Land values in the Bellingen local government area
North Coast region
General overview
There has been a moderate increase in land values in the Bellingen local government area between 2017 and 2018. This trend was consistent across most classes of property in the residential, commercial and industrial market sectors. Rural land values have shown a strong increase driven primarily by continued high demand for quality property on the sought after and tightly held Dorrigo Plateau.
Sustained levels of demand from both local and out of area purchasers seeking affordable property offering good coastal and rural amenity, close to the regional centre of Coffs Harbour, has underpinned market movements within the Bellingen local government area.
Additionally, the recent completion of Pacific Highway Upgrades between the major regional centres of Coffs Harbour and Port Macquarie now completes divided dual carriage motorway conditions south to Sydney. This has significantly reduced travel times, improved road safety and enhanced the general accessibility of the region.
Land value trends
| Property zone | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Residential | $1,052,056,021 | $1,128,626,161 | 7.3% |
| Commercial | $49,427,520 | $53,374,030 | 8.0% |
| Industrial | $10,450,900 | $11,306,100 | 8.2% |
| Rural | $706,133,860 | $778,197,420 | 10.2% |
| Other | $58,782,940 | $62,205,140 | 5.8% |
| Total | $1,876,851,241 | $2,033,708,851 | 8.4% |
Number of properties by zone
Total number of properties: 6,176
Residential land values
Residential overview
There has been a moderate increase in residential land values across most localities within the Bellingen local government area between 2017 and 2018. The market continues to be driven by sustained levels of demand from both local and out of area purchasers seeking affordable property offering good coastal and rural amenity, close to the regional centre of Coffs Harbour.
Land values for rural-residential properties in central Bellinger Valley localities and fringing Bellingen township have remained steady following easing demand and periods of stronger growth that prevailed through 2016 and 2017.
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 |
|---|---|---|---|
| Braithwaite Ave, Bellingen | $250,000 | $260,000 | 4.0% |
| Rigney Dr, Brierfield | $330,000 | $330,000 | 0.0% |
| Darkwood Rd, Darkwood | $320,000 | $355,000 | 10.9% |
| Elm Ave, Dorrigo | $145,000 | $160,000 | 10.3% |
| Myrtle St, Dorrigo | $105,000 | $115,000 | 9.5% |
| Hyde St, Fernmount | $220,000 | $255,000 | 15.9% |
| Azalea Ave, Mylestom | $320,000 | $350,000 | 9.4% |
| Ridgewood Dr, Raleigh | $290,000 | $315,000 | 8.6% |
| Crescent St, Urunga | $225,000 | $245,000 | 8.9% |
| Newry Island Dr, Urunga | $175,000 | $200,000 | 14.3% |
| Newry Island Dr, Urunga | $245,000 | $275,000 | 12.2% |
Commercial land values
Commercial overview
Commercial property within the Bellingen local government area experienced moderate increases in land values from 2017 to 2018.
Established commercial precincts within central Bellingen and Dorrigo township localities experienced moderate increases in land values reflecting continued good levels of demand for a comparatively low and historically inconsistent supply of quality property entering the market.
Commercial property land values in the coastal township of Urunga have shown a moderate increase in a trend closely mirroring that of the surrounding residential property sector.
Typical commercial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Church St, Bellingen | $259,000 | $284,000 | 9.7% |
| Wheatley St, Bellingen | $150,000 | $155,000 | 3.3% |
| Hickory St, Dorrigo | $86,000 | $95,000 | 10.5% |
| Bonville St, Urunga | $430,000 | $450,000 | 4.7% |
Industrial land values
Industrial overview
There has been a moderate increase in industrial land values within the Bellingen local government area over the 2017 to 2018 period. This trend has been driven primarily by increased demand from purchasers attracted by relatively low industrial land values in comparison to those of the nearby major regional centre of Coffs Harbour.
Decreased travel times and improvements in accessibility attributable to recent Pacific Highway upgrades have also supported increased levels of demand in this sector of the market.
Typical industrial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Hydro St, Dorrigo | $80,000 | $86,000 | 7.5% |
| Alex Pike Dr, Raleigh | $180,000 | $195,000 | 8.3% |
Rural land values
Rural overview
The rural land market within the Bellingen local government area has shown a strong increase in value levels over the period 2017 to 2018, with recorded increases being reasonably consistent across most classes of rural property.
Continued high demand for good quality rural property holdings on the historically sought after and tightly held Dorrigo Plateau, has resulted in strong land value increases being recorded for this locality.
Typical rural land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| North Bank Rd, Bellingen | $550,000 | $605,000 | 10.0% |
| Shephards Rd, Bielsdown Hills | $790,000 | $907,000 | 14.8% |
| Waterfall Way, Deer Vale | $150,000 | $165,000 | 10.0% |
| Gordonville Rd, Gleniffer | $300,000 | $315,000 | 5.0% |
| Roses Rd, Gleniffer | $380,000 | $400,000 | 5.3% |
| Mackays Creek Rd, Megan | $150,000 | $165,000 | 10.0% |
| Slingsbys Rd, Megan | $497,000 | $570,000 | 14.7% |
| Summervilles Rd, Thora | $440,000 | $484,000 | 10.0% |
| Valery Rd, Valery | $280,000 | $295,000 | 5.4% |
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.