Rodney Stevens

Landholders across the Clarence Valley will see some of the highest increases in land value on the North Coast with residential land up more than 46 per-cent when they receive their land valuation notice in the coming weeks.

Land values for the North Coast region at July 1, 2022, were published by the NSW Valuer General on Thursday.

“Land value is the value of the land only, it does not include the value of a home or other structure,” the Valuer General said.

“Property sales are the most important factor valuers consider when determining land values.”

The NSW Valuer General classifies the North Coast as Ballina, Bellingen, Byron, Clarence Valley, Coffs Harbour, Kempsey, Kyogle, Lismore, Mid-Coast, Nambucca, Port Macquarie-Hastings, Richmond Valley and Tweed local government areas.

“Councils receive new land values for rating at least every three years and land values are one factor used by councils to calculate rates,” the Valuer General said.

“Landholders will receive a Notice of Valuation showing their land value before it is used by council for rating.

“Notices will be issued from January 2023; this gives landholders time to consider their land value.”

Between July 1, 2021 and 2022, the total land value for the North Coast NSW region increased by 35.9 per-cent, from $116 billion to $158 billion.

“Residential land values increased 36.8 per-cent overall,” the Valuer General said.

“Demand for rural villages, hinterland and beachside locations continue as sea and tree changers relocate to work remotely.

“This trend was particularly evident in Coffs Harbour 46.7 per-cent, Port Macquarie 38 per-cent and the Clarence Valley 46.5 per-cent.”

The Clarence Valley also benefitted from a significant rise in commercial land value.

“Commercial land values increased 24.1 per-cent overall,” the Valuer General said.

“Relative affordability contributed to Bellingen 56.7 per-cent and the Clarence Valley 40 per-cent experiencing the strongest increases.

“Lismore saw a 23.9 per-cent decrease after the 2022 floods significantly impacted the area, with the entire CBD being inundated.”

The highest rise in land values experienced in the Clarence Valley was for industrial land, which skyrocketed more than 100 per-cent.

“Industrial land values increased by 29.6% overall,” the Valuer General said.

“The Clarence Valley 122.5 per-cent saw heightened demand for a limited supply of affordable fringe industrial land around Grafton and Yamba.”

To find out more about land values along with information on trends, medians and typical land values for each local government area visit  www.valuergeneral.nsw.gov.au