Land values on Fraser Coast rise by 100% in 2024

Land valuations have skyrocketed by more than 100 per cent in some suburbs of the Fraser Coast, pushed by migration and increased demand. SUBURB BREAKDOWN.

Thousands of homeowners are at risk of a hefty rate rise and tax bill increase after land values across parts of the Fraser Coast jumped by as much as 100.6 per cent.

On March 26 the Valuer-General issued new land valuations to 20 local government areas across Queensland.

While Theodore in Banana Shire topped the statewide list with a valuation rise of 178.50 per cent, 21 of the Fraser Coast’s 50 towns or suburbs will have their land values rise by more than 40 per cent.

Howard and Torbanlea both recorded the highest in the area with a 100.6 per cent rise in land valuations, with Burrum Town close behind with a 100 per cent rise.

In terms of monetary value, this means Howard and Torbanlea both rise from $81,000 to $162,500, and Burrum Heads increases from $180,000 to $235,000.

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Sawmill Road is one of the wealthiest streets in the Fraser Coast, and in a suburb where land values have climbed 32.7 per cent.

K’gari property owners will take the smallest hit, recording a 14.5 per cent rise in their land values.

Despite the small rise, the heritage-listed island is still home to the highest median price in the region at $395,000, $30,000 more than Dundowran Beach.

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The valuations are expected to impact rates bills, but that won’t be revealed until the Fraser Coast Regional Council brings down its budget later this year.

The demand for land in southeast Queensland had contributed to the valuation rise, Valuer-General Laura Dietrich said.

“Rates are set by councils when they determine annual budgets, not the Valuer-General.

“Local governments have wide-ranging powers including managing, setting and capping rates.”

Reaction on social media has indicated Fraser Coast homeowners are worried about how high their rates bill might rise.

“Just got a land valuation of 40%. Guess rates go up with that? Councillors looking for another pay raise,” said Casey Robinson.

“We have received our new land valuation. It has jumped by $118,500 from last year. Get ready for another big jump in rates,” said Jeanette Theodore.