The NSW Valuer General has published land values for the coastal region of New South Wales (NSW).
The NSW Valuer General has finalised land values for every parcel of land across New South Wales (NSW). The land values reflect the value of land only, as at 1 July 2024.
Property sales are the most important factor valuers consider when determining land values.
Land values across coastal New South Wales have risen by more than $9 billion according to new analysis from the NSW Valuer General.
The total land value for coastal NSW experienced a combined increase of 1.6% across all property types from $559.8 billion to $568.9 billion between 1 July 2023 and 1 July 2024.
Sally Dale, Valuer General of NSW said: “The market has slowed due to reduced demand, interest rate rises and inflation. This trend was generally consistent across all coastal regions.”
| Property type | 1 July 2023 land value | 1 July 2024 land value | Percentage change | Property count |
|---|---|---|---|---|
| Residential | $427,635,229,874 | $434,689,064,613 | 1.6% | 690,945 |
| Commercial | $19,337,460,313 | $19,486,342,879 | 0.8% | 16,546 |
| Industrial | $15,911,204,201 | $16,660,424,506 | 4.7% | 11,816 |
| Rural | $65,870,990,126 | $66,554,457,053 | 1.0% | 82,647 |
| Other | $31,001,552,069 | $31,512,905,401 | 1.6% | 39,425 |
| Total | $559,756,436,583 | $568,903,194,452 | 1.6% | 841,379 |
Coastal areas of NSW experienced an overall increase of 1.6% in residential land values. Central Coast (4.3%), Lake Macquarie (4.1%) and Newcastle (3.9%) saw the biggest increases. Wingecarribee (-4.9%), Kiama (-4.1%) and Shoalhaven (-3.0%) experienced the biggest decreases in residential land values.
“We’re seeing a cooling down of the coastal region residential market due mainly to interest rate rises, higher inflation and increased construction costs. This trend was generally consistent across all coastal regions,” Ms Dale said.
Commercial land values increased slightly by less than 1%. Wollondilly (8.1%), Port Macquarie-Hastings (4.4%), Tweed (4.0%) and Kyogle (4.0%) were the areas that saw the biggest increases in commercial land values. Coffs Harbour (-4.1%), Lake Macquarie (-2.3%) and Newcastle (-1.5%) all experienced negative growth to commercial land values.
“Limited supply and the tightly held nature of commercial property have been key drivers of commercial land values across the region,” Ms Dale said. “This has been especially evident in areas like Wollondilly and Port Macquarie-Hastings, where strong demand has resulted in growth that outpaces the regional average.”
Industrial land values in the coastal areas of NSW grew by 4.7% on average. Wollondilly was a strong performer with an increase of 22.8%. This is attributed to increased demand with Wollondilly’s proximity to major south-western Sydney infrastructure projects, including the Western Sydney Airport and the Western Sydney Aerotropolis. Bega Valley (17.0%) and Tweed (15.6%) also saw increases in industrial land values.
Rural land values in the coastal regions of NSW increased slightly by 1.0% overall. Shellharbour (20.5%) saw the biggest increase in percentage change to rural land values, attributed to constrained supply of rural homesite blocks in the region. Eurobodalla (11.7%) and Lake Macquarie (8.3%) also experienced strong growth. Shoalhaven (-6.3%), Ballina (-1.9%) and Bellingen (-1.8%) experienced the biggest decreases in rural land values.
| Property type | 1 July 2023 land value | 1 July 2024 land value | Percentage change | Property count |
|---|---|---|---|---|
| Residential | $2,109,069,222,194 | $2,265,141,384,122 | 7.4% | 2,263,668 |
| Commercial | $163,616,601,011 | $170,009,079,948 | 3.9% | 61,680 |
| Industrial | $124,356,733,968 | $131,839,822,622 | 6.0% | 38,976 |
| Rural | $304,167,143,457 | $309,121,906,404 | 1.6% | 241,826 |
| Other | $101,900,141,390 | $105,483,479,698 | 3.5% | 98,064 |
| Total | $2,803,109,842,020 | $2,981,595,672,794 | 6.4% | 2,704,214 |
Overall, land values across NSW increased by 6.4%, from $2.8 trillion to $2.98 trillion. The new land values were assessed following analysis of more than 54,000 property sales.
The new land values will be used by Revenue NSW to calculate land tax for the 2025 land tax year for landowners subject to land tax. Registered land tax clients will receive their land tax assessment from Revenue NSW starting January 2025. For more information on land tax, visit revenue.nsw.gov.au.
Land values are provided to local councils at least every 3 years for calculating council rates. To learn how your council rates are calculated, visit the Office of Local Government.
Landholders have 60 days from receiving their notice to object to their land valuation if they believe it is incorrect and can provide sales evidence to support their claim.
The latest land values for all properties in NSW are available on the NSW Valuer General’s website, along with information on trends, medians, and typical land values for each local government area.
For more information on land values and the NSW valuation system, visit Valuer General pages.
| Coastal NSW LGA | Residential % change | Commercial % change | Industrial % change | Rural % change | Other % change | Total % change |
|---|---|---|---|---|---|---|
| BALLINA | 0.1% | 2.7% | 3.2% | -1.9% | -3.6% | -0.4% |
| BEGA VALLEY | 0.8% | 2.5% | 17.0% | 0.5% | 0.6% | 0.9% |
| BELLINGEN | 2.2% | 3.5% | 0.6% | -1.8% | 5.5% | 0.7% |
| BYRON | 1.0% | 1.9% | 1.1% | 1.1% | 4.4% | 1.4% |
| CENTRAL COAST | 4.3% | -1.2% | 0.7% | 2.8% | -0.2% | 3.6% |
| CLARENCE VALLEY | -2.1% | 1.3% | 1.6% | 1.3% | 2.1% | -0.7% |
| COFFS HARBOUR | 1.7% | -4.1% | 0.6% | 1.9% | 1.6% | 1.4% |
| EUROBODALLA | 0.0% | 1.5% | 6.8% | 11.7% | -0.1% | 1.5% |
| KEMPSEY | 1.4% | 1.6% | 0.3% | 2.4% | 1.2% | 1.7% |
| KIAMA | -4.1% | 0.7% | 0.0% | 0.5% | 0.2% | -3.0% |
| KYOGLE | 0.8% | 4.0% | 0.7% | 3.9% | 2.8% | 3.4% |
| LAKE MACQUARIE | 4.1% | -2.3% | 2.6% | 8.3% | 0.3% | 3.9% |
| LISMORE | 1.6% | -0.9% | 10.0% | 3.1% | 0.0% | 2.3% |
| MID-COAST | 0.3% | 1.8% | 6.2% | 2.8% | -0.2% | 1.1% |
| NAMBUCCA | 0.3% | 2.6% | 5.6% | 0.0% | 1.3% | 0.3% |
| NEWCASTLE | 3.9% | -1.5% | 0.3% | 0.0% | 1.4% | 3.3% |
| PORT MACQUARIE-HASTINGS | 0.5% | 4.4% | 0.2% | -0.9% | 1.5% | 0.5% |
| PORT STEPHENS | 1.0% | 0.8% | 4.8% | 3.4% | 3.1% | 1.5% |
| RICHMOND VALLEY | 1.4% | 0.0% | -0.7% | 0.0% | 0.8% | 0.7% |
| SHELLHARBOUR | 2.5% | 1.4% | 4.4% | 20.5% | 6.2% | 3.0% |
| SHOALHAVEN | -3.0% | 1.6% | 10.6% | -6.3% | -0.1% | -3.1% |
| TWEED | 3.5% | 4.0% | 15.6% | 7.1% | 1.9% | 4.2% |
| WINGECARRIBEE | -4.9% | 0.3% | 1.8% | -0.9% | 1.8% | -2.5% |
| WOLLONDILLY | 0.5% | 8.1% | 22.8% | -0.5% | 3.9% | 0.8% |
| WOLLONGONG | 1.8% | 2.3% | 11.8% | 2.0% | 8.8% | 2.6% |
