The NSW Valuer General has published land values for the Sydney Coast South 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. 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 | $329,692,154,615 | $323,501,092,355 | -1.9% | 164,992 |
| Commercial | $18,471,244,060 | $18,720,245,290 | 1.4% | 5,989 |
| Industrial | $7,862,626,701 | $8,399,690,851 | 6.8% | 1,727 |
| Rural | $12,910,000 | $12,910,000 | 0.0% | 8 |
| Other | $17,137,832,122 | $16,622,794,052 | -3.0% | 11,220 |
| Total | $373,176,767,498 | $367,256,732,548 | -1.6% | 183,936 |
Bayside, Georges River, Randwick, Sutherland, Waverley and Woollahra.
The total land value for the Sydney Coast South region had a slight decrease of 1.6% between 1 July 2022 and 1 July 2023 from $373 billion to $367 billion.
Residential land values experienced an overall decrease of 1.9%. The market has slowed due to interest rate rises, inflation and increasing construction costs.
Commercial land values in the region showed an increase overall of 1.4%. Some smaller commercial centres with less pedestrian flow, passing trade and potential for redevelopment were more impacted in comparison to the main centres.
Industrial land in the region showed a moderate increase overall of 6.8%. This can be attributed to the reduced supply of industrial land due to properties being rezoned for residential development as well as the overall strong demand for industrial properties in the Greater Sydney Metropolitan area.
Rural land values remained steady with no change across the region. There are 10 rural properties located in the local government areas of Randwick and Bayside that are used as market gardens.
For more information, visit: Valuer General pages
