% 13.2% 30.4% 5. Bass Coast, Shire $164,984,000 $32,855,000 $3,701,707,080 $140,609,200 $26,823,500 $2,457,074,620 17.3% 22.5% 50.7% 6. Baw Baw, Shire $137,015,830 $54,215,000 $2,853,483,930 $131,046,990 $50,583,000 $2,681,431,130 4.6% 7.2% 6.4% 7. Bayside, City * $1,575,664,099 $19,789,485,209 $1,181,724,300 $14,958,543,300 33.3% 32.3% 8. Boroondara, City $2,902,781,300 $290,828,000 $33,637,850,500 $2,322,772,000 $227,342,000 $25,347,015,000 25.0% 27.9% 32.7% 9. Brimbank, City * $1,808,332,300 $12,022,808,100 $1,560,895,534 $8,356,116,534 15.9% 43.9% 10. Buloke, Shire $9,361,000 $8,263,750 $735,802,800 $8,068,360 $7,556,500 $643,405,160 16.0% 9.4% 14.4% 11. Campaspe, Shire $227,267,000 $170,734,700 $2,891,859,500 $205,647,300 $167,799,500 $2,714,843,830 10.5% 1.7% 6.5% 12. Cardinia, Shire $160,203,000 $83,436,000 $4,095,910,040 $130,256,200 $73,480,700 $3,248,767,000 23.0% 13.5% 26.1% 13. Casey, City $1,017,757,800 $468,911,700 $13,078,130,300 $921,839,500 $412,282,100 $10,674,993,690 10.4% 13.7% 22.5% 14. Central Goldfields, Shire $38,054,450 $32,618,500 $727,707,150 $35,216,200 $31,430,800 $667,348,361 8.1% 3.8% 9.0% 15. Colac-Otway, Shire $156,312,000 $25,131,000 $2,179,156,500 $132,483,340 $25,536,000 $1,810,215,940 18.0% -1.6% 20.4% 16. Corangamite, Shire $106,834,000 $41,209,500 $1,868,134,800 $97,503,000 $39,299,320 $1,713,881,700 9.6% 4.9% 9.0% 17. Darebin, City * $1,881,257,500 $14,915,913,000 $1,789,280,700 $10,890,203,300 5.1% 37.0% 18. Delatite, Shire $135,262,000 $55,170,200 $1,934,800,900 $117,908,000 $51,781,600 $1,726,488,800 14.7% 6.5% 12.1% 19. Docklands * $117,044,796 $258,458,796 $98,323,996 $223,341,996 19.0% 15.7% 20. East Gippsland, Shire $363,498,900 $2,912,740,920 $362,894,000 $2,836,310,020 0.2% 2.7% 21. Frankston, City $754,147,700 $369,233,200 $8,475,492,700 $658,981,943 $335,648,800 $6,564,134,373 14.4% 10.0% 29.1% 22. Gannawarra, Shire $37,423,500 $18,740,500 $862,602,500 $36,655,000 $18,248,000 $782,506,800 2.1% 2.7% 10.2% 23. Glen Eira, City * $1,652,856,120 $20,575,185,420 $1,049,684,403 $14,952,977,603 57.5% 37.6% 24. Glenelg, Shire $97,792,000 $486,177,000 $2,114,919,000 $84,010,281 $513,796,300 $2,070,561,635 16.4% -5.4% 2.1% 25. Golden Plains, Shire $18,162,000 $903,000 $1,105,435,000 $16,152,000 $908,000 $936,533,000 12.4% -0.6% 18.0% 26. Greater Bendigo, City $487,166,505 $145,037,100 $5,413,872,855 $468,624,950 $152,617,100 $4,943,318,250 4.0% -5.0% 9.5% 27. Greater Dandenong, City $1,024,320,770 $2,022,828,000 $10,042,670,370 $1,020,633,120 $1,996,677,000 $8,288,395,120 0.4% 1.3% 21.2% 28. Greater Geelong, City $1,194,158,200 $886,176,800 $15,495,124,600 $1,051,669,500 $883,289,316 $12,227,144,316 13.5% 0.3% 26.7% 29. Greater Shepparton, City $469,156,500 $229,011,000 $4,294,090,600 $429,115,800 $212,272,800 $3,871,201,700 9.3% 7.9% 10.9% 30. Hepburn, Shire $93,325,500 $4,969,000 $1,019,021,700 $82,723,800 $4,851,500 $950,290,400 12.8% 2.4% 7.2% 31. Hindmarsh, Shire $33,669,400 $18,882,900 $587,150,800 $33,242,400 $17,635,400 $537,095,800 1.3% 7.1% 9.3% 32. Hobsons Bay, City $415,283,000 $1,294,310,800 $10,407,842,800 $332,052,500 $1,186,292,500 $7,845,183,200 25.1% 9.1% 32.7% 33. Horsham, City $81,071,000 $40,801,000 $1,393,245,400 $75,913,000 $38,115,000 $1,217,028,600 6.8% 7.0% 14.5% 34. Hume, City $641,187,000 $1,626,755,000 $10,511,415,800 $544,784,000 $1,412,107,840 $8,735,163,480 17.7% 15.2% 20.3% 35. Indigo, Shire * $73,985,600 $1,066,391,200 $67,178,445 $952,133,681 10.1% 12.0% 36.