Land values drop 4% in NSW region of Hay in three years: Valuer-General

Alistair WalshDecember 8, 2020

The 2,031 properties in the NSW region of Hay had a total land value of $151 million in July 2011, according to NSW Valuer-General Philip Western.

The figure was down 4% from $157 million in 2008.

Residential land values experienced a slight decrease over the three years.

Rural land values also experienced a slight decrease over the three years while year-on-year median prices decreased 3.5% from a median of $64,200 in 2010.

Western found rural residential land in the Hay Irrigation Area and village land in Maude and Booligal had a generally strong decrease in price.

Commercial land also experienced a slight decrease over the three years.

Industrial land values increased slightly from 2008 levels.

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

The valuations are used by councils to determine rates and taxes for investment property purchases.

Typical residential land values were:

  • 2,023 square metres at Lang Street, Hay valued at $29,800
  • 928 square metres at Meakes Street, Hay valued at $20,600

Typical commercial land value was:

  • 799 square metres at Lachlan Street, Hay valued at $36,400 

Typical industrial land value was:

  • 1,447 square metres at Murray Street, Hay valued at $30,000

Typical rural land values were:

  • 237 hectares at Murrumbidgee River Road, Hay valued at $88,200
  • 4,079 hectares at Alma Road, Booligal valued at $264,000
  • 1,621 hectares at Toopuntul Road, Maude valued at $119,000

Typical hobby farm land value was:

  • 12.8 hectares at University Road, Hay South valued at $68,400

Typical village land values were:

  • 1,518 square metres at Hay Street, Booligal valued at $2,470
  • 2,023 square metres at Waratah Street, Maude valued at $3,980

 

 

 

    Alistair Walsh

    Deutsche Welle online reporter

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