Residential land values jumped in Port Macquarie and Kempsey as sea and tree changers relocating to work remotely drove demand across the North Coast.
The NSW Valuer General, Dr David Parker, has published land values for the North Coast spanning from Tweed Heads to the MidCoast council areas.
The land values reflect the value of land only as at July 1, 2021.
Dr Parker said property sales were the most important factor valuers considered when determining land values.
"Land value is the value of the land only and does not include the value of a home or other structures," Dr Parker said.
Residential land values increased by 27.9 per cent overall on the North Coast.
Strong increases in residential land values were experienced in Port Macquarie (17.9 per cent) and Kempsey (17 per cent).
Commercial land values jumped by just over 27 per cent in Port Macquarie and 10.7 per cent in Kempsey.
Industrial land values for the North Coast increased by 22.6 per cent.
A rise in building activity saw demand outstrip supply in Port Macquarie-Hastings (36.5 per cent), while Nambucca (31.9 per cent) saw strong demand for limited stock.
Rural land values across the region increased by 30.5 per cent.
Nambucca experienced a 28.8 per cent rise in rural land values.
Private contract valuers with expertise in their local areas prepared the July 1, 2021 land values, on behalf of the Valuer General, to determine new land values across the region.
The valuers consider a range of factors in determining land value including the features of the land and its legally permitted use.
"Valuer General NSW has quality assured the land values for fairness and consistency," Dr Parker said.
Revenue NSW will use the July 1, 2021 land values to calculate land tax for the 2022 land tax year.
Registered land tax clients will receive a land tax assessment from Revenue NSW from late January 2022.
Dr Parker encouraged the public to visit the Valuer General NSW website or call 1800 110 038 for more information on land values and the valuation system.
"The latest land values for all properties in NSW are available on our website along with information on trends, medians and typical land values for each local government area," he said.
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