3 Gympie region towns where values have skyrocketed
THE Mary Valley has become Gympie's property gold mine with the median property value jumping by more than 70 per cent in the latest State Government land valuation.
Under the new residential values handed down yesterday the median average at Dagun and Kandanga surged from $41,500 to $75,000, a rise of 70.5 per cent.
Amamoor had the next biggest hop in value, up 70.5 per cent from $44,000 to $75,000.
Imbil was the only place which did not shift, staying at an average of $87,000.
Property values at Traveston, Woolooga, Neerdie and Gunalda all rose more than 10 per cent.
In Gympie the average property jumped from $81,000 to $87,000 (a 7.4 per cent rise) and Southside residential properties increased from $107,000 to $115,000.
On the coast the rural average moved from between 3.5 per cent (Rainbow Beach) to 5.1 per cent (Tin Can Bay).
Across all residential areas in the Gympie Regional Council area the median value jumped 6.8 per cent, up from $88,000 to $94,000.
Queensland's Valuer-General Neil Bray said the region was up as much as 9.9 per cent overall since the last valuations in 2017.
"Residential values have generally increased in most urban centres while commercial and industrial areas remained generally static,'' Mr Bray said.
"The small villages of Amamoor, Dagun and Kandanga within the Mary Valley have seen significant increases which reflect the local sales evidence and the low existing value base.
"The rural residential and farming markets increased with the median residential land value showing a minor increase to $94,000 reflecting the rising land values in centres such as Gympie, Tin Can Bay and Cooloola Cove.
"Median values in the coastal centres have all increased with Rainbow Beach rising slightly to $225,000, and Tin Can Bay rising to $123,000,” Mr Bray said.
Multi-unit land values mirrored the changes to residential land with a minor increase, growing 7 per cent from a total land value of $34.07 million to $36.45 million.
The land valuations are used by councils as a guide for how much to charge in rates.
State land tax and land rental amounts are also calculated off them.
The rural residential property value jumped 10.3 per cent from $126,000 to $139,000.
Strong demand for large and small sized properties is behind this change, a Department of Natural Resources, Mines and Energy spokesman said.
The new valuations come into effect on June 30.
Mr Bray said those who believe their valuation should be different are welcome to submit their objection.
"I encourage landowners who believe they have additional or new evidence which may alter their new valuation to provide this information through the online objections process via www.qld.gov.au/
landvaluation or at the address shown at the top of their valuation notice by 7 May 2019,” he said.
There were 4440 Gympie properties valued, and 2158 on the Southside. The smallest areas were Kinbombi (two), Cinnebar (eight), and Araluen and Dagun with nine each.
Gympie region values at a glance
Changes in residential medians as of June 30, 2019.
- 70 per cent-plus: Amamoor ($44k to $75k), Kandanga and Dagun ($41.5k to $71k)
- 9-11 per cent: Gunalda ($48k to $53k), Kilkivan ($40.5k to $44.5k), Neerdie ($39k to $43k), Traveston ($46k to $51k), Woolooga ($19k to $21k)
- 6-8 per cent: Araluen ($114k to $123k), Gympie ($812k to $87k), Jones Hill ($108k to $116k), Southside ($107k to $115k), Victory Heights ($73k to $78k)
- 3-6 per cent: Cooloola Cove ($80k to $84k), Monkland ($73k to $76k), Rainbow Beach ($217.5k to $225k), Tin Can Bay ($117k to $123k),
- No change: Brooloo ($69k), Cinnabar ($5k), Goomeri ($31.5k), Imbil ($87k), Kinbombi ($5k) Tansey ($17.5k), Theebine ($35k)