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2021 Land Valuations Overview Murweh

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2021 Land Valuations Overview Murweh Land valuations overview: Murweh Shire Council On 31 March 2021, the Valuer-General released land valuations for 2,358 properties with a total value of $508,701,560 in the Murweh Shire Council area. The valuations reflect land values at 1 October 2020 and show that Murweh Shire has increased by 75 per cent overall since the last valuation in 2018. Rural land values have increased significantly due to the strength in beef commodity prices as well as a low interest rate environment. Due to the decline in western towns and the effects of a prolonged drought, residential values in Charleville have experienced moderate to significant reductions. Inspect the land valuation display listing View the valuation display listing for Murweh Shire Council online at www.qld.gov.au/landvaluation or visit the Department of Resources, Hood Street, Charleville. Detailed valuation data for Murweh Regional Council Valuations were last issued in the Murweh Shire Council area in 2018. Property land use by total new value Residential land Table 1 below provides information on median values for residential land within the Murweh Shire Council area. Table 1 - Median value of residential land Residential Previous New median Change in Number of localities median value value as at median value properties as at 01/10/2020 (%) 01/10/2017 ($) ($) Augathella 4,700 4,700 0.0 166 Bakers Bend 200 200 0.0 1 Charleville 12,200 9,800 -19.7 1,296 Cooladdi 3,000 3,000 0.0 2 Langlo 750 750 0.0 2 Morven 11,200 13,500 20.5 96 All residential 12,000 9,600 -20.0 1,563 localities Explanatory Notes: The town of Charleville has generally experienced moderate reductions in residential lands. The median residential value in Charleville has reduced from $12,200 to $9,800. Varied changes have been recorded within the town of Morven. Rural residential land Table 2 below provides information on median values for rural residential land within the Murweh Shire Council area. Table 2 - Median value of rural residential land Land Use Previous New median Change in Number of median value value as at median value properties as at 01/10/2020 (%) 01/10/2017 ($) ($) Rural 27,000 38,000 40.7 293 residential Explanatory Notes: Sales of rural residential lands at Charleville showed a significant increase since the last revaluation in 2018. Murweh Shire Council 2 Other land uses Table 3 below provides information on total land uses other than residential and rural residential land within the Murweh Shire Council area. Table 3 - Total land values of other land uses Land use Previous total New total land Change in total Number of category land value as value as at land value (%) properties at 01/10/2017 01/10/2020 ($) ($) Commercial 4,892,500 5,018,700 2.6 113 Industrial 1,942,600 1,899,500 -2.2 62 Primary 254,922,290 472,634,100 85.4 264 Production Other 510,100 561,660 10.1 63 Explanatory Notes: Commercial and industrial land values in Charleville have generally remained unchanged. Rural land values in the Murweh Shire have risen on the back of landowners’ confidence in the rural sector. There has been significant increases in value across all rural country types. Continued strong livestock 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. Murweh Shire Council 3 .
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