NSW Valuer General has published new land values

The new land values will be used by Revenue NSW to calculate land tax for the 2024 land tax year for landowners that are subject to land tax.

Transcript

00:00 Residential land values across regional New South Wales increased slightly by approximately

00:05 3%.

00:07 The majority of regional New South Wales saw slight increases in value with continued interest

00:12 from purchasers seeking affordable housing options within close proximity to regional

00:18 centres.

00:20 Commercial land values in regional New South Wales increased by approximately 10%.

00:26 Most areas within regional New South Wales experienced good demand for commercial property,

00:31 often underpinned by population growth, infrastructure or other local development projects and a

00:38 continuing strong rural sector.

00:42 Industrial land values in regional New South Wales increased strongly by approximately

00:46 22%.

00:48 These increases were experienced across most areas and driven by high demand due to growing

00:53 population bases, limited supply and the continued strength of the rural sector.

01:01 Rural land values in regional New South Wales increased by approximately 10%.

01:07 Rural residential properties generally followed the residential market with a slight increase,

01:13 whereas genuine rural properties continued to benefit from long-term confidence in the

01:18 rural sector, with a significant number of purchasers being existing landholders looking

01:24 to expand their farming operations.

01:26 [End of Audio] Duration: 2 minutes and 40 seconds

01:27 Page 2 of 2

01:27 [BLANK_AUDIO]