From the Newsroom

Land values soar in Lower Clarence

Rodney Stevens


Land valuations from the NSW Valuer General’s department have recently hit letterboxes across the Clarence Valley with some ratepayers reporting increases of more than 50 per-cent on residential land in the Lower Clarence.

Across the North Coast region Local Government Areas LGA’s of Ballina, Bellingen, Byron, Clarence Valley, Coffs Harbour, Kempsey, Kyogle, Lismore, MidCoast, Nambucca, Port Macquarie-Hastings, Richmond Valley and Tweed, total land value increased by 35.9 per-cent between July 1, 2021 and July 1, 2022 from $116 billion to $158 billion.

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

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

The land value calculation is based on factors such as recent sales evidence, land use, zoning restrictions and nearby amenities. 

One Yamba resident who contacted the CV Independent saw their land value rise $321,000 between 2019 and 2022, to $710,000.

According to the Clarence Valley Council website, “Your land rates are based on the property land values in your area, and determined in accordance with the Local Government Act 1993.”

“Base rates enable each property to pay a similar amount for basic service provision, together with the calculated ad valorem amount.

“The ad valorem amount is based on the unimproved value of the land and does not include the value of your house, buildings, or other improvements to the land.”

The Clarence Valley saw the second highest increase in residential land values on the North Coast of 46.5 per-cent, just behind Coffs Harbour.

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

Commercial land in the Clarence Valley also saw the second highest increase on the North Coast with a 40 per-cent rise.

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

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

With industrial land at a premium in the Clarence Valley, this land type saw the highest increase in any area across the North Coast LGA.

“Industrial land values increased by 29.6 per-cent overall,” the spokesperson said.

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

Meanwhile, rural land values increased 37.4 per-cent as strong commodity prices drove demand for quality agricultural land with reliable water and resulted in increases regionwide.

Landholders who disagree with their land valuation can lodge an objection with the Valuer General at: within 60 days.