The NSW Valuer General, Dr David Parker, has published land values for the Central Tablelands region. The land values reflect the value of land only, as at 1 July 2021.
Land values across the Central Tablelands region have experienced a strong increase of 21.8% between 1 July 2020 and 1 July 2021, from $21.9 billion to $26.7 billion.
Dr Parker said property sales are the most important factor valuers consider when determining land values.
“Land value is the value of the land only and does not include the value of a home or other structures,” Dr Parker said.
“Private contract valuers with expertise in their local areas have prepared the 1 July 2021 land values on behalf of the Valuer General, to determine new land values across the region. The valuers consider a range of factors in determining land value, including the features of the land and its legally permitted use.”
Residential land values across the region experienced a strong increase of 24.7%. The strongest increases were experienced in Orange (39.7%) and Cowra (38.7%) given the high level of interest from purchasers seeking alternative lifestyle options in regional areas over metropolitan living. This movement combined with record low mortgage rates, improving economic conditions and low listing numbers has led to a strong increase in residential land values across the Central Tablelands.
Rural land values across the region experienced a strong increase of 22.1%. Rural land values suitable for primary production experienced strong increases given high commodity prices, low interest rates and favourable seasonal conditions.
Dr Parker encouraged the public to visit www.valuergeneral.nsw.gov.au or call 1800 110 038 for more information on land values and the valuation system.