Rural land values in Central West NSW soar by 17%: NSW Valuer-General

The total land value for the Central West region has increased over the 12 month period to 1 July 2016 by 13.4% from $12.11 billion to $13.73 billion, according to the latest report from the NSW Valuer-General.

The Report on NSW Land Values at 1 July 2016 found that rural zoned land saw the largest increase in the Central West region, with an overall increase of 17.2%. Exceptions to this trend were seen in the former Harden and Young shires, where values increased by 5% to 7% and in the Gilgandra and Parkes shires, where values increased by between 2% and 3%.

Residential land values showed an overall increase of 6.6% throughout the region. However, residential land values remained steady in the council areas of Coonamble, Parkes, Warrumbungle and Weddin and the former council areas of Boorowa and Wellington.

Overall, commercial land values remained steady across the region, with the exception of commercial land in Gilgandra Shire Council, which increased by 5.2%, Narromine Shire Council, which increased by 9.6%, and Warren Shire Council, which increased by 5.9%.

Industrial land values remained steady across the region. However, industrial land in Gilgandra Shire Council showed a strong increase of 15.8%.

For more information including interactive online land value summaries for all LGAs and 14 regions covering the state go to www.valuergeneral.nsw.gov.au.