Somewhere in the recent months of chaos the Queensland Valuer-General released the most recent land valuations for Queensland Council areas.
This comes from the Valuer-Generals annual property market movement report which I have always found a rather curious document. Councils are valued on different timeframes so this doesn’t represent any annualised comparative rate. I’m curious about how the Valuer – General derived a state wide number when only a minority proportion of councils were valued?
However the most significant factor is that the Councils with the largest gains since their previous valuation reflect rural and not residential land.
The median residential value in Burke Shire declined by 37% while the total land valuation of the Shire increased by 23.2%
Cassowary Coast was the only Cairns region revalued this year.