Land values in the Nambucca local government area
North Coast region
General overview
Nambucca local government area has experienced an overall moderate increase in land values between 2017 and 2018. Moderate land value increases were consistently recorded across the residential and industrial market sectors, while rural land experienced a strong value increase. Commercial property land values however, have tended to remain steady over the period.
The recent completion and opening of the Pacific Highway Upgrade and re-alignment between the major regional centres of Coffs Harbour and Port Macquarie has been a prominent driving force underpinning market movements within the Nambucca Local Government Area over the 2017 to 2018 period. Significantly reduced travelling times and improved road safety have contributed to a strengthening in demand, particularly for residential and rural home site properties situated in close proximity to the highway corridor.
Land value trends
| Property zone | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Residential | $1,085,160,400 | $1,189,952,700 | 9.7% |
| Commercial | $64,730,240 | $65,438,940 | 1.1% |
| Industrial | $26,321,660 | $28,123,280 | 6.8% |
| Rural | $456,257,610 | $502,182,830 | 10.1% |
| Other | $44,076,354 | $45,145,154 | 2.4% |
| Total | $1,676,546,264 | $1,830,842,904 | 9.2% |
Number of properties by zone
Total number of properties: 9,376
Residential land values
Residential overview
There has been a moderate increase in residential land values across most localities within the Nambucca local government area between 2017 and 2018 as the market continues to be driven by sustained levels of strong demand for affordable housing offering good coastal amenity.
The residential localities of Valla Beach, Nambucca Heads, Scotts Head and Macksville in particular, have benefitted from a strengthening of demand attributable to the recent opening of the Pacific Highway by passes at Nambucca Heads and Macksville. The opening of these sections of dual carriage motorway has improved road safety and significantly reduced travel times to the major regional centre of Coffs Harbour, to the extent that these localities now represent realistic commuting options.
Renewed demand for a limited quantity of available property in the small, isolated rural village of Taylors Arm has resulted in very strong land value increases between 2017 and 2018.
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 |
|---|---|---|---|
| Bowra St, Bowraville | $60,000 | $65,000 | 8.3% |
| Strawberry Rd, Congarinni | $165,000 | $175,000 | 6.1% |
| Main St, Eungai Creek | $83,000 | $92,000 | 10.8% |
| Jellico St, Macksville | $140,000 | $165,000 | 17.9% |
| Wallace St, Macksville | $100,000 | $110,000 | 10.0% |
| West St, Macksville | $120,000 | $132,000 | 10.0% |
| Giinagay Way, Nambucca Heads | $170,000 | $185,000 | 8.8% |
| Illawong Dr, Nambucca Heads | $360,000 | $370,000 | 2.8% |
| Lackey St, Nambucca Heads | $190,000 | $200,000 | 5.3% |
| Liston St, Nambucca Heads | $290,000 | $310,000 | 6.9% |
| Seaview St, Nambucca Heads | $135,000 | $150,000 | 11.1% |
| Matthew St, Scotts Head | $460,000 | $460,000 | 0.0% |
| Vernon St, Scotts Head | $151,000 | $170,000 | 12.6% |
| Taylors Arm Rd, Taylors Arm | $33,000 | $50,000 | 51.5% |
| Burkes Lane, Valla | $225,000 | $240,000 | 6.7% |
| Hibiscus Dr, Valla Beach | $210,000 | $245,000 | 16.7% |
| Albert Dr, Warrell Creek | $57,500 | $70,000 | 21.7% |
| Scotts Head Rd, Way Way | $265,000 | $280,000 | 5.7% |
| Rodeo Dr, Wirrimbi | $275,000 | $300,000 | 9.1% |
Commercial land values
Commercial overview
Commercial property land values within the Nambucca local government area have generally remained steady over the 2017 to 2018 period as demand for a limited supply of available property stabilised throughout the year.
Smaller neighbourhood shopping centre land values have increased moderately in a trend closely mirroring that of the surrounding residential property sector.
Conversely, commercial properties fronting the former Pacific Highway at South Nambucca Heads have experienced a moderate decrease in land value levels as the previously high volume traffic flows, which many businesses in the locality relied upon for trade, have now been diverted to the recently opened Nambucca Heads Pacific Highway bypass.
Typical commercial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Wallace St, Macksville | $110,000 | $110,000 | 0.0% |
| Bowra St, Nambucca Heads | $225,000 | $230,000 | 2.2% |
| Giinagay Way, Nambucca Heads | $330,000 | $300,000 | -9.1% |
| Mann St, Nambucca Heads | $170,000 | $180,000 | 5.9% |
| Adin St, Scotts Head | $315,000 | $330,000 | 4.8% |
Industrial land values
Industrial overview
There has been a moderate increase in industrial land values within the Nambucca local government area over the 2017 to 2018 period. This has been driven by increased demand from purchasers attracted by relatively low industrial land values in comparison to those of the nearby major regional centres of Coffs Harbour, Kempsey and Port Macquarie.
Decreased travel times and improvements in accessibility attributable to the recent Pacific Highway upgrade and re-alignment, along with good supplies of vacant industrial land, have supported increased levels of demand.
Typical industrial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Angus Lane, Macksville | $85,000 | $90,000 | 5.9% |
| Yarrawonga St, Macksville | $120,000 | $132,000 | 10.0% |
| Duke St, Nambucca Heads | $165,000 | $170,000 | 3.0% |
Rural land values
Rural overview
The rural land market within the Nambucca local government area has shown a strong increase in value levels over the period 2017 to 2018. Land value increases have been reasonably consistent across all classes of property. Rural home sites, hobby farms and prime grazing lands situated on the coastal plain with close proximity to established urban area amenities, have generally shown slightly stronger increases due to higher levels of demand in comparison to more isolated upper valley rural localities.
Typical rural land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Rodeo Dr, Bowraville | $190,000 | $210,000 | 10.5% |
| Congarinni Rd, Congarinni | $130,000 | $145,000 | 11.5% |
| South Arm Rd, South Arm | $200,000 | $220,000 | 10.0% |
| Welshs Creek Rd, Talarm | $375,000 | $425,000 | 13.3% |
| Mitchells Rd, Valla | $285,000 | $300,000 | 5.3% |
| Valla Rd, Valla | $280,000 | $300,000 | 7.1% |
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.