Land values in the Richmond Valley local government area
North Coast region
General overview
Land values in Richmond Valley local government area increased moderately between 2017 and 2018, with this trend consistent across all market segments, with the exception of industrial land values which showed a very strong increase.
Land values continued to be influenced by demand from out of area purchasers and greater affordability compared with other northern localities.
Land value trends
| Property zone | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Residential | $969,909,710 | $1,022,556,480 | 5.4% |
| Commercial | $56,825,960 | $59,799,870 | 5.2% |
| Industrial | $32,888,540 | $42,314,400 | 28.7% |
| Rural | $749,310,290 | $797,593,880 | 6.4% |
| Other | $21,957,840 | $23,070,840 | 5.1% |
| Total | $1,830,892,340 | $1,945,335,470 | 6.3% |
Number of properties by zone
Total number of properties: 10,302
Residential land values
Residential overview
Residential land values consistently increased at a moderate rate with a stronger market than recent years. This trend continues to be driven by demand from out of area buyers for affordable properties within commuting distance of Brisbane.
The only areas not following this trend were the villages of Rappville and Whiporie, which remained steady, having reduced demand due to their remote locations and limited services in comparison to other villages.
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 |
|---|---|---|---|
| Mcdonald St, Broadwater | $139,000 | $145,000 | 4.3% |
| Pacific Hwy, Broadwater | $142,000 | $145,000 | 2.1% |
| Boronia Cres, Casino | $85,000 | $90,000 | 5.9% |
| Canning Dr, Casino | $105,000 | $110,000 | 4.8% |
| Canterbury St, Casino | $105,000 | $110,000 | 4.8% |
| Centre St, Casino | $165,000 | $175,000 | 6.1% |
| Fergusson St, Casino | $85,000 | $90,000 | 5.9% |
| Frederick St, Casino | $114,000 | $120,000 | 5.3% |
| Lakeside Dr, Casino | $125,000 | $130,000 | 4.0% |
| Laurel Ave, Casino | $94,000 | $100,000 | 6.4% |
| Mcauliffe St, Casino | $98,000 | $105,000 | 7.1% |
| Teak St, Casino | $99,900 | $105,000 | 5.1% |
| Richmond Tce, Coraki | $64,500 | $70,000 | 8.5% |
| Richmond Tce, Coraki | $85,000 | $90,000 | 5.9% |
| Richmond Tce, Coraki | $89,800 | $100,000 | 11.4% |
| Richmond Tce, Coraki | $126,000 | $140,000 | 11.1% |
| Anson Ave, Evans Head | $265,000 | $285,000 | 7.6% |
| Cassia St, Evans Head | $260,000 | $280,000 | 7.7% |
| Heath St, Evans Head | $323,000 | $340,000 | 5.3% |
| Heath St, Evans Head | $333,000 | $340,000 | 2.1% |
| Wirraway Ave, Evans Head | $364,000 | $370,000 | 1.7% |
| Brumby Pl, North Casino | $158,000 | $170,000 | 7.6% |
| Murray St, Rappville | $21,700 | $21,700 | 0.0% |
| Hills Rd, Rileys Hill | $135,000 | $145,000 | 7.4% |
| Richmond St, Woodburn | $131,000 | $140,000 | 6.9% |
| River St, Woodburn | $111,000 | $120,000 | 8.1% |
Commercial land values
Commercial overview
Commercial land values increased moderately across Richmond Valley local government area between 2017 and 2018, as a result of increased demand for this property type.
Typical commercial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Barker St, Casino | $101,000 | $105,000 | 4.0% |
| Centre St, Casino | $103,000 | $110,000 | 6.8% |
| Johnston St, Casino | $260,000 | $280,000 | 7.7% |
| Stapleton Ave, Casino | $101,000 | $105,000 | 4.0% |
| Woodburn St, Evans Head | $332,000 | $350,000 | 5.4% |
Industrial land values
Industrial overview
Industrial land values increased very strongly across the local government area, with the biggest increases occurring in the main industrial centre of Casino. There has been a strong demand for industrial property in this locality.
Typical industrial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Cassino Dr, Casino | $110,000 | $175,000 | 59.1% |
| Dyraaba St, Casino | $210,000 | $250,000 | 19.1% |
| Memorial Airport Dr, Evans Head | $192,000 | $230,000 | 19.8% |
Rural land values
Rural overview
The rural market showed a consistent moderate increase across the local government area due to the affordability in this locality for primary production and rural residential land.
Typical rural land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Old Tenterfield Rd, Clearfield | $254,000 | $270,000 | 6.3% |
| Sextonville Rd, Dobies Bight | $126,000 | $135,000 | 7.1% |
| Mongogarie Rd, Leeville | $394,000 | $420,000 | 6.6% |
| Whites Rd, New Italy | $170,000 | $185,000 | 8.8% |
| Perkins Bridge Rd, Tatham | $60,500 | $65,000 | 7.4% |
| Coraki Ellangowan Rd, West Coraki | $147,000 | $155,000 | 5.4% |
| Sharpe Rd, Woodburn | $142,000 | $150,000 | 5.6% |
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.