AFFORDABILITY, a record number of property sales, low interest rates and upward trend in working from home were all factors in the significant increases in land values across the Moreton Border News area.
Ipswich City’s new land valuations were released by the Valuer General, Laura Dietrich, late last week with the leap in property values led by residential land (less than 4,000 sqm), which overall showed an average increase of 35 percent.
The biggest overall increase in average value was industrial land at 45 percent and Rural Residential land (larger than 4,000sqm) at 41.5 percent.
Multi-unit residential properties increased in value by 35 percent.
The value of primary production land increased overall by 28 percent and commercial land was among the poorest performers at 13 percent.
While the figures were announced last week, the actual valuations were undertaken in the period leading up to October 1, 2022, which accounts for the impact of the extended period of low interest rates.
Ms Dietrich described the increases in residential and primary production values across the region as “moderate”.
“These land valuations reflect property market changes since the [Ipswich local government area] was last valued [in] October 1, 2022.
“The new valuations will take effect from June 30 this year.”
The largest increase in local urban centres was residential land in Haigslea where the 18 homesites in the residential category increased in value by an average 50 percent.
The 269 residential properties in Marburg were not far behind as the average increase there was 45 percent.
Value of land in the urban areas in and around Rosewood also showed a marked increase with the 1,234 properties increasing by an average of 44 percent.
And in normally slower growth areas when it comes to residential properties such as Calvert (39 properties) and Grandchester (45 properties) the average increase in land value was around 29 percent.
That increase was just pipped by Flinders View where the 2,218 residential properties increased in value by an average of 31 percent.
