Lismore land values soar
By RACHEL SCOLLAY
CLUNES resident Libby Trevaskis laughed nervously when she opened the mail yesterday to find her property had jumped from $61,000 to $104,000 in the lastest round of government valuations.
With its proximity to the coast, residential land in Clunes has borne the brunt of the Lismore residential rise, with an average increase of 215 per cent.
Next on the list were Nimbin and East Lismore, which both recorded a 150 per cent increase.
The total land value for Lismore is now $2 billion, compared with $1.1 billion three years ago.
"I don't want to get my next rates notice," said Libby, a concern echoed by many anxious ratepayers who want- ed to know how the news would affect their pocket.
Anne Whitta bought her land in Clunes 23 years ago for $7500.
Yesterday, the Valuer-General informed her it was now worth $147,000, up from $47,000 three years ago.
She said the shortage of available land in Clunes was undoubtedly a factor in the dramatic increase.
"I don't think they can subdivide any more land in Clunes," she said.
"I feel really sorry for young people.
"How are they ever going to have blocks of land and houses?"
Real estate agent from the Bangalow Professionals, Mark Kinneally, said he was continually surprised at the prices now achieved in Clunes.
A 1000sq/m block on the main road recently sold for $165,000, while a two-bedroom house fetched $425,000.
"That's big money," he said.