The only two Gold Coast suburbs where values have gone up in 2011
The Queensland Valuer-General has released the annual land valuations for properties in the Gold Coast City Council area this week.
Valuer-General Neil Bray says the Gold Coast City Council area’s land values had fallen by 8% overall since the last valuation in 2011.
Residential values continued to fall in most localities within the local government area, Bray says. They remained stable in two localities.
“Generally land values in the central coastal areas of Surfers Paradise and Broadbeach have declined in value by almost 50 per cent since the 2008 peak,” he says.
Decisions on future planned construction projects along with weakening retail, industrial and tourism markets have had negative flow-on effects in spending and growth within the wider community, Bray notes.
Of the 73 localities in the Gold Coast City region, 43 went down in value, 28 had no change in value and two increased in value.
Residential localities | Median value at 1/10/2010 | Median value at 1/10/2011 | Change in median value (%) |
$147,250 | $168,750 | 14.6 | |
$131,500 | $138,000 | 4.9 |