Land values in the Cessnock local government area
Hunter region
General overview
There was a moderate increase in land values in the Cessnock local government area between 2017 and 2018, which was consistent across the residential and industrial market segments.
Commercial land values showed a slight increase overall, while rural land values showed a strong increase.
Growth has been driven by strong demand for housing at an affordable level and road and infrastructure improvements.
Land value trends
| Property zone | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Residential | $3,346,955,360 | $3,579,915,800 | 7.0% |
| Commercial | $87,937,300 | $90,383,070 | 2.8% |
| Industrial | $65,835,000 | $71,960,710 | 9.3% |
| Rural | $1,542,085,572 | $1,741,007,762 | 12.9% |
| Other | $211,494,891 | $233,889,541 | 10.6% |
| Total | $5,254,308,123 | $5,717,156,883 | 8.8% |
Number of properties by zone
Total number of properties: 25,760
Residential land values
Residential overview
Residential land values increased moderately in the Cessnock local government area. The moderate increase can be attributed to strong demand for new and established housing within the Hunter region from owner occupiers and investors and local infrastructure improvements. The most significant suburbs of growth include Aberdare, Cessnock, Neath, Abermain and Weston.
Land values remained steady in the emerging town of Huntlee, residential localities of Heddon, Greta and Cliftleigh and properties zoned for medium density development due to well balanced supply and demand.
Median land values and sale prices
The above chart shows movement in the property market and land values over a five year period. In areas where there are a low number of sales, median sale prices may not accurately reflect the property market. Land values may not always move directly in line with sale prices due to the influence of other factors, such as building costs.
Typical residential land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Rawson St, Aberdare | $145,000 | $160,000 | 10.3% |
| Charles St, Abermain | $135,000 | $152,000 | 12.6% |
| Doyle St, Bellbird | $675,000 | $725,000 | 7.4% |
| Kendall St, Bellbird | $1,150,000 | $1,250,000 | 8.7% |
| Mathieson St, Bellbird | $135,000 | $150,000 | 11.1% |
| Russell St, Branxton | $166,000 | $171,000 | 3.0% |
| Winepress Rd, Branxton | $750,000 | $900,000 | 20.0% |
| Catherine St, Cessnock | $144,000 | $144,000 | 0.0% |
| Cornish St, Cessnock | $147,000 | $157,000 | 6.8% |
| Cumberland St, Cessnock | $200,000 | $205,000 | 2.5% |
| Oakey Creek Rd, Cessnock | $212,000 | $245,000 | 15.6% |
| Stephen St, Cessnock | $300,000 | $330,000 | 10.0% |
| Traminer Gr, Cessnock | $175,000 | $181,000 | 3.4% |
| Taminga Rd, Cliftleigh | $181,000 | $181,000 | 0.0% |
| Franks Cl, East Branxton | $159,000 | $173,000 | 8.8% |
| Price St, Greta | $137,000 | $148,000 | 8.0% |
| Allandale St, Kearsley | $142,000 | $152,000 | 7.0% |
| Richmond St, Kitchener | $133,000 | $159,000 | 19.6% |
| Hughes Cl, Kurri Kurri | $520,000 | $550,000 | 5.8% |
| Lang St, Kurri Kurri | $208,000 | $235,000 | 13.0% |
| Maitland St, Kurri Kurri | $161,000 | $165,000 | 2.5% |
| Wollombi Rd, Millfield | $245,000 | $285,000 | 16.3% |
| Maitland Rd, Mulbring | $750,000 | $825,000 | 10.0% |
| Cessnock Rd, Neath | $123,000 | $135,000 | 9.8% |
| Newsham St, North Rothbury | $179,000 | $184,000 | 2.8% |
| Parnell Rd, North Rothbury | $162,000 | $167,000 | 3.1% |
| Thomas St, North Rothbury | $138,000 | $148,000 | 7.3% |
| Wine Country Dr, North Rothbury | $1,250,000 | $1,500,000 | 20.0% |
| Boreas St, Nulkaba | $440,000 | $485,000 | 10.2% |
| Wallsend St, Stanford Merthyr | $160,000 | $170,000 | 6.3% |
| Eighth St, Weston | $132,000 | $152,000 | 15.2% |
| Second St, Weston | $150,000 | $160,000 | 6.7% |
| Station St, Weston | $135,000 | $150,000 | 11.1% |
| Woodlands Dr, Weston | $260,000 | $280,000 | 7.7% |
Commercial land values
Commercial overview
There was a slight increase in commercial land values between 2017 and 2018, which can be attributed to positive influence from road and infrastructure projects in this locality.
Typical commercial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Maitland St, Branxton | $141,000 | $150,000 | 6.4% |
| Vincent St, Cessnock | $195,000 | $195,000 | 0.0% |
| Vincent St, Cessnock | $422,000 | $422,000 | 0.0% |
| Wollombi Rd, Cessnock | $155,000 | $155,000 | 0.0% |
| Anvil St, Greta | $140,000 | $148,000 | 5.7% |
| Lang St, Kurri Kurri | $165,000 | $170,000 | 3.0% |
| Cessnock Rd, Weston | $95,000 | $110,000 | 15.8% |
Industrial land values
Industrial overview
Industrial land values increased moderately between 2017 and 2018 with good demand from owner occupiers and upturn in the coal mining industry. Industrial properties in the Hunter economic zone remained steady with no demand in this location.
Typical industrial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Maitland St, Branxton | $170,000 | $180,000 | 5.9% |
| Maitland Rd, Cessnock | $290,000 | $320,000 | 10.3% |
| Mitchell Ave, Kurri Kurri | $499,000 | $609,000 | 22.0% |
| Wermol St, Kurri Kurri | $200,000 | $220,000 | 10.0% |
| Leggetts Dr, Pelaw Main | $800,000 | $800,000 | 0.0% |
Rural land values
Rural overview
Rural land values in the Cessnock local government area have shown a strong increase between 2017 and 2018 which can be attributed to improvements to road and infrastructure projects in this locality. Demand remains strong for smaller rural lifestyle and hobby farm properties.
Demand remains limited for rural zoned community titled properties which increased slightly.
Typical rural land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Old Maitland Rd, Bishops Bridge | $390,000 | $435,000 | 11.5% |
| Listers Lane, Congewai | $668,000 | $742,000 | 11.1% |
| Wallaby Gully Rd, Ellalong | $445,000 | $518,000 | 16.4% |
| Elrington Dr, Elrington | $495,000 | $550,000 | 11.1% |
| Upper Yango Creek Rd, Laguna | $247,000 | $274,000 | 10.9% |
| Woody Arm Rd, Laguna | $260,000 | $295,000 | 13.5% |
| Ellalong Rd, Pelton | $118,000 | $128,000 | 8.5% |
| Mcdonalds Rd, Pokolbin | $100,000 | $103,000 | 3.0% |
| Whitings Lane, Quorrobolong | $414,000 | $520,000 | 25.6% |
| Wollong Rd, Quorrobolong | $300,000 | $345,000 | 15.0% |
| Deaseys Rd, Rothbury | $555,000 | $620,000 | 11.7% |
| The Ballabourneen , Rothbury | $293,000 | $325,000 | 10.9% |
| Narone Creek Rd, Wollombi | $315,000 | $340,000 | 7.9% |
Added value of improvement tables
The added value of improvement tables show dollar values per square metre for the added value of improvements for the main residential property types in a local government area. It is the value the improvements add to the value of the land as demonstrated by the analysis of property sales.