Land values in the Upper Hunter local government area
Hunter region
General overview
Land values in the Upper Hunter local government area increased slightly between 2017 and 2018, with this trend reflected across the residential and rural market segments. Commercial land values remained steady, while industrial land values showed a moderate increase.
Land value trends
| Property zone | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Residential | $441,023,300 | $458,674,920 | 4.0% |
| Commercial | $27,703,410 | $28,041,720 | 1.2% |
| Industrial | $11,881,500 | $12,595,000 | 6.0% |
| Rural | $1,483,786,889 | $1,545,521,589 | 4.2% |
| Other | $48,723,991 | $51,042,391 | 4.8% |
| Total | $2,013,119,090 | $2,095,875,620 | 4.1% |
Number of properties by zone
Total number of properties: 7,821
Residential land values
Residential overview
Residential land values in the Upper Hunter local government area increased slightly 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 |
|---|---|---|---|
| Mcleod St, Aberdeen | $65,000 | $66,500 | 2.3% |
| Salisbury St, Blandford | $50,000 | $52,500 | 5.0% |
| High St, Bunnan | $25,000 | $25,000 | 0.0% |
| Branksome St, Cassilis | $18,700 | $18,700 | 0.0% |
| Lighthorse Pde, Glenbawn | $145,000 | $152,000 | 4.8% |
| Church St, Gundy | $84,000 | $89,000 | 6.0% |
| Glebe St, Merriwa | $133,000 | $135,000 | 1.5% |
| Gummun Lane, Merriwa | $88,000 | $90,000 | 2.3% |
| Marquet St, Merriwa | $46,500 | $49,000 | 5.4% |
| High St, Moonan Flat | $40,000 | $43,000 | 7.5% |
| Mayne St, Murrurundi | $44,600 | $47,000 | 5.4% |
| Mount St, Murrurundi | $45,000 | $47,000 | 4.4% |
| Sunshine St, Murrurundi | $74,200 | $77,500 | 4.5% |
| Park St, Parkville | $60,000 | $63,000 | 5.0% |
| Gould St, Scone | $114,000 | $118,000 | 3.5% |
| Kelly St, Scone | $100,000 | $102,000 | 2.0% |
| Kingdon St, Scone | $135,000 | $140,000 | 3.7% |
| Kookaburra Ave, Scone | $128,000 | $135,000 | 5.5% |
| Redbank Dr, Scone | $112,000 | $115,000 | 2.7% |
| Susan St, Scone | $113,000 | $118,000 | 4.4% |
| Vernon St, Wingen | $70,000 | $74,000 | 5.7% |
Commercial land values
Commercial overview
Commercial land values in Upper Hunter local government area remained steady between 2017 and 2018 with well balanced supply and demand.
The exception was Merriwa business which showed a moderate increase in line with the general surrounding market being influenced largely by the rural sector.
Typical commercial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Macqueen St, Aberdeen | $50,000 | $51,000 | 2.0% |
| Dutton St, Merriwa | $43,500 | $45,500 | 4.6% |
| Mayne St, Murrurundi | $47,000 | $49,000 | 4.3% |
| Kelly St, Scone | $116,000 | $116,000 | 0.0% |
Industrial land values
Industrial overview
Overall there was a moderate increase in industrial land values in Upper Hunter local government area between 2017 and 2018. This can be attributed to mostly vacant allotments in Scone Business Park with stage 1 selling at higher than anticipated prices as construction of the Scone bypass commences.
Centrally located industrial land in Scone remained steady with well balanced supply and demand.
Typical industrial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Perth St, Aberdeen | $150,000 | $150,000 | 0.0% |
| Cullingral Rd, Merriwa | $38,000 | $40,000 | 5.3% |
| Hayes St, Scone | $143,000 | $143,000 | 0.0% |
| Makybe Diva St, Scone | $100,000 | $140,000 | 40.0% |
Rural land values
Rural overview
Rural land values showed a slight increase overall due to demand exceeding supply following deteriorating seasonal conditions with commodity prices generally remaining strong.
The exception was Scone, Aberdeen, Parkville and Wingen locailities where there was a strong increase in land values due to high demand for rural hobby farm and lifestyle blocks.
Typical rural land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Old Highway Rd, Blandford | $599,000 | $599,000 | 0.0% |
| Pembroke Rd, Cassilis | $28,900 | $28,900 | 0.0% |
| Pembroke Rd, Cassilis | $214,000 | $220,000 | 2.8% |
| Coulsons Creek Rd, Merriwa | $275,000 | $290,000 | 5.5% |
| Yarrandi Rd, Moobi | $270,000 | $295,000 | 9.3% |
| Bunnan Rd, Scone | $390,000 | $405,000 | 3.9% |
| Bunnan Rd, Scone | $715,000 | $730,000 | 2.1% |
| Gundy Rd, Scone | $210,000 | $210,000 | 0.0% |
| Gundy Rd, Scone | $380,000 | $395,000 | 4.0% |
| Turanville Rd, Scone | $1,860,000 | $1,930,000 | 3.8% |
| Upper Rouchel Rd, Upper Rouchel | $220,000 | $225,000 | 2.3% |
| Timor Po Rd, Waverly | $220,000 | $220,000 | 0.0% |
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.