The Valuer General has undertaken a Review of the impact of rezoning potentiality on land values.
The aim of the review is to understand the impact of rezoning potentiality on land values. The review was informed by recent Land and Environment Court cases and used the Western Sydney Aerotropolis as a case study.
The review concluded that it is possible to have sufficient and consistent evidence to support upward trends in the assessment of land values reflecting potentiality prior to a rezoning occurring. A copy of the review can be found here.
The review forms the basis for the Valuer General NSW policy “Valuation of land with rezoning potential”. A copy of the policy can be found here.