Coastal lifestyle locations Byron Bay and Kiama have led the way as NSW residential land values surged an “astonishing” 25 per cent to $1.8 trillion in the 12 months to July last year, according to the NSW Valuer-General’s annual report.
The report also revealed the total value of land in NSW rose 24 per cent over the reporting period - doubling to $2.2 trillion since 2014, representing a dramatic acceleration in the historic rate of growth.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
