Land values in the Dungog local government area
Hunter region
General overview
There was a slight increase in overall land values in the Dungog local government area between 2017 and 2018. This slight increase was consistent across the commercial, industrial and rural market segments.
Residential land values increased moderately overall which was driven by new land releases in Clarence Town and Paterson villages.
Land value trends
| Property zone | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Residential | $452,704,911 | $487,718,981 | 7.7% |
| Commercial | $17,235,260 | $17,893,100 | 3.8% |
| Industrial | $2,788,650 | $2,871,240 | 3.0% |
| Rural | $908,221,731 | $936,445,111 | 3.1% |
| Other | $25,555,482 | $25,661,302 | 0.4% |
| Total | $1,406,506,034 | $1,470,589,734 | 4.6% |
Number of properties by zone
Total number of properties: 5,196
Residential land values
Residential overview
Residential land values increased moderately between 2017 and 2018. This was driven by new land releases in Clarence Town and Paterson villages and improved road infrastructure to Raymond Terrace and Maitland commercial precincts.
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 |
|---|---|---|---|
| Ironbark Dr, Clarence Town | $259,000 | $284,000 | 9.7% |
| Russell St, Clarence Town | $138,000 | $152,000 | 10.1% |
| Brown St, Dungog | $155,000 | $160,000 | 3.2% |
| Mackay St, Dungog | $102,000 | $105,000 | 2.9% |
| Grace Ave, Martins Creek | $97,000 | $102,000 | 5.2% |
| Albert St, Paterson | $155,000 | $167,000 | 7.7% |
| Lomandra Cct, Paterson | $252,000 | $277,000 | 9.9% |
Commercial land values
Commercial overview
The slight increase in commercial land values was experienced within both the Dungog township and Clarence Town village. This was primarily driven by demand from buyers outside the local government area.
Typical commercial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Grey St, Clarence Town | $149,000 | $157,000 | 5.4% |
| Dowling St, Dungog | $100,000 | $103,000 | 3.0% |
Industrial land values
Industrial overview
The industrial market segment experienced a slight increase from 2017 to 2018. The sector is small and tightly held with purchasers being predominately from the local market.
Typical industrial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Hooke St, Dungog | $69,100 | $71,200 | 3.0% |
Rural land values
Rural overview
Rural land values increased slightly from 2017 to 2018. The most significant growth was experienced in the small to medium hobby farm market segment, south of the Dungog township. This was driven primarily from buyers from outside the local government area.
Typical rural land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Chichester Dam Rd, Bandon Grove | $60,200 | $62,000 | 3.0% |
| Salisbury Rd, Bendolba | $64,400 | $67,600 | 5.0% |
| Clarence Town Rd, Brookfield | $254,000 | $264,000 | 3.9% |
| Clements Rd, East Gresford | $282,000 | $301,000 | 6.7% |
| Clements Rd, East Gresford | $342,000 | $353,000 | 3.2% |
| Fosterton Rd, Fosterton | $635,000 | $635,000 | 0.0% |
| Glendonbrook Rd, Gresford | $412,000 | $433,000 | 5.1% |
| Paterson River Rd, Gresford | $248,000 | $261,000 | 5.2% |
| Allyn River Rd, Halton | $823,000 | $823,000 | 0.0% |
| Black Rock Rd, Martins Creek | $90,000 | $93,600 | 4.0% |
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.