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.