Land values in the North Coast region
Comprising of Ballina, Bellingen, Byron, Clarence Valley, Coffs Harbour, Kempsey, Kyogle, Lismore, Nambucca, Port Macquarie-Hastings, Richmond Valley and Tweed local government areas.
General overview
The total land value for the North Coast region increased moderately over the 12 month period to 1 July 2018 by 9.1% from $66.9 billion to $73.0 billion.
Overall, residential land values across the region increased by 8.7%. Most local government area recorded moderate increases from 5% to 10%. Byron (10.5%) and Tweed (10.6%) local government areas, recorded the strongest increases in the region with high demand for limited supply of properties. Kyogle local government area remained steady.
The strongest increase in the region overall was for industrial land with a 12.0% increase. Industrial land values had strong increases of 13.8% and 18.3% respectively in Port-Macquarie-Hastings and Byron local government areas. Very strong increases of 26.5% and 28.7% respectively in the Tweed and Richmond Valley local government areas. These strong to very strong increases were the result of high demand and limited supply.
Rural land values overall experienced a strong increase of 10.4% in the region. Local government areas had rural land value increases varying from a moderate 5.2% (Coffs Harbour) to strong 16.7% (Byron).
Other sectors of the North Coast region had moderate increases overall, with commercial land values increasing 7.8% and residential land values 8.7%, due to increased demand.
Land value trends
| Property zone | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Residential | $45,248,610,385 | $49,168,649,850 | 8.7% |
| Commercial | $3,187,403,939 | $3,436,391,832 | 7.8% |
| Industrial | $1,284,263,240 | $1,437,967,840 | 12.0% |
| Rural | $14,426,530,024 | $15,922,643,249 | 10.4% |
| Other | $2,801,185,310 | $3,056,924,913 | 9.1% |
| Total | $66,947,992,898 | $73,022,577,684 | 9.1% |
Number of properties by zone
Total number of properties: 210,460
Residential land values
Residential overview
North Coast residential land values overall increased by 8.7%.
The strongest increases in residential land values were in Byron (10.5%) and Tweed (10.6%) local government areas. These strong increases were driven by high demand from both investors and owner occupiers with limited supply particularly along the coast.
There were more moderate increases in residential land values in most other local government areas of the North Coast region including Richmond Valley (5.4%), Port Macquarie-Hastings (5.5%), Bellingen (7.3%), Coffs Harbour (7.8%), Kempsey (8.0%), Ballina (8.8%), Lismore (9.4%), Nambucca (9.7%) and Clarence Valley (9.9%). The overall moderate increases in these local government areas were due to continuing strong demand. However, there were some locations and sectors of the residential market which did not experience moderate increases. For example rural residential properties in the Orara Valley and Bellinger Valley remained steady. Residential properties in the Lismore basin showed strong increases, recovering from reductions following the March 2017 flood. Recent openings of Pacific Highway upgrades at Nambucca Heads and Macksville benefited the residential localities of Valla Beach, Nambucca Heads, Scotts Heads and Macksville resulting in strong increases.
Kyogle local government area had steady land values overall with a 0.3% change, with well balanced supply and demand.
Median residential 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.
Local government area land values
| LGA | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Ballina | $4,581,601,930 | $4,982,457,780 | 8.8% |
| Bellingen | $1,052,056,021 | $1,128,626,161 | 7.3% |
| Byron | $6,619,350,240 | $7,313,850,260 | 10.5% |
| Clarence Valley | $2,992,230,133 | $3,289,650,908 | 9.9% |
| Coffs Harbour | $6,326,519,340 | $6,816,898,620 | 7.8% |
| Kempsey | $1,404,673,350 | $1,516,697,070 | 8.0% |
| Kyogle | $179,592,830 | $180,083,930 | 0.3% |
| Lismore | $1,927,997,981 | $2,108,178,881 | 9.4% |
| Nambucca | $1,085,160,400 | $1,189,952,700 | 9.7% |
| Port Macquarie-Hastings | $8,050,801,690 | $8,492,270,450 | 5.5% |
| Richmond Valley | $969,909,710 | $1,022,556,480 | 5.4% |
| Tweed | $10,058,716,760 | $11,127,426,610 | 10.6% |
Commercial land values
Commercial overview
Overall, commercial land values increased moderately by 7.8%.
The largest increase was in the Tweed local government area (12.9%) which were attributed to high investor and owner occupier demand, driven by low interest rates.
Moderate increases in commercial land values were more typical in the North Coast including Clarence Valley (5.9%), Kempsey (6.8%), Port Macquarie-Hastings (7.7%), Bellingen (8.0%) and Byron (9.8%) local government areas. These moderate increases were driven by increased demand. Some commercial locations experienced very strong increases. For example, bulky goods sites in the Lake Road area of Port Macquarie and the coastal town South West Rocks due to strong demand for limited supply.
Kyogle (0.0%) and Nambucca (1.1%) local government areas overall experienced steady commercial land values, with generally well balanced supply and demand. An exception being South Nambucca Heads commercial property fronting the former Pacific Highway which has had moderate decreases in land values since the opening of the Nambucca Heads bypass.
Local government area land values
| LGA | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Ballina | $315,856,940 | $337,072,840 | 6.7% |
| Bellingen | $49,427,520 | $53,374,030 | 8.0% |
| Byron | $762,449,470 | $837,026,020 | 9.8% |
| Clarence Valley | $207,995,700 | $220,319,010 | 5.9% |
| Coffs Harbour | $408,972,500 | $417,917,700 | 2.2% |
| Kempsey | $100,795,760 | $107,675,060 | 6.8% |
| Kyogle | $14,161,900 | $14,161,900 | 0.0% |
| Lismore | $185,865,118 | $194,101,631 | 4.4% |
| Nambucca | $64,730,240 | $65,438,940 | 1.1% |
| Port Macquarie-Hastings | $432,797,520 | $466,125,600 | 7.7% |
| Richmond Valley | $56,825,960 | $59,799,870 | 5.2% |
| Tweed | $587,525,311 | $663,379,231 | 12.9% |
Industrial land values
Industrial overview
The strongest increase in the region overall was for industrial land with a 12.0% increase.
Industrial land values had strong increases of 13.8% and 18.3% respectively in Port Macquarie-Hastings and Byron local government areas. Very strong increases of 26.5% and 28.7% respectively, within Tweed and Richmond Valley local government areas. These strong to very strong increases were the result of high demand and limited supply.
Kyogle (0.0%), Kempsey (0.7%), Lismore (1.0%) had steady industrial land values overall with well balanced supply and demand. An exception was light industrial in Lismore which experienced moderate increases in land values and demand representing a partial recovery in values following the 2017 flood event.
Moderate increases in industrial land values were experienced in Nambucca (6.8%),
Bellingen (8.2%) and Coffs Harbour (8.9%) local government areas. These moderate
increases were primarily driven by increased demand, and in the cases of Nambucca and Bellingen their relatively low industrial land values compared to nearby major regional centres and now having improved accessibility from recent Pacific Highway upgrades.
Local government area land values
| LGA | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Ballina | $169,113,300 | $177,293,300 | 4.8% |
| Bellingen | $10,450,900 | $11,306,100 | 8.2% |
| Byron | $239,195,150 | $282,933,710 | 18.3% |
| Clarence Valley | $85,926,600 | $88,724,890 | 3.3% |
| Coffs Harbour | $295,247,730 | $321,381,380 | 8.9% |
| Kempsey | $28,310,190 | $28,500,190 | 0.7% |
| Kyogle | $4,202,000 | $4,202,000 | 0.0% |
| Lismore | $91,367,070 | $92,321,450 | 1.0% |
| Nambucca | $26,321,660 | $28,123,280 | 6.8% |
| Port Macquarie-Hastings | $158,837,200 | $180,752,710 | 13.8% |
| Richmond Valley | $32,888,540 | $42,314,400 | 28.7% |
| Tweed | $142,402,900 | $180,114,430 | 26.5% |
Rural land values
Rural overview
Rural land values in the North Coast had a strong increase overall of 10.4%.
Strong increases in rural land values were experienced in Nambucca (10.1%), Bellingen (10.2%), Kyogle (13.4%), Ballina (15.0%) and Byron (16.7%) local government areas. Ballina local government area's rural land values increased strongly due to demand for affordable rural lifestyle properties which are still close to Byron Bay. Byron local government area continued to have strong demand for well located rural homesites with coastal views and the high macadamia nut prices also contributed to the strength of the rural market.
Continuing demand resulted in moderate increases in rural land values in Coffs Harbour (5.2%), Port Macquarie-Hastings (5.6%), Richmond Valley (6.4%), Kempsey (8.0%), Tweed (8.9%), Lismore (9.4%) and Clarence Valley (9.6%) local government areas.
While no local government areas in the North Coast experienced steady rural land values overall, there were some locations and sectors of the rural market for which land values remained steady. For example rural properties in the Telegragh Point, Pappinbarra, King Creek, Kendall, Bellangry and Ellenbourogh areas of Port Macquarie-Hastings local government area due to easing demand; and the Upper Corindi locality of Coffs Harbour local government area due to the plateauing of demand from horticultural producers.
Local government area land values
| LGA | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Ballina | $1,373,199,310 | $1,578,547,040 | 15.0% |
| Bellingen | $706,133,860 | $778,197,420 | 10.2% |
| Byron | $2,022,615,876 | $2,360,514,450 | 16.7% |
| Clarence Valley | $1,591,717,028 | $1,743,915,639 | 9.6% |
| Coffs Harbour | $1,054,048,550 | $1,109,139,210 | 5.2% |
| Kempsey | $761,875,930 | $823,168,540 | 8.0% |
| Kyogle | $940,540,410 | $1,066,804,270 | 13.4% |
| Lismore | $1,485,291,210 | $1,625,103,800 | 9.4% |
| Nambucca | $456,257,610 | $502,182,830 | 10.1% |
| Port Macquarie-Hastings | $1,221,211,350 | $1,289,813,090 | 5.6% |
| Richmond Valley | $749,310,290 | $797,593,880 | 6.4% |
| Tweed | $2,064,328,600 | $2,247,663,080 | 8.9% |