Land value stickybeak: how do you compare?

LISMORE has taken a modest boost compared to the 17.85% increase Byron Bay residential land values had last financial year.

Valuer-General figures reveal median residential land prices increased 4.42% to $118,000 in Lismore.

Byron Bay was the pick of the North Coast litter, with residential land prices reaching a median of $385,000.

The whole of the North Coast fared well in the annual valuation, with Ballina achieving a 6.06% annual upsurge to $245,000.

Land values across New South Wales are now tipping more than $1.34 trillion - a 19.6% growth rate on last financial year's $1.12 trillion total.

But Sydney suburbs Parramatta (35.9%), Blacktown (47%) and Holroyd (28%) recorded the strongest growth of any local government areas.

The prices only cover land values without taking into account the value of the home or other improvements.

NSW Valuer-General Simon Gilkes said the valuations allowed councils to determine the amount of council rates landholders would pay in 2016.

"While important, valuations are only one of the factors councils use to determine each landholder's rating liability," he said.

"Increases or decreases in land values do not necessarily lead to similar increases or decreases in rates."

The assessment process covered more than 2.5 million residential, rural, business and industrial properties across the state, with landowners in 47 local government areas to receive valuation notices based on market conditions as at July 1, 2015.

CLARENCE VALLEY

Median residential - $114,000 (+0.88%)

Median business - $131,500 (+0.38%)

Median industrial - $132,000 (+0%)

Median rural - $156,000 (+5.41%)

BYRON

Median residential - $383,000 (+17.85%)

Median business - $690,000 (+20%)

Median industrial - $465,000 (+20.16%)

Median rural - $479,000 (+6.21%)

LISMORE

Median residential - $118,000 (+4.42%)

Median business - $131,000 (+0%)

Median industrial - $121,000 (+3.42%)

Median rural - $217,000 (+4.83%)

BALLINA

Median residential - $245,000 (+6.06%)

Median business - $360,000 (+0%)

Median industrial - $317,000 (+0%)

Median rural - $361,000 (+4.34%)



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