14 April, 2021
Drop in Allora’s residential land values
The Queensland Valuer-General last week released land valuations for 18,332 properties with a total value of $2,555,068,600 in the Southern Downs Regional Council area.
The valuations reflect land values at 1 October 2020 and show that the Southern Downs Region has increased by 11 per cent overall since the last valuation, figures for which were released in 2017.
While the value land across the Region increased, many residential values either stayed the same or dropped.
In Allora 408 properties were valued and there was an average decrease of 4.5 per cent.
In October 2016 Allora’s residential land average was $88,000 per property, while at October last year it was assessed at $84,000.
It was a different story at Hendon, where residential values saw a 20 per cent increase, from an average of $40,000 in 2016 to an average of $48,000 now.
Values at Pratten decreased by 9.5 per cent.
Land valuations for residential property at Ellinthorp, Goomburra, Mount Marshall and Wheatvale did not change.
Generally there was no change within rural residential land values throughout the Southern Downs Region.
Rural land values have increases significantly throughout all country types within the Southern Downs Region due to strong commodity prices as well as a low interest rate environment.
Across the Southern Downs, the total value of primary production land increased by an average of 42.4 per cent.
On a State wide basis 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 broadacre lands in the 25 local government areas for which new valuations have been released by the Valuer General across rural Queensland.
The increase in rural property values is despite drought declarations in many parts of the State.
Landowners can view the valuation display listing for the Southern Downs Regional Council area online at www.qld.gov.au/landvaluation or visit the Department of Resources, Level 1, Cnr Guy and Fitzroy Streets, Warwick.
Landowners who disagree with their valuation and are able to provide supporting information can lodge their objection online at www.qld.gov. au/environment/land/title/valuation/objections/lodge-objections or at the address shown at the top of their valuation notice by 31st May 2021.
Those who do not have internet access, can call 1300 664 217 to request an objection kit.
