Subdued Sutherland Shire land value growth: NSW Valuer General
The NSW Valuer General Simon Gilkes has sent 60,842 notices of valuation to landholders in the Sutherland local government area (LGA).
The notices of valuation show the land value of a property based on real estate market conditions as at 1 July 2014.
“The land value is the value of the land only and does not include the value of a home or other improvements on the land,” Gilkes said.
“Property sales are the most important factor considered when determining land values.
"For the 1 July 2014 land values in the Sutherland LGA, valuers analysed 837 property sales."
Land values are one factor that councils use to calculate rates.
“Land values are issued every three to four years for rating," said Gikes.
Landholders in Sutherland LGA were previously issued with a notice of valuation showing their property’s land value as at 1 July 2011.
The total land value of the Sutherland LGA was approximately $45.55 billion as at 1 July 2014.
This is an overall increase from the total land value of approximately $37.32 billion determined as at 1 July 2011.
The Valuer General noted since notices of valuation were last issued in the Sutherland LGA, the strong demand for rental property has resulted in moderate to strong increases in the land value of single dwelling and medium to high density sites.
"The land values of residential properties on the waterfront, however, remained steady or increased slightly."
Commercial land values generally increased slightly, however, land values in Miranda, Jannali, Heathcote, Cronulla and Sylvania remained steady, with the exception of mixed commercial/residential development sites that recorded strong to moderate increases in land value.
Commercial land values in Gymea, Kurnell and Sutherland increased moderately.
The value of industrial/employment land generally remained steady, with some slight decreases at Taren Point. Smaller lots at Kurnell in and around the oil refinery, desalination plant and sand mining/waste recycling operations showed a strong increase in value.
Rural residential land values generally remained steady, with the exception of a small number of properties at Barden Ridge, which showed a moderate increase in value.
The list below provides links to typical 2014 land values for a variety of land uses.
The properties selected were used as benchmarks for the valuation process:
| STREET | SUBURB | ZONE | LAND USE | AREA | M/H | 2011 LAND VALUE | 2014 LAND VALUE |
COACHWOOD | ALFORDS POINT | Residential | Residential | 644 | M | $472,000 | $560,000 |
BANDALONG | BANGOR | Residential | Residential | 667 | M | $428,000 | $530,000 |
MARSDEN | BARDEN RIDGE | Residential | Residential | 782 | M | $431,000 | $500,000 |
VAN BUREN | BONNET BAY | Residential | Residential | 556 | M | $449,000 | $560,000 |
BERNIE | BUNDEENA | Residential | Residential | 664 | M | $440,000 | $480,000 |
BULLS | Residential | Residential | 620 | M | $924,000 | $1,000,000 | |
Residential | Residential | 1602 | M | $2,100,000 | $2,200,000 | ||
FROBISHER | CARINGBAH | Residential | Residential | 613 | M | $615,000 | $780,000 |
LYNCH | Residential | Residential | 594 | M | $624,000 | $850,000 | |
WALLAMI | Residential | Residential | 658 | M | $700,000 | $820,000 | |
WILLARONG | Residential | Residential | 1584 | M | $1,450,000 | $1,450,000 | |
LORETTA | COMO | Residential | Residential | 564 | M | $448,000 | $600,000 |
COMO | Residential | Residential | 594 | M | $500,000 | $650,000 | |
CENTRAL | COMO | Residential | Residential | 1075 | M | $680,000 | $680,000 |
COOK | CRONULLA | Residential | Residential | 561 | M | $701,000 | $850,000 |
GARDENIA | CRONULLA | Residential | Residential | 552 | M | $980,000 | $1,200,000 |
KIRKWOOD | CRONULLA | Residential | Residential | 645 | M | $940,000 | $1,150,000 |
HAVELOCK | Residential | Residential | 556 | M | $408,000 | $515,000 | |
POULTER | Residential | Residential | 556 | M | $412,000 | $510,000 | |
EMERALD | GRAYS POINT | Residential | Residential | 607 | M | $514,000 | $610,000 |
GRAYS POINT | GRAYS POINT | Residential | Residential | 2567 | M | $635,000 | $666,000 |
TORQUAY | GREENHILLS BEACH | Residential | Residential | 558 | M | $745,000 | $960,000 |
MANCHESTER | GYMEA | Residential | Residential | 632 | M | $550,000 | $750,000 |
BOLARO | GYMEA | Residential | Residential | 578 | M | $519,000 | $680,000 |
NORTH WEST ARM | GYMEA | Residential | Residential | 645 | M | $429,000 | $580,000 |
COONONG | GYMEA BAY | Residential | Residential | 626 | M | $570,000 | $660,000 |
COOPERNOOK | GYMEA BAY | Residential | Residential | 1046 | M | $850,000 | $980,000 |
JACANA | HEATHCOTE | Residential | Residential | 607 | M | $448,000 | $540,000 |
MARTIN | HEATHCOTE | Residential | Residential | 563 | M | $412,000 | $500,000 |
PRIOR | ILLAWONG | Residential | Residential | 673 | M | $470,000 | $565,000 |
FOWLER | ILLAWONG | Residential | Residential | 1054 | M | $735,000 | $735,000 |
SECOND | Residential | Residential | 565 | M | $428,000 | $600,000 | |
MITCHELL | Residential | Residential | 664 | M | $450,000 | $650,000 | |
ROBVIC | KANGAROO POINT | Residential | Residential | 575 | M | $775,000 | $980,000 |
KANGAROO POINT | KANGAROO POINT | Residential | Residential | 1526 | M | $1,600,000 | $1,600,000 |
FREYA | KAREELA | Residential | Residential | 556 | M | $493,000 | $580,000 |
MUNDAKAL | Residential | Residential | 582 | M | $472,000 | $640,000 | |
HAYMET | Residential | Residential | 613 | M | $484,000 | $690,000 | |
WYLIE | Residential | Residential | 556 | M | $471,000 | $600,000 | |
BRIDGES | Residential | Residential | 552 | M | $390,000 | $570,000 | |
PRINCE CHARLES | Residential | Residential | 1438 | M | $800,000 | $950,000 | |
LOGAN | LOFTUS | Residential | Residential | 556 | M | $420,000 | $570,000 |
KARA KAROOK | MAIANBAR | Residential | Residential | 955 | M | $380,000 | $420,000 |
PACIFIC | MAIANBAR | Residential | Residential | 898 | M | $750,000 | $790,000 |
TRUMPER | MENAI | Residential | Residential | 630 | M | $418,000 | $500,000 |
TRISTANIA | MENAI | Residential | Residential | 577 | M | $431,000 | $565,000 |
FREDERICK | MIRANDA | Residential | Residential | 607 | M | $520,000 | $700,000 |
INGARA | MIRANDA | Residential | Residential | 575 | M | $534,000 | $700,000 |
VIOLET | MIRANDA | Residential | Residential | 575 | M | $542,000 | $680,000 |
KINGSWAY | MIRANDA | Residential | Residential | 563 | M | $410,000 | $530,000 |
RICKARD | OYSTER BAY | Residential | Residential | 670 | M | $510,000 | $620,000 |
CONNELL | OYSTER BAY | Residential | Residential | 863 | M | $808,000 | $808,000 |
ST GEORGE | SANDY POINT | Residential | Residential | 568 | M | $330,000 | $385,000 |
COOK | SUTHERLAND | Residential | Residential | 556 | M | $440,000 | $565,000 |
LEONAY | SUTHERLAND | Residential | Residential | 525 | M | $420,000 | $550,000 |
MURCHISON | SYLVANIA | Residential | Residential | 588 | M | $550,000 | $700,000 |
DALMAN | SYLVANIA | Residential | Residential | 556 | M | $550,000 | $765,000 |
EDWARD | SYLVANIA | Residential | Residential | 582 | M | $525,000 | $660,000 |
CASTLEREAGH | SYLVANIA WATERS | Residential | Residential | 607 | M | $590,000 | $760,000 |
CASTLEREAGH | SYLVANIA WATERS | Residential | Residential | 689 | M | $1,400,000 | $1,500,000 |
CURTIS | TAREN POINT | Residential | Residential | 650 | M | $660,000 | $760,000 |
WOODLANDS | TAREN POINT | Residential | Residential | 936 | M | $1,300,000 | $1,300,000 |
WARABIN | WATERFALL | Residential | Residential | 588 | M | $330,000 | $435,000 |
ELM | Residential | Residential | 556 | M | $772,000 | $860,000 | |
SEVERN | WORONORA | Residential | Residential | 594 | M | $399,000 | $500,000 |
PRINCE EDWARD PARK | WORONORA | Residential | Residential | 898 | M | $680,000 | $715,000 |
ALBATROSS | WORONORA HEIGHTS | Residential | Residential | 657 | M | $407,000 | $540,000 |
BROOKE | YARRAWARRAH | Residential | Residential | 620 | M | $401,000 | $490,000 |
KIORA | YOWIE BAY | Residential | Residential | 607 | M | $600,000 | $800,000 |
ATTUNGA | YOWIE BAY | Residential | Residential | 1450 | M | $1,150,000 | $1,150,000 |
WILLARONG | CARINGBAH | Residential | Unit Sites | 1189 | M | $1,500,000 | $2,000,000 |
MELROSE | SYLVANIA | Residential | Unit Sites | 1788 | M | $1,400,000 | $1,850,000 |
OLD PRINCES | SUTHERLAND | Mixed Residential/ Business | Mixed Commercial and Units | 980 | M | $1,400,000 | $1,800,000 |
KINGSWAY | CARINGBAH | Business | Commercial | 221 | M | $630,000 | $660,000 |
CRONULLA | CRONULLA | Business | Commercial | 186 | M | $1,350,000 | $1,350,000 |
OLD PRINCES | Business | Commercial | 278 | M | $350,000 | $365,000 | |
GYMEA BAY | GYMEA | Business | Commercial | 253 | M | $600,000 | $670,000 |
PRINCES | HEATHCOTE | Business | Commercial | 323 | M | $260,000 | $260,000 |
BOX | Business | Commercial | 120 | M | $400,000 | $400,000 | |
OAK | Business | Commercial | 259 | M | $350,000 | $365,000 | |
CARTER | MENAI | Business | Commercial | 2950 | M | $2,500,000 | $2,500,000 |
ALLISON | MENAI | Business | Commercial | 5028 | M | $2,500,000 | $2,600,000 |
KINGSWAY | MIRANDA | Business | Commercial | 240 | M | $635,000 | $635,000 |
OLD PRINCES | SUTHERLAND | Business | Commercial | 139 | M | $450,000 | $510,000 |
PRINCES | SYLVANIA | Business | Commercial | 316 | M | $350,000 | $350,000 |
PARRAWEENA | CARINGBAH | Employment | Industrial | 626 | M | $540,000 | $515,000 |
PARRAWEENA | CARINGBAH | Employment | Industrial | 2210 | M | $1,500,000 | $1,500,000 |
MIANGA | Employment | Industrial | 1721 | M | $1,000,000 | $1,000,000 | |
PRINCES | Employment | Industrial | 2305 | M | $2,000,000 | $2,000,000 | |
MONRO | Employment | Industrial | 697 | M | $570,000 | $570,000 | |
BATH | Employment | Industrial | 2206 | M | $1,400,000 | $1,400,000 | |
WARATAH | Employment | Industrial | 8085 | M | $3,400,000 | $3,400,000 | |
WARATAH | Employment | Industrial | 1 | H | $4,000,000 | $4,000,000 | |
TASMAN | Industrial | Industrial | 446 | M | $190,000 | $190,000 | |
BOX | MIRANDA | Employment | Industrial | 2413 | M | $1,300,000 | $1,300,000 |
PARRAWEENA | MIRANDA | Employment | Industrial | 4659 | M | $2,650,000 | $2,650,000 |
PARRAWEENA | MIRANDA | Employment | Industrial | 1.2 | H | $5,200,000 | $5,200,000 |
TAREN POINT | TAREN POINT | Employment | Industrial | 1022 | M | $1,000,000 | $1,000,000 |
MELROSE | SYLVANIA | Residential | Unit Sites | 1788 | M | $1,400,000 | $1,850,000
|
OLD PRINCES | SUTHERLAND | Mixed Residential/ Business | Mixed Commercial and Units | 980 | M | $1,400,000 | $1,800,000 |
KINGSWAY | CARINGBAH | Business | Commercial | 221 | M | $630,000 | $660,000 |
CRONULLA | CRONULLA | Business | Commercial | 186 | M | $1,350,000 | $1,350,000 |
OLD PRINCES | Business | Commercial | 278 | M | $350,000 | $365,000 | |
GYMEA BAY | GYMEA | Business | Commercial | 253 | M | $600,000 | $670,000 |
PRINCES | HEATHCOTE | Business | Commercial | 323 | M | $260,000 | $260,000 |
BOX | Business | Commercial | 120 | M | $400,000 | $400,000 | |
OAK | Business | Commercial | 259 | M | $350,000 | $365,000 | |
CARTER | MENAI | Business | Commercial | 2950 | M | $2,500,000 | $2,500,000 |
ALLISON | MENAI | Business | Commercial | 5028 | M | $2,500,000 | $2,600,000 |
KINGSWAY | MIRANDA | Business | Commercial | 240 | M | $635,000 | $635,000 |
OLD PRINCES | SUTHERLAND | Business | Commercial | 139 | M | $450,000 | $510,000 |
PRINCES | SYLVANIA | Business | Commercial | 316 | M | $350,000 | $350,000 |
PARRAWEENA | CARINGBAH | Employment | Industrial | 626 | M | $540,000 | $515,000 |
PARRAWEENA | CARINGBAH | Employment | Industrial | 2210 | M | $1,500,000 | $1,500,000 |
MIANGA | Employment | Industrial | 1721 | M | $1,000,000 | $1,000,000 | |
PRINCES | Employment | Industrial | 2305 | M | $2,000,000 | $2,000,000 | |
MONRO | Employment | Industrial | 697 | M | $570,000 | $570,000 | |
BATH | Employment | Industrial | 2206 | M | $1,400,000 | $1,400,000 | |
WARATAH | Employment | Industrial | 8085 | M | $3,400,000 | $3,400,000 | |
WARATAH | Employment | Industrial | 1 | H | $4,000,000 | $4,000,000 | |
TASMAN | Industrial | Industrial | 446 | M | $190,000 | $190,000 | |
BOX | MIRANDA | Employment | Industrial | 2413 | M | $1,300,000 | $1,300,000 |
PARRAWEENA | MIRANDA | Employment | Industrial | 4659 | M | $2,650,000 | $2,650,000 |
PARRAWEENA | MIRANDA | Employment | Industrial | 1.2 | H | $5,200,000 | $5,200,000 |
TAREN POINT | TAREN POINT | Employment | Industrial | 1022 | M | $1,000,000 | $1,000,000 |