12.5 C
Byron Shire
April 23, 2021

Land values jump, but not in Richmond Valley

Latest News

Fast Buck$ ejected from Byron Council meeting

During this morning's Byron Shire Council meeting a dispute between the Mayor Simon Richardson and local activist and agitator Fast Buck$ over the pronunciation of Cr Sarah Ndiaye's name led to the meeting being suspended.

Other News

Mandy Nolan’s Soapbox: Byron’s Back

‘Byron’s dead’. That’s the statement that I often hear. Or ‘I never go there anymore it’s lost’ or ‘Byron died years ago’. It always makes me feel a bit sad and defensive. I have such a love for this place, although I curse it when I get stuck in snaking traffic at 8am on a weekday morning or I can’t find a park near where I am going.

Common courtesy

Anonymous, Byron Bay First of all, thank you to those customers who did the right thing and wore their masks in...

Head-on crash car traveling in wrong direction

Police say that two men are in hospital after an accident on the M1 overnight, when emergency services responded to reports of a crash involving two cars near Clothiers Creek

Holiday lets

David Wallace, Suffolk Park The following query was recently sent to NSW Planning Minister Mr Rob Stokes: On Friday, 9 April, 2021,...

The Channon resilient after disaster

Northern Rivers communities are nothing if not resilient and The Channon community is preparing to take a proactive stance when it comes to disasters in the area.

Music photos

Jack Paten, Shellharbour Over the years I have collected various photos from the past of Australian Country Music history and am...

Richmond Valley local government area (LGA) land values have gone backwards in the past year and ranked last among coastal council areas, while Byron shire recorded the second biggest increase, according to the latest valuation report.

The residential median land value in the Richmond Valley in 2013-14 was $85,800, a drop from the previous year’s $90,400, or minus 5.09 per cent, while Byron’s  have risen by 8.25 per cent ($328,000 from $303,000), according to the NSW Valuer General.

Of the NSW coastal council areas, Byron was only topped by Kiama, which rose by 9.51 per cent ($334,00 from  $305,000).

Next highest was Ballina with a 7.91 per cent increase ($232,000 from $215,000 ), followed by Port Macquarie-Hastings (7.30 per cent, $191,000 from $178,000). Tweed (6.64 per cent, $225,000 from $211,000), Lismore (4.63 per cent, $113,000 from $108,000) then Richmond Valley.

Overall, NSW land values increased by more than 11 per cent, driven largely by increases in the northern suburbs of Sydney, such as Willoughby (37.06 per cent) and Hornsby (25.34 per cent).

The value of the land in NSW now exceeds $1.12 trillion, according to the valuer general, Simon Gilkes.

He says almost 2.5 million residential, rural, business and industrial land values for properties in NSW were assessed.

‘Property sales are the most important factor considered when determining land values and valuers analysed over 43,000 property sales across NSW as at July 1, 2014,’ Mr Gilkes said.

‘Overall residential land values for NSW increased by 13.12 per cent in the 12 months to July 1, 2014, compared to a 3.21 per cent increase for the year to July 1, 2013.

‘The biggest overall market trend has seen increases for land values predominantly occur in the Sydney basin,’ Mr Gilkes said.

A total of 22 LGAs in the state experienced a decrease in median residential land values for the 12-month period, with the largest decrease experienced in Cobar with the median residential land value dropping by ten per cent.

Over the coming weeks more than 882,000 Notices of Valuation will be sent to ratepayers in 45 LGAs, showing the value of residential, rural, business and industrial properties based on market conditions as at July 1, 2014.

Mr Gilkes said the latest land values will help 45 local councils determine the amount of council rates landholders pay.

‘While important, valuations are only one of the factors councils use to determine each landholder’s rating liability,’ he said.

‘Increases or decreases in land values do not necessarily lead to similar increases or decreases in rates.’

Mr Gilkes said the land values were prepared by valuers contracted from 17 firms across the state. ‘The values are then subject to rigorous quality assurance including statistical testing by the University of Western Sydney.

‘We are also improving our information to the community and making it easier for landholders to raise concerns and understand how their issues are being addressed.’

Landholders can have it independently reviewed by lodging an objection.

Visit www.valuergeneral.nsw.gov.au or call 1800 110 038 for more information.


Support The Echo

Keeping the community together and the community voice loud and clear is what The Echo is about. More than ever we need your help to keep this voice alive and thriving in the community.

Like all businesses we are struggling to keep food on the table of all our local and hard working journalists, artists, sales, delivery and drudges who keep the news coming out to you both in the newspaper and online. If you can spare a few dollars a week – or maybe more – we would appreciate all the support you are able to give to keep the voice of independent, local journalism alive.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Shenhua gone and Breeza breathes again

In a much-hoped-for move, the NSW Government and the China Shenhua Energy Company Limited have reached a $100 million agreement in which Shenhua will withdraw its mining lease application and surrender its development consent for the Shenhua Watermark Coal project at Breeza on the Liverpool Plains.

Pandemic plate lickers release lockdown dessert

The 2020 pandemic lockdown meant the entire entertainment industry was cancelled, but making music cannot be cancelled.

5MW solar farm funding under question

A 5MW solar farm proposed for Myocum, located near the Byron Resource Recovery Centre, poses a ‘high degree of risk’, and could jeopardise funding for other large Council infrastructure projects, according to a staff report, to be tabled at this Thursday’s meeting.

Tony Barry, Ben Chifley and FD’s Four Freedoms

Local actor-vist, Tony Barry, has taken on a lot since he moved to the Northern Rivers, and though cancer took one of his legs, Tony still manages to put in the hard yards for social, environmental and human rights causes.