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March 2, 2021

Land prices remain steady, says NSW Valuer General

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Land values for the north coast region have generally remained steady since July 1, 2018, says NSW acting Deputy Valuer General Paul Chudleigh.

According to the valuer general website, ‘The Valuer General is an independent statutory officer appointed by the Governor of NSW to oversee the state’s land valuation system.

‘Land values are one factor used by Councils to calculate rates,’ said Chudleigh.

One per cent increase

He says the total land value for the north coast NSW region increased one per cent between July 1, 2018 and July 1, 2019, from $85.8 billion to $86.7 billion.

‘Moderate increases were experienced in Richmond Valley (six per cent) and Lismore (five per cent). Overall, values in Byron decreased slightly by 2.6 per cent, except for residential land in central Byron Bay, which increased 6.5 per cent and residential land in the villages of Billinudgel, Federal and Main Arm, which increased by five per cent’.

Chudleigh said, ‘It is important to note that land value is the value of the land only, and does not include the value of a home or other structures.’

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