Confidence in rural land values continues
Landowners in 25 Queensland local government areas can access their new land valuations from today.
Queensland’s Valuer-General said around 261,000 landowners were issued with new land valuations, which come into effect from 30 June 2021.
“Queensland’s property market has been influenced by a variety of factors with increases in land value in a number of regional areas during the period these land valuations took place,” the Valuer-General said.
“In the past 12 months, Queensland has seen significant increases in values for grazing and broad-acre farming properties despite large areas of the state remaining drought-declared.
“As with previous years, confidence remains in Queensland’s rural sector with continued strength in beef and commodity prices and historically low interest rates, leading to a high volume of sales across the state.
“Low interest rates have been a big driver with finance available for farm aggregation and business expansion, supported by strong beef and rural commodity prices.”
The 25 areas include Balonne, Banana, Barcaldine, Barcoo, Blackall-Tambo, Bulloo, Burdekin, Central Highlands, Charters Towers, Cook, Diamantina, Gladstone, Gympie, Isaac, Longreach, Maranoa, Murweh, Paroo, Quilpie, Somerset, Southern Downs, Tablelands, Toowoomba, Western Downs and Whitsunday.
The Valuer-General said the volume of title transactions recorded by the Registrar of Titles in the first half of the 2020-21 financial year were up by 10 per cent on the same period the previous year – averaging around 2,950 dealings lodged each day.
“Despite drought conditions, the weight of available rural sales evidence, particularly in South West and Central Queensland, indicate positive market conditions attributed to favourable seasonal conditions, low interest rates and high rural commodity prices,” he said.
“It was recognised that market volatility and uncertainty was expected as a result of COVID-19, with governments responding with a range of stimulus packages including relief from state fees and land rents, targeted support for industry and small business and cost-of-living relief for households.
“We will continue to closely monitor the market as Queensland recovers from the pandemic, and a decision will be made on the 2022 program in the last quarter of 2021.”
Some areas of the state have not been re-valued in 2021 due to market information indicating no certainty in sustainable land values since the previous valuation period.
In areas where new valuations have not been issued, the most recent annual valuation will remain effective for rating, land tax and state land rental purposes until the next valuation is undertaken.
For specific information on market movements in the 25 local government areas revalued in 2021, refer to information on the Land valuations website.
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Queensland Globe gives landowners access to more detailed valuation information, and from this year the Globe will display information on Land valuation, Freehold valuation, and State land rental valuation notices. Landowners can access the Queensland Globe year-round on the Land valuations website.
A rural sales map showing larger rural property sales is also available online and at selected locations allowing landowners to compare their valuations with others in their area.
Hard copies of the valuation listing can be viewed at Department of Resources business centres and local government offices during normal business hours until 30 June 2021.
Landowners who disagree with their valuation, and could provide supporting information, could lodge their objection online or at the address shown at the top of their valuation notice by 31 May 2021.
Landowners without internet access can call 1300 664 217 to request an objection kit.
Last updated 31 March 2021