Logan’s flooded properties get pricier as ratepayers face huge bills

Homeowners and industrial landowners across Logan are bracing for huge council rate increases after land values across the city were jacked up nearly 20 per cent, including in areas that flood.FIND YOUR VALUATION HERE

Valuer-General Laura Dietrich. Land valuations rose in every suburb in Logan including those that notoriously flood.

Homeowners and industrial landowners across Logan are bracing for huge increases in council rates in June after land values across the city were jacked up nearly 20 per cent, with even flood-affected properties rising in value.

Logan was one of 14 regions included in the Queensland Valuer-General’s latest land assessments, handed down last week, which revealed a 19 per cent increase in valuations across Logan’s 39 suburbs and 119,873 properties.

In line with the previous valuations two years ago, industrial land values surged the most, experiencing a total increase of a whopping 27.1 per cent from $2.89 billion to $3.68 billion.

Even suburbs which suffered from severe flooding after Cyclone Debbie in 2017 and subsequent flooding in 2022, still experienced strong land value increases.

The largest valuation jump of a flood-affected suburb was Loganholme, whacked with a 32.3 per cent rise in land values despite severe flooding in 2017.

A flooded house in Beenleigh in 2022. Property valuations still rose in this suburb. Picture: Nigel Hallett

Bethania land values also rose by 30.7 per cent despite much of the suburb being under water in 2017 and Beenleigh, which was blocked off to traffic in 2017 and 2022, had a 29.5 per cent hike.

Eagleby and Waterford showed lower increases of 10.2 per cent and +7.3 per cent, likely reflecting flood risk concerns.

The council will this week use the new valuations, which take effect from June 30, to calculate the next rates increases, which will be included in the June 25 budget.

Councillors were briefed by the Valuer-General’s department this month on the new valuations ahead of budget time and were told that flooding events were taken into consideration, reducing some property values.

Valuer-General Laura Dietrich urged property owners, including those who experienced recent flooding, to review their updated valuations and, if necessary, lodge an objection within the 60-day appeal period, which ends on May 26.

Eagleby and Loganholme flooded in 2017 but property valuations still rose. Picture: Logan City Council

“We understand some Queenslanders are doing it tough following recent floods and adverse weather events and may have questions about how this affects their land valuation,” she said.

“While these valuations were completed before recent flood events, we carefully consider the impact of historic flooding when assessing land values.

“Landowners who experienced flooding beyond its historical levels, or if have been impacted by adverse weather for the first time, should contact the call centre.”

The new valuations, based on property values as of October 1, 2024, indicated a sharp rise in land prices that are expected to translate to higher council rates and land tax obligations for landowners.

Among Logan’s suburbs, Belivah recorded the highest percentage jump, with median values surging 45.2 per cent from $210,000 to $305,000.

Yarrabilba, known for its out of sequence development and lack of road infrastructure, also received a steep increase of 35.7 per cent, with values rising from $210,000 to $285,000.

Tanah Merah, which borders the Pacific Highway, followed closely, with a 35.4 per cent rise from $325,000 to $440,000.

South Maclean recorded a 34.2 per cent increase, with values shifting from $205,000 to $275,000, while Loganholme, where the proposed Coomera Connector will be built, had an uptick of 32.3 per cent, rising from $310,000 to $410,000.

Not all suburbs saw such significant growth.

Belivah was one of the highest rising valuations in Logan according to the data release by Valuer-General Laura Dietrich.

Stockleigh recorded the smallest increase, with its median land value rising only 2.1 per cent, from $475,000 to $485,000.

Waterford, which has experienced flooding in 2017 and 2022, had a modest 7.3 per cent increase, from $275,000 to $295,000, while Mount Warren Park had a 7.4 per cent rise, with values climbing from $270,000 to $290,000.

Holmview and Waterford West also recorded relatively minor increases of 7.6 per cent and 7.7 per cent, respectively.

The sharp rises in land values across certain suburbs can be attributed to several key factors including rapid population growth driving demand for residential land in areas such as Belivah and Yarrabilba.

Industrial land was not missed in the Valuer-General’s valuations released on Thursday.

The massive 27 per cent leap in industrial land values was largely driven by the growing demand for logistic warehousing, fuelled by the expansion of e-commerce.

Additionally, an increase in local manufacturing heightened demand for industrial spaces near major transport corridors including the M1 and the prospective Coomera Connector route.

Other land categories had more restrained growth.

Commercial land values recorded a modest 3.1 per cent increase, suggesting limited demand possibly due to economic uncertainties and cost-of-living pressures.

Primary production land experienced a 10.6 per cent rise, reflecting steady demand driven by proximity to major markets and urban centres.

Those seeking further details on property valuations and the objection process can visit the Queensland Government’s land valuation portal.

Originally published as Logan’s flooded properties get pricier as ratepayers face huge bills