16 April, 2021
Region’s land values top $17.5 billion
At the end of last week the Queensland Valuer-General released land valuations for 68,057 properties with a total value of $17,571,682,149 in the Toowoomba Regional Council Area.
The valuations reflect land values at 1st October 2020 and show that the Toowoomba region has increased by an average of 7.8 per cent overall since the last valuations were released in 2018.
Surprisingly, residential properties in what are generally considered to be growth areas such as Westbrook and Wyreema have not budged, while at Cambooya, the land valuations have decreased.
Land valuations at Cambooya decreased by an average of 3.5 per cent since 2018.
Increases in valuations for land classed as residential were recorded for Drayton (5 per cent), Felton (10 per cent), Finnie (25.4 per cent), Hodgson Vale (5 per cent), Mount Rascal (5.1 per cent), Preston (5.5 per cent), Top Camp (5.4 per cent), Vale View (6.9 per cent) and West Haldon (26 per cent).
There was no movement in valuations for East Greenmount, Greenmount, Nobby, Clifton, Southbrook, Spring Creek, Westbrook or Wyreema.
What are classed as rural residential properties in the localities including Haldon, Pilton, western and southern fringes of Toowoomba City, Westbrook, Wellcamp, and Southbrook saw moderate increases in land values, while there were generally, minor increases for rural residential lots at localities including Hodgson Vale, Top Camp, Vale View, and Cambooya.
Across the Region, rural land values have generally increased moderately, except for north and south of the Toowoomba urban area where there have been significant increases, due to the strength in beef commodity prices as well as a low interest rate environment.
In the Toowoomba Region there are 4,242 primary production land-holdings which increased by an average 28.5 per cent.
The total valuation of these primary production properties now is $2,905,815,800.
When the last valuation was done in 2017 - with figures released in 2018 - the total value of the Region’s primary production land had been put at $2,261,249,400.
Anyone wishing to inspect the valuation display listing for the Toowoomba Regional Council area can do so online at www. qld.gov.au/land valuation or visit the Department of Resources at 203 Tor Street in Toowoomba.