Land values fell 3.5% in NSW region of Boorowa in past three years: Valuer- General

The total land value of Boorowa region in NSW decreased 3.5% from 2008 to 2011, according to NSW Valuer-General Philip Western.

The combined value of the 1,957 properties in Boorowa dropped to $403 million in July 2011, down from $417 million in 2008.

Western found residential land generally had a slight increase in value, bolstered by increased interest from Canberra over the three years.

Commercial land values had a generally moderate increase in value, including smaller lots along Marsden Street.

Rural land values experienced a slight decrease, with mixed farming properties generally suffering a bigger fall.

Hobby farms had an overall slight decrease in land values, while the more remote areas of Taylors Flat, Reids Flat and Wyangala had a moderate decrease.

Year-on-year median rural land prices in Boorowa decreased 3.5% from $148,000 between 2010 and 2011.

Village land value in Boorowa increased slightly over the three years.

Landowners and rate-paying lessees received a notice of valuation this month.

The valuations are used to determine rates and land taxes on investment properties.

Typical residential land values were:

• 1,155 square metres at Campbell Street, Boorowa valued at $46,200
• 2,023 square metres at Marsden Street, Boorowa valued at $43,700
• 1,024 square metres at Marsden Street, Boorowa valued at $27,500
• 835 square metres at Pudman Street, Boorowa valued at $50,600

Typical commercial land values were:

• 866 square metres at Marsden Street, Boorowa valued at $15,700
• 980 square metres at Pudman Street, Boorowa valued at $35,600
• 1,024 square metres at Marsden Street, Boorowa valued at $27,500

Typical rural land values were:

• 404 hectares at Riverside Road, Mount Collins valued at $770,000
• 457 hectares at Battery Road, Mount Collins valued at $525,000
• 498 hectares at Kenyu Road, Boorowa valued at $502,000
• 262 hectares at Rugby Road, Boorowa valued at $666,000
• 291 hectares at Frogmore Road, Wyangala valued at $450,000
• 204 hectares at Rye Park Road, Rye Park valued at $525,000
• 362 hectares at Little Plains Road, Rye Park valued at $410,000
• 319 hectares at Rossi Road, Godfreys Creek valued at $670,000

Typical rural residential land values were:

• 8.1 hectares at Boorowa valued at $102,000
• 5,786 square metres at Parnell Street, Boorowa valued at $63,000

Typical hobby farm land values were:

• 36.3 hectares at Ironbark Lane, Frogmore valued at $75,000
• 58.2 hectares at Grassy Creek Road, Rye Park valued at $120,000
• 41 hectares at Old Wheeo Road, Taylors Flat valued at $99,900
• 56.7 hectares at Rye Park valued at $114,000
• 42.9 hectares at Frogmore Road, Hovells Creek valued at $99,800

Typical village land values were:

• 2,023 square matres at Britannia Street, Reids Flat valued at $7,300
• 3,884 square metres at Kershaw Street, Rye Park values at $24,200