Land Valuations Overview: Maranoa Regional Council
Total Page：16
File Type：pdf, Size：1020Kb
Land valuations overview: Maranoa Regional Council On 31 March 2021, the Valuer-General released land valuations for 6,784 properties with a total value of $2,892,915,352 in the Maranoa Regional Council area. The valuations reflect land values at 1 October 2020 and show that the Maranoa region has increased by 31.5 per cent overall since the last valuation in 2018. Rural land values have increased significantly due to the strength in beef commodity prices as well as a low interest rate environment. Urban land values have generally reduced across Maranoa region, which reflects the continued decline of small rural towns and the gas infrastructure phase transitioning to production. Inspect the land valuation display listing View the valuation display listing for Maranoa Regional Council online at www.qld.gov.au/landvaluation or visit the Department of Resources, 25 Quintin Street, Roma. Detailed valuation data for Maranoa Regional Council Valuations were last issued in the Maranoa Regional Council area in 2018. Property land use by total new value Residential land Table 1 below provides information on median values for residential land within the Maranoa Regional Council area. Table 1 - Median value of residential land Residential Previous New median Change in Number of localities median value value as at median value properties as at 01/10/2020 (%) 01/10/2017 ($) ($) Amby 7,000 4,200 -40.0 34 Blythdale 18,400 18,400 0.0 2 Dunkeld 560 560 0.0 4 Euthulla 122,000 122,000 0.0 2 Gunnewin 4,800 4,800 0.0 1 Hodgson 32,750 32,750 0.0 10 Injune 31,500 22,000 -30.2 164 Jackson 4,500 3,600 -20.0 25 Mitchell 20,500 10,200 -50.2 406 Muckadilla 6,500 6,500 0.0 9 Mungallala 5,250 5,250 0.0 28 Roma 66,000 60,000 -9.1 2,602 Surat 27,000 16,200 -40.0 188 Wallumbilla 31,500 25,000 -20.6 124 Wallumbilla 160,000 320,000 100.0 1 North Wellesley 26,950 16,250 -39.7 2 Yuleba 29,500 14,800 -49.8 106 All residential 58,000 53,000 -8.6 3,708 localities Explanatory Notes: Residential land values have generally reduced across Maranoa region, which reflects the decline of small rural towns and the continuation of the gas infrastructure phase transitioning to production, resulting in reduced demand. The median value of residential land in Roma has decreased from $66,000 to $60,000. Most properties experienced a moderate reduction in values except for those properties which previously flooded prior to the levy construction. Generally, there was significant reductions in Amby, Injune, Mitchell, Surat and Yuelba, and more moderate reductions in Wallumbilla and Jackson. Maranoa Regional Council Rural residential land Table 2 below provides information on median values for rural residential land within the Maranoa Regional Council area. Table 2 - Median value of rural residential land Land Use Previous New median Change in Number of median value value as at median value properties as at 01/10/2020 (%) 01/10/2017 ($) ($) Rural 157,500 170,000 7.9 740 residential Explanatory Notes: Rural residential land values have generally remained unchanged, except for properties along Mt Saltbush Road, Roma, where there has been a significant increase. Other land uses Table 3 below provides information on total land uses other than residential and rural residential land within the Maranoa Regional Council area. Table 3 - Total land values of other land uses Land use Previous total New total land Change in total Number of category land value as value as at land value (%) properties at 01/10/2017 01/10/2020 ($) ($) Multi-Unit 5,841,900 5,342,200 -8.6 87 Residential Commercial 70,142,100 58,941,400 -16.0 293 Industrial 94,788,150 56,414,650 -40.5 334 Primary 1,706,041,160 2,469,880,370 44.8 1,466 Production Other 14,220,032 14,453,172 1.6 156 Explanatory Notes: Minor reductions in multi-unit residential land values in the town of Roma. Industrial land values in Roma have seen significant reductions in value, due to continued transition of the gas industry from the infrastructure phase to production, seeing reduced demand. Median industrial values within Maranoa Regional Council have reduced from $171,250 to $108,000. Commercial land values in Roma have seen moderate reduction in value. Median commercial values within Maranoa Regional Council have reduced from $162,500 to $139,000. Rural land values in Maranoa region have continued to grow on the back of landowners’ confidence in the rural sector. Maranoa Regional Council Significant valuation increases have been recorded in the lesser quality rural country types, while more moderate increases have been noted in the better-quality scrub country north of Wallumbilla. A market-based review of rural properties has been undertaken along the Murweh and Balonne shire boundaries, resulting in varied changes. 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. This is particularly so in South West and Central Queensland. The increase in rural property values is despite ongoing drought declarations in many parts of the State. Maranoa Regional Council .