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Property Values Dip In Goomeri

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Goomeri's historic war memorial ... Goomeri and Kilkivan have had minor reductions in residential land values over the past two years, but rural property prices have stayed flat or risen slightly

March 8, 2017

Land valuations for 28 Queensland shires will be released this week by the Valuer-General, including valuations for the towns of Goomeri and Kilkivan in the Gympie Regional Council area.

There’ll be no information for the South Burnett or Toowoomba Local Government Areas as valuations for these regions were released last year.

However, South Burnett residents may be able to get a guide to what’s happening locally by studying the valuations from the council areas surrounding the South Burnett (see excerpts from Valuer-General Neil Bray’s report below).

In his “2017 Property Market Movement Report”, Mr Bray said increased confidence within rural markets had led to moderate increases in valuations across the State, with some minor increases in south-east Queensland.

“Continued high commodity prices within the beef industry and continued low interest rates are driving this confidence, even though the majority of the State remains drought declared,” he said.

* * *

Gympie Regional Council – The Gympie region has seen an overall minor increase in total land value since the last valuation in 2015 due primarily to improved residential land values in and around Gympie as well as a strengthening rural home site and farming market in the eastern and southern localities.

Residential land values in Gympie and Southside have had a minor increase, while the coastal centre of Tin Can Bay is unchanged. Rainbow Beach and Cooloola Cove have had minor decreases.

Hinterland towns are generally static, however Goomeri and Kilkivan have had minor reductions in residential land values.

Commercial and industrial land values in Gympie generally remained unchanged.

Rural homesite values generally mirrored the changes in the urban areas with minor increases in value in the Gympie region, predominately around the main urban centres and in the Mary Valley.

Areas west of Bells Bridge had minor to moderate changes in values reflecting local sales evidence. Far western areas around Kilkivan and Goomeri are generally unchanged.

Farming activities such as cattle, small crops and tree crops are significant enterprises in the Gympie area. Rural land values generally increased in the eastern sector of Gympie region while the larger grazing lands to the west were unchanged.

* * *

North Burnett Regional Council – The urban market in the North Burnett continued to weaken since the last valuation in 2014, a reflection of local market conditions.

Since that time residential activity has declined with minor to moderate falls in land values in most urban centres, however Mundubbera and Monto land values remained static.

Industrial, retail and other commercial activity has been largely subdued across the region as a reflection of local market conditions. This subdued activity has seen minor to moderate falls in land value in Eidsvold, Mount Perry and Biggenden, while Mundubbera and Gayndah are static.

Rural residential values within the North Burnett were generally static with some minor decreases in land values in the Eidsvold and Mount Perry localities.

Demand typically focuses on smaller sites around the major centres, but current market evidence indicates a demand for mid-size sites suitable for minor farming activities.

Farming values have seen a minor increase across the region on the back of good sales evidence in the grazing and agricultural sectors.

The market for small to medium sized grazing properties … remains fairly strong while the market for larger holdings has rallied on the back of strong beef prices and good seasons in comparison with much of Australia.

[UPDATED]


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