Gosford land values dip or rise marginally in past three years
Over the past three-year period the value of residential land in the Gosford local government area has generally showed a slight to moderate decrease, according to the NSW Valuer-General Philip Western.
It follows the release of fresh valuations for 63,292 properties in the Gosford local government area.
The total land value of the Gosford municipality as at July 1, 2012, was $19.66 billion, a decrease from the total land value of $20.88 billion determined as at July 1, 2009.
Residential land in areas such as Avoca Beach, Copacabana, Gosford, MacMasters Beach, Koolewong and Davistown showed a slight to moderate increase in value.
Beach front properties in North Avoca also showed a slight increase in value, but beach front properties at Avoca Beach showed a slight decrease.
The value of coastal rural residential land varied with some properties showing a moderate increase and others showing a moderate decrease. Rural residential land in the hinterland has generally shown a slight to moderate decrease, with the more rugged and less cleared sites showing a stronger than average decrease. Hinterland properties in the more prime locations showed a slight increase in value.
The value of commercial land generally showed a slight decrease, with the exception of the prime suburb of Erina, which showed slight to strong decreases in value, and commercial land values in Terrigal, which showed a slight increase.
Commercial land values in Gosford and Woy Woy showed a range of changes, from slight increase to slight decrease, while most of the commercial land in Ettalong Beach showed a moderate increase.
Industrial land in the Gosford LGA also generally showed a slight decrease in value, with the exception of land in North Gosford, which remained steady or showed a slight increase in value.
Typical residential land values as at 1 July 2012 were:
• 670 square metres at Amethyst Avenue, Pearl Beach valued at $513,000
• 727 square metres at Avoca Drive, Avoca Beach valued at $2,730,000
• 613 square metres at Dale Close, Terrigal valued at $350,000
• 556 square metres at North Avoca Parade, North Avoca valued at $2,720,000
• 696 square metres at Paton Street, Woy Woy valued at $235,000
• 613 square metres at Patrick Crescent, Saratoga valued at $247,000
• 664 square metres at Salacia Close, St Huberts Island valued at $490,000
• 683 square metres at Webb Street, East Gosford valued at $290,000.
Typical commercial land values as at 1 July 2012 were:
• 479 square metres at Blackwall Road, Woy Woy valued at $399,000
• 234 square metres at T errigal Esplanade, Terrigal valued at $1,280,000
• 259 square metres at Victoria Street, East Gosford valued at $240,000
• 526 square metres at Watt Street, Gosford valued at $415,000
• 266 square metres at West Street, Umina Beach valued at $400,000.
Typical industrial land values as at 1 July 2012 were:
• 481 square metres at Alma Avenue, Woy Woy valued at $223,000
• 2,149 square metres at Bonnal Road, Erina valued at $547,000
• 4,204 square metres at Bowen Crescent, West Gosford valued at $455,000
• 2,639 square metres at Brooks Avenue, Wyoming valued at $371,000
• 4,000 square metres at Somersby Falls Road, Somersby valued at $526,000.
Typical rural residential land values as at 1 July 2012 were:
• 4,047 square metres at Avoca Drive, Green Point valued at $190,000
• 1.1 hectares at Doyle Street, Macmasters Beach valued at $400,000
• 2 hectares at Fagans Road, Lisarow valued at $400,000
• 1 hectare at Matcham Road, Matcham valued at $560,000
• 1 hectare at Nursery Street, Narara valued at $308,000
• 1 hectare at Scenic Highway, Terrigal valued at $900,000
• 1 hectare at Tumbi Road, Wamberal valued at $430,000
• 4,047 square metres at Yugari Crescent, Daleys Point valued at $275,000.
Typical hobby farm land values as at 1 July 2012 were:
• 8.7 hectares at Hayden Road, Wamberal valued at $620,000
• 19 hectares at Pacific Highway, Mount White valued at $680,000
• 48 hectares at Peats Ridge Road, Peats Ridge valued at $1,470,000
• 8.1 hectares at Wisemans Ferry Road, Mangrove Mountain valued at $550,000.
The last valuations have been compiled during the 2012 valuation program from the analysis of 720 residential, 50 commercial, 30 industrial and 120 rural sales.
Landowners in Gosford LGA were last issued with a notice of valuation showing their property’s land value as at July 1, 2009.
