High cattle prices and low interest rates lift rural real estate
PROPERTIES in "parts" of the Gympie region have shown minor increases in rural values, according to new valuation notices issued today by the Queensland Valuer General.
Almost 88,000 properties zoned rural throughout Queensland in the Gympie region and other local government area have been revalued this year.
Valuer-General Neil Bray said the valuations reflected land values on October 1, 2016 and echoed the improved confidence conditions that surrounded the rural land market last year.
"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," Mr Bray said.
"However, it is expected that potential purchasers will remain cautious for some time until there is an improvement in the current weather conditions.
"Increases in rural values are generally occurring throughout the majority of local authorities being revalued across Queensland with sales across Croydon and Carpentaria shires and Balonne Shire Council having generally shown significant increases.
"Generally, moderate increases occurred in the grazing areas of Whitsunday Regional Council, throughout Cassowary Coast Regional Council, Barcaldine Regional Council, Blackall-Tambo Regional Council, Rockhampton Regional Council, Livingstone Shire Council, Gladstone Regional Council, Goondiwindi Regional Council, Western Downs Regional Council, Southern Downs Regional Council and Maranoa Regional Council and in the larger grazing areas of Mareeba Shire and Tablelands Regional Council.
"Minor increases occurred in Central Highlands, Bundaberg Regional Council, North Burnett Regional Council, the Kilcoy area of Somerset Regional Council and parts of Gympie Regional Council, while the sugar cane markets of Mackay and Whitsunday remained static.
"Significant reviews of all rural valuations have been undertaken within the Balonne Shire and the western area of Goondiwindi Regional Council to improve relativity between valuations.
"These market based reviews have resulted in varied changes to valuations being issued.
"It is important to note that sales of rural land purchased by resource companies for the purpose of mining or other extractive industries are not used to determine statutory land values of rural land."
For the 2017 valuation, the local government areas with a large rural component are Balonne, Barcaldine, Blackall Tambo, Bundaberg, Carpentaria, Cassowary Coast, Central Highlands, Croydon, Gladstone, Goondiwindi, Gympie, Livingstone, Mackay, Maranoa, Mareeba, Moreton Bay, North Burnett, Rockhampton, Somerset, Southern Downs, Tablelands, Western Downs and Whitsunday.
Mr Bray said landowners could access online the very latest land valuations information.
"The Land Valuations on Queensland Globe gives landowners access to detailed valuation information allowing users to search for a property or pan the map to areas of interest and zoom down to individual property level," he said.
"Landowners can access the Land Valuations Globe on the Land Valuations website - www.qld.gov.au/landvaluation
"Landowners can also have future valuation notices and other valuation information sent to them by email by visiting the Land Valuations website or calling 1300 664 217."
Mr Bray said it was important that landowners realised that valuation notices were not rates notices.
"Rates are set by local governments under the Local Government Act 2009 or the City of Brisbane Act 2010 when they determine their annual budgets," he said.
"They are based on a number of factors - valuations are only one of those factors."
Mr Bray said landowners who believed their valuation was incorrect, and could provide information to support this, could lodge their objection on the DNRM website or at the address shown at the top of their valuation notice by 8 May 2017.
"Landowners without internet access can get an objection kit that includes a step-by-step guide by phoning 1300 664 217," he said.
"The list of Queensland's statutory land valuations for 2017 can be viewed on the Land Valuations website until 6 June 2017 - allowing landowners to compare their valuations with others in their area.
"Hard copies of the valuation list can be viewed at Department of Natural Resources and Mines business centres and local government offices during normal business hours until close of business on 6 June 2017.
"A rural sales map for larger rural shires is available online and at selected locations to assist landowners."