The NSW Valuer General has published land values for the South Coast Region.
The land values reflect the value of land only, as at 1 July 2023.
Land value is the value of the land only. It does not include the value of a home or other structure.
Property sales are the most important factor valuers consider when determining 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. Registered land tax clients will receive their land tax assessment from Revenue NSW from January 2024. More information on land tax can be found at Revenue NSW web pages.
The latest land values for all properties in NSW are available on the Valuer General pages along with information on trends, medians and typical land values for each local government area.
| Property type | 1-Jul-22 | 1-Jul-23 | % change | Property count |
|---|---|---|---|---|
| Residential | $165,780,325,432 | $156,453,523,143 | -5.6% | 217,602 |
| Commercial | $6,664,441,182 | $6,807,987,783 | 2.2% | 5,175 |
| Industrial | $4,681,665,544 | $5,052,415,540 | 7.9% | 3,219 |
| Rural | $24,746,150,320 | $24,957,426,347 | 0.9% | 19,385 |
| Other | $13,673,471,544 | $14,309,874,459 | 4.7% | 14,958 |
| Total | $215,546,054,022 | $207,581,227,272 | -3.7% | 260,339 |
Bega Valley, Eurobodalla, Kiama, Shellharbour, Shoalhaven, Wingecarribee, Wollondilly and Wollongong.
The total land value for the South Coast region showed a slight decrease of 3.7% between 1 July 2022 and 1 July 2023 from $215.5 billion to $207.5 billion.
Residential land values have moderately decreased by 5.6% overall. The largest decreases were experienced in Shoalhaven (-10.2%) and Wollongong (-6.2%). While there remains a steady demand by owner occupiers and investors looking for coastal locations close to Sydney, continuing interest rate rises, inflation and increasing construction costs have resulted in a steadying or decrease across most market sectors.
Commercial land values showed a slight increase of 2.2% overall. Kiama (10.6%) showed a strong increase with relatively steady demand and limited supply throughout the period. Bega Valley (- 0.5%), Shellharbour (0.1%) and Wollongong (0.8%) remained steady.
A limited supply and the tightly held nature of the commercial market has underpinned values in recent years.
Industrial land values increased moderately by 7.9% overall. The highest increases were in Wollondilly (29.5%), Kiama (23.1%) and Eurobodalla (17.1%). This was mostly driven by the growing population bases and a limited supply of suitably zoned land. Wollondilly continues to experience high demand due to proximity to Sydney and its existing infrastructure in the Thirlmere, Picton and Maldon (heavy industrial) precincts.
Rural land values remained steady at 0.9% overall. The largest increases were seen in Wollondilly (5.7%) and Kiama (4.5%), although slight decreases were seen in Shoalhaven (-3.3%) and Bega (- 3.1%). Land value increases were driven by purchasers transitioning from residential suburbs within the local government area or from other more densely populated areas to lifestyle properties. Land value decreases in the rural sector are influenced in part by a weakening residential market.
For more information, visit: Valuer General pages
