Wow, amazing sights. I hope things stabilise a bit now.
Thank you, it’s been a wild winter and now this. Thankfully I have no damage here, but it’s a disaster up my sister’s way. I always said I live in the Goldilocks zone! Tornadoes and storms just seem to go around me
Are those 80 degree temps usual for this time of year for you?
Wow that’s wild, very expensive here also.Monday 31st of March 9.07a.m. Windy and cold, sunny patches. 20.7 / 34.5kph SW, Hg 68%, 20.2C / 68.4F top of 21C / 70F. Showers. Very windy. Coastal errosion. Hazardous surf. Marine wind warning.
Moon is 6%
Brisbane council rates likely to rise as land valuations soar across Queensland
2 days ago
By state political reporter Alex Brewster
Original Queenslander-style homes. Based on the 351,000 Brisbane properties evaluated, land values have seen an increase of 17 per cent. (ABC News: Chris Gillette)
Land valuations in Brisbane have climbed almost 20 per cent, while some regional locations have seen increases of more than 230 per cent, likely leading to costlier council rates and land tax bills.
Queensland's independent valuer-general, Laura Dietrich, issued more than 790,000 valuations this week, spanning 14 council areas.
Brisbane City Council's re-evaluation included almost 351,000 properties with a total value of $346.2 billion, an increase of 17 per cent.
The overall median value of residential land in the capital city was $720,000.
"Brisbane continues to be one of the strongest capital city housing markets, and that's mainly due to population growth and infrastructure projects that have been done since we last did the valuation in 2022," Ms Dietrich said.
"Some of those big investments are the Kangaroo Point Bridge, the Eagle Street Pier project, Queens Wharf, and the Metro Tunnel Project."
Brisbane's land values were last reviewed in 2023, rising 12 per cent then, and 17 per cent the previous year.
In Logan — one of the state's biggest council areas — total land values increased 19 per cent, with residential land now at a median value of $375,000, driven by strong population growth and improved transport infrastructure.
Other notable land value increases included:
- Toowoomba, up 31 per cent to a median residential land value of $265,000
- Cairns, up 31 per cent to a median residential land value of $280,000 - Cyclone country.
- Rockhampton, up 36 per cent to a median residential land value of $134,000
- Townsville, up 27 per cent to a median residential land value of $192,500 - this is the city, and its outskirts, that flooded recently and was evacuated.
Values completed prior to extreme weather
Ms Dietrich said it was important to note the valuations reflected the market prior to October of last year, before serious flooding events and ex-Tropical Cyclone Alfred.
"Our valuers consider a range of factors, including the damage caused to land property sales with flood-affected areas and historical flooding in the region," she said.
"Future land valuations will continue to take into consideration adverse weather and flooding."
Land valuations are used by local governments to make decisions on council rates, and the state government relies on them to calculate land tax charges.
"As the valuer-general, I have no role in council rates. Councils have many options to be able to manage their rates," Ms Dietrich said.
The Gold Coast, Sunshine Coast and Moreton Bay were notable exclusions to the latest valuations.
"As valuers, we don't set the market, we interpret the market," Ms Dietrich said.
"So, when I make the decision to value different LGAs each year, we go through the process of looking at market movements, talking to stakeholders and councils, and considering all the things that have taken place since the last time we did an evaluation."
Rural locations skyrocket
Several south-west Queensland councils saw massive rises in land valuations, including Paroo (247 per cent), Murweh (238 per cent), and Quilpie (236 per cent).
"A combination of generally good seasons, low interest rates and high commodity prices since 2020 to 2022, has seen an increase in rural land values," Ms Dietrich said.
"While we've seen interest rate rises and lower commodity prices over the last 12 months, we haven't seen the rural prices drop.
"Producers continue to take a long-term view, competing for properties that are strategically important to them.
"We haven't seen any correction to the rural market to date, and that's really because there's a low supply."
ABC
