Land value for rural Northerland Tablelands properties increases by 11.4%: NSW Valuer-General
The total land value for the Northern Tablelands region has increased over the 12 month period to 1 July 2016 by 9.5 percent from $7.42 billion to $8.13 billion.
Rural properties showed the highest overall increase of approximately 11.4 percent.
Good seasonal conditions together with strong commodity prices for beef and lamb have been the main drivers for strong increases in rural land values in the region.
Inverell LGA showed the strongest increase (20.3 percent), while the lowest growth was experienced in the Walcha LGA (7.9 percent).
A 961 ha mixed farming land at Inverell (above) has been listed for sale for $3,750,000.
Residential land values increased by 6.2 percent overall.
The highest increases were in the LGAs of Uralla (12.1 percent), Inverell (7.7 percent) and Armidale (7.2 percent), whilst Walcha (-4.9 percent) and Glen Innes (-2.1 percent) showed a decrease in value.
Residential land at Uralla (above) was recently sold for $107,000.
Commercial land values across the region generally remained steady.
The strongest increase occurred in the LGA of Uralla (16.8 percent).
However, commercial land values decreased in the LGAs of Walcha (-5.3 percent) and Glen Innes (-2.4 percent) reflecting lower demand for commercial property in these areas.
Industrial land values for the region have generally remained steady.
The strongest increase was experienced in Uralla (9 percent), with the largest decrease in Walcha (-5 percent).
For more information including interactive online land value summaries for all LGAs and 14 regions covering the state go to