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31 January 2013 Land Values Issued for Palerang

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31 January 2013 Land Values Issued for Palerang 31 January 2013 Land Values issued for Palerang NSW Valuer General Philip Western today said landowners and rate paying lessees of approximately 7,803 properties in the Palerang local government area (LGA) have been issued with a Notice of Valuation showing the land value of their property based on property market conditions as at 1 July 2012. Mr Western said landowners and rate paying lessees are issued with a Notice of Valuation when new land values have been issued to their council to use in the determination of rates. “These land values are fixed for rating until new values are issued to council, which usually occurs every three to four years,” he said. “Landowners in Palerang LGA were last issued with a Notice of Valuation showing their property’s land value as at 1 July 2009. “The total land value of the Palerang LGA as at 1 July 2012 was approximately $2.44 billion. This is an overall increase from the total land value of $2.25 billion determined as at 1 July 2009,” Mr Western said. “Property sales are the most important factor considered by valuers when determining land values. “Real estate analysis in the Palerang LGA has been comprehensive during the course of the 2012 valuation program with 76 residential, 3 commercial and 94 rural sales analysed,” he said. Over the three year period since landowners in Palerang LGA were issued with Notices of Valuation the value of residential land in Bungendore generally showed a moderate increase, with the exception of blocks with the potential for subdivision, which showed a very strong increase in value. Land values in Braidwood showed a slight increase in value. The value of commercial land has shown a slight increase in value, while land in the small industrial precinct within Bungendore has shown a strong increase in value. Rural land values have generally remained steady, with properties some distance from Canberra showing a slight decrease in value. Rural residential and hobby farm land has generally shown a moderate increase in value. Properties located close to Canberra and Bungendore, however, have shown a strong increase in value, while those located further from Bungendore and Canberra have shown a slight increase. Land in the villages of Captains Flat and Mongarlowe showed a strong increase in value, while land values in Majors Creek showed a slight increase. Land in Araluen showed slight to moderate increases in value. “Typical residential land values as at 1 July 2012 were: • 1,012 square metres at Bunn Street, Braidwood valued at $120,000 • 689 square metres at Duncan Street, Braidwood valued at $140,000 • 4,796 square metres at John Dwyer Crescent, Bungendore valued at $307,000 • 1,011 square metres at Osborne Street, Bungendore valued at $252,000 • 1,150 square metres at Falconer Place, Bungendore valued at $230,000. “Typical commercial land values as at 1 July 2012 were: • 1,056 square metres at Wallace Street, Braidwood valued at $173,000 • 370 square metres at Wallace Street, Braidwood valued at $54,600 • 1,384 square metres at Ellendon Street, Bungendore valued at $299,000 • 765 square metres at Gibraltar Street, Bungendore valued at $250,000. “A typical industrial land value as at 1 July 2012 was: • 2,349 square metres at Ellendon Street, Bungendore valued at $292,000. “Typical rural land values as at 1 July 2012 were: • 293 hectares at Taylors Creek Road, Tarago valued at $1,030,000 • 306 hectares at Nerriga Road, Durran Durra valued at $1,440,000 • 558 hectares at Charleys Forest Road, Charleys Forest valued at $441,000 • 290 hectares at Plains Road, Hoskinstown valued at $1,330,000 • 879 hectares at Jerangle Road, Captains Flat valued at $481,000 • 354 hectares at Kings Highway, Warri valued at $741,000 • 401 hectares at Kings Highway, Monga valued at $511,000. “Typical rural residential land values as at 1 July 2012 were: • 9.9 hectares at Reidsdale Road, Reidsdale valued at $201,000 • 3.5 hectares at Booth Road, Royalla valued at $373,000 • 9.2 hectares at Douglas Close, Carwoola valued at $397,000 • 1.1 hectares at Reardon Place, Bungendore valued at $357,000 • 4,047 square metres at George Street, Captains Flat valued at $79,600 • 9.4 hectares at Kings Highway, Manar valued at $147,000 • 4.3 hectares at Halls Lane, Durran Durra valued at $130,000 • 5.9 hectares at Naylor Road, Urila valued at $315,000. “Typical hobby farm land values as at 1 July 2012 were: • 20 hectares at Lucky Pass Road, Currawang valued at $206,000 • 38 hectares at Halls Lane, Durran Durra valued at $159,000 • 41 hectares at Hereford Hall Road, Hereford Hall valued at $133,000 • 10 hectares at Mount Fairy Road, Mount Fairy valued at $212,000 • 18 hectares at Burra Road, Burra valued at $371,000 • 7 hectares at Clare Valley Place, Wamboin valued at $401,000 • 17 hectares at Plains Road, Hoskinstown valued at $355,000 • 22 hectares at Columbo Road, Braidwood valued at $246,000. “Typical village land values as at 1 July 2012 were: • 9,055 square metres at Hospital Hill Road, Araluen valued at $78,500 • 1,966 square metres at Clyde Street, Mongarlowe valued at $50,400 • 3,624 square metres at Hill Street, Majors Creek valued at $92,600 • 8,094 square metres at Nerriga Road, Nerriga valued at $23,100 • 670 square metres at Foxlow Street, Captains Flat valued at $84,000. Mr Western said landowners wishing to know more about their land value or the land valuation system could call toll free on 1800 110 038 or visit the Land and Property Information website at www.lpi.nsw.gov.au/valuation. Media contact: Bill Smith 0412 446 058 .
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