Bogan values slightly down, with industrial outlook the brightest
Land values in the Bogan local government area in central western NSW have fallen slightly.
The total land value of the Bogan Shire was $313 million, a slight decrease from the $316 million total as at July 2007.
Over the four-year period since landowners in Bogan were issued with notices of valuation, the value of residential and commercial land had generally shown a slight decrease, NSW Valuer-General Philip Western says.
There are just 2,024 properties in the Bogan municipality and therefore few sales to analyse price movements.
“Real estate analysis in the Bogan LGA has been comprehensive during the course of the 2011 valuation program, with 32 residential, four commercial, one industrial and 21 rural sales analysed,” Western advises.
The median residential land value fell from $30,500 to $26,500 over the past year.
Its only significant town is Nyngan.
The shire’s famers graze sheep and cattle along with cropping, primarily wheat.
Western says red farming country decreased slightly in value.
He says industrial land generally showed a slight increase in value.
Most of the rural, rural residential and village land zoned holdings generally remained steady over the four-year period.
