The Queensland Department of Natural Resources, Mines and Energy has just released the Valuer-General’s 2020 Property Market Movement Report. The purpose of the investigation and report is to assess land values, and is how City Council’s and Land Tax charges are calculated.
Here is a link to the whole report on the Queensland Government’s website:
Below is the excerpt relating to residential property in Brisbane:
The residential market is the most significant land use with approximately 305,000 valuations in the suburbs of Brisbane. The residential median land value increased slightly from $455,000 to $460,000. The median values of 115 suburbs did not change. There were minor increases to several inner northern suburbs including Kalinga and Wooloowin. A number of Brisbane’s outer southern suburbs reflected minor to moderate increases due to their affordability and increased competition. The new median value for Durack is $280,000. There were seven suburbs that showed slight to minor decreases. The Moreton Island townships of Bulwar, Cowan Cowan and Kooringal showed minor decreases. The land values of the low to medium density multi-unit residential markets across Brisbane have remained static. The land values of high-density sites, located in the City fringe have seen minor decreases as demand for the larger redevelopment sites has softened due to the existing supply of units. The total land value for rural residential land has increased slightly. The median land value remains at $660,000.