The total land value for the Central West NSW region experienced a strong increase of 14.9 per cent from $32 billion to $36.5 billion.
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00:00 Residential land values across regional New South Wales
00:03 increased slightly by approximately 3%.
00:07 The majority of regional New South Wales
00:09 saw slight increases in value
00:11 with continued interest from purchases,
00:14 seeking affordable housing options
00:16 within close proximity to regional centres.
00:20 Commercial land values in regional New South Wales
00:23 increased by approximately 10%.
00:25 Most areas within regional New South Wales
00:28 experienced good demand for commercial property,
00:31 often underpinned by population growth,
00:34 infrastructure or other local development projects
00:37 and a continuing strong rural sector.
00:40 Industrial land values in regional New South Wales
00:44 increased strongly by approximately 22%.
00:48 These increases were experienced across most areas
00:51 and driven by high demand due to growing population bases,
00:55 limited supply and the continued strength
00:58 of the rural sector.
00:59 Rural land values in regional New South Wales
01:03 increased by approximately 10%.
01:06 Rural residential properties generally followed
01:09 the residential market with a slight increase,
01:13 whereas genuine rural properties continued to benefit
01:16 from long-term confidence in the rural sector
01:19 with a significant number of purchases
01:21 being existing landholders
01:23 looking to expand their farming operations.