LAND VALUES ISSUED FOR PORT MACQUARIE Land valuation notices by dpo90078

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									27 January 2010
                     LAND VALUES ISSUED FOR PORT MACQUARIE

 Land valuation notices are being issued for about 28,790 properties in the Port Macquarie
 Hastings Local Government Area, Valuer General Philip Western, said today.

 “The total land value of the LGA as at 1 July 2009 was about $6.7 billion,” Mr Western said.

 “Real estate analysis in the Port Macquarie Hastings LGA has been extensive during the course
 of the valuation program with 315 residential, 12 commercial, 16 industrial and 124 rural sales
 analysed.

 “Overall the value of residential, commercial and rural land within the Port Macquarie Hastings
 LGA have remained steady over the previous year while the value of industrial land has fallen.

 “Typical residential land values were 920 square metres at River Park Road, Port Macquarie,
 valued at $562,000; 556 square metres at Kadina Crescent, Port Macquarie, valued at $189,000;
 769 square metres at Cowarra Circuit, Wauchope, valued at $130,000; 666 square metres at Bass
 Avenue, Laurieton, valued at $165,000; 869 square metres at Meluleuca Avenue, Lake Cathie,
 valued at $182,000; and 654 square metres at Scarborough Way, Dunbogan, valued at $175,000.

 “A typical commercial land value was 330 square metres at High Street, Wauchope, valued at
 $198,000. Values firmed on demand at Port Macquarie with $641,000 for 308 square metres at
 Horton Street.

 “Typical industrial land values were 1,000 square metres at Jindalee Road, Port Macquarie,
 valued at $240,000; and 4,050 square metres at Commerce Street, Wauchope, valued at
 $220,000.

 “Typical rural land values were 6,000 square metres at Cowarra Close, Kings Creek, valued at
 $200,000; 1 hectare at Koree Island Road, Beechwood, valued at $193,000; 5 hectares at
 Rollands Plains Road, Ballengara, valued at $190,000; 127 hectares at Gum Scrub Road, Gum
 Scrub, valued at $537,000; and 228 hectares at Bril Bril-Bellangry Road, Rollands Plains, valued
 at $535,000. Values firmed on demand at Mortons Creek with $442,000 for 48 hectares at
 Mortons Creek Road and at Comboyne with 80 hectares at Herbert Gill Road, valued at $778,000.

 “The valuations are dated at 1 July 2009 and are based on relevant land and property sales data.

 “The 2009 land valuations are one of the factors that council will use to determine landowner
 rates.

 “Property owners will receive a leaflet with their valuation notice that explains the valuation
 process.

 “People who have a query about their valuation are encouraged to call our toll free number
 (1800 110 038).”
More information on land valuation and a land value search service can be found on the
Land and Property Management Authority’s website at www.lpma.nsw.gov.au.


                                          ENDS

For further information contact:
John McClymont T 02 9236 7726 M 0401 712 279
Natalie Christie T 02 9236 7758 M 0402 361 776

								
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