Mooree Plains land values increased 35% in three years, driven by strong rural growth

The total land value of Moree Plains Shire increased 35% from 2008 to 2011, driven up by strong growth in rural land values, according to NSW Valuer-General Philip Western.

The combined land value of the 6962 properties in the shire was $3.368 billion in July 2011, up from $2.499 billion in 2007.

Larger cropping land and mixed farming and grazing land values had a moderate increase over the four years, with irrigation lands experiencing a slight increase in value.

Former grazing properties west of Moree, which were recently converted to cultivation land, had a strong increase in land values.

Hobby farms had a slight increase in land values, with sites smaller than one hectare surrounding the villages experiencing strong increases.

The village areas of Mungindi and Pallamallawa had a moderate increase in land values, while village land in Boggabilla experienced strong increases.

These overall increases in rural prices came despite a 0.5% drop in median rural land prices from 2010 to 2011 from $603,000 to $600,000.

The land value of residential, commercial and industrial land has generally in the shire remained steady.

From 2010 to 2011 median business land prices increased 1% from $96,100 to $96,900 while median residential land prices stayed at $30,800 and median industrial land prices at $102,000.

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

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

Typical residential land values were:

• 664 square metres at Barwon Avenue, Moree valued at $5,000
• 646 square metres at Brigalow Drive, Moree valued at $38,500
• 1,370 square metres at Callaille Avenue, Moree valued at $115,000
• 767 square metres at Oak Street, Moree valued at $10,500
• 974 square metres at Queen Street, Moree valued at $65,000

Typical commercial land values were:

• 396 square metres at Balo Street, Moree valued at $187,000
• 891 square metres at Frome Street, Moree valued at $98,000
• 1,012 square metres at St George Street, Mungindi valued at $4,340

Typical industrial land values were:

• 2,574 square metres at Greenbah Road, Moree valued at $152,000
• 5,489 square metres at Industrial Drive, Moree valued at $102,000

Typical rural land values were:

• 571 hectares at Terry Hie Hie Road, Moree valued at $1,860,000
• 1,056 hectares at Ulinga Road, Garah valued at $1,540,000
• 394 hectares at Terry Hie Hie Road, Terry Hie Hie valued at $1,420,000
• 1,297 hectares at Talmoi Road, Garah valued at $2,590,000

Typical rural residential land values were:

• 2.7 hectares at Tranquility Road, Moree valued at $110,000
• 41.5 hectares at Burrington Road, Moree valued at $147,000
• 5,066 square metres at Myora Street, Moree valued at $15,000

Typical hobby farm land value was:

• 57.4 hectares at Mosquito Creek Road, Pallamallawa valued at $208,000

Typical village land values were:

• 2,023 square metres at Bucknell Street, Mungindi valued at $1,970
• 2,011 square metres at Yeoman Street, Boggabilla valued at $5,500
• 2,023 square metres at Bingera Street, Pallamallawa valued at $16,900