Valuer General delivers report on Central Queensland land values in March

The Valuer-General last put prices on land in the Banana Shire in 2018, plus Rockhampton and Livingstone in 2017.

Primary producers were the biggest winners in the latest Valuer-General’s report of CQ land values.

Landowners in many Central Queensland areas are set to receive their new land valuations this month, with local economic conditions reflecting mixed fortunes both on the coast and inland.

The Valuer-General’s Property Market report details the CQ areas that were valued most recently - Banana Shire, Rockhampton and Livingstone Shire.

The best overall news from the report was for primary producers, whose land value increased in all three regions, while pockets of the residential market saw rises in Rockhampton and Yeppoon only.

Land used for primary production in Banana Shire, Rockhampton and Livingstone Shire all increased in value according to the Valuer-General’s latest report.

Last valued in 2017, both Rockhampton and Livingstone Shire areas saw slight overall declines in land values, due to local economic conditions, but there were some increases.

“Residential values in Yeppoon, as well as Pacific Heights and Barlows Hill have increased slightly,” the report stated.

“Similar to Livingstone Shire, value changes varied depending on locality.

“For example, the values for Gracemere residential and riverfront multiunit residential property saw moderate to significant increases, while the localities of Bajool and Stanwell had

significant falls.

“The statutory values in Livingstone Shire have declined overall slightly since the last valuation.

“This change was influenced by the residential, multi-unit residential and rural residential sectors where values fell slightly.

“Rockhampton Regional Council has seen a minor overall decline in the total statutory values since the last valuation.

“The overall change was influenced by the minor value decreases in the residential, multi-unit residential and rural residential sectors.”

Residential land in Yeppoon and Gracemere increased in value according to the Valuer-General’s latest report.

In both Rockhampton and Livingstone Shire, the Valuer General reported slight reductions in commercial land values, while industrial land values fell slightly on the coast, but by a larger amount around the beef capital.

Banana Shire land values were last done in 2018, and since that the region has seen a moderate overall increase, with decreases in value in bigger towns.

“The overall change was significantly influenced by the moderate increases in primary

production values, consistent with state wide trends,” the report stated.

“Residential values within many of the smaller townships remained static, while the larger townships, including Biloela and Moura, decreased moderately to significantly in value.”

Land value breakdown

Residential (median value) Rural Residential (median value)

Banana $51,000 down 20.3 per cent $64,000 down 13.5 per cent

Livingstone $128,000 down 0.8 per cent $162,500 down 5.8 per cent

Rockhampton $99,000 down 5.7 per cent $130,000 down 7.1 per cent

Multi Unit (new total value) Commercial (new total value)

Banana $2,705,500 down 19.9 per cent $15,631,500 down 6.0 per cent

Livingstone $77,639,500 down 5.9 per cent $70,927,300 down 8.6 per cent

Rockhampton $133,881,200 down 6.5 per cent $430,100,500 down 4.3 per cent

Industrial (new total value) Primary Production (new total value)

Banana $34,640,200 down 10.3 per cent $1,706,089,600 up 26.3 per cent

Livingstone $48,656,000 down 9.9 per cent $265,417,400 up 10.3 per cent

Rockhampton $184,944,570 down 18.9 per cent $290,648,400 up 10.0 per cent