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.
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NewsTranscript
00:00 Residential land values across regional New South Wales increased slightly by approximately
00:05 3%.
00:07 The majority of regional New South Wales saw slight increases in value with continued interest
00:12 from purchasers seeking affordable housing options within close proximity to regional
00:18 centres.
00:20 Commercial land values in regional New South Wales increased by approximately 10%.
00:26 Most areas within regional New South Wales experienced good demand for commercial property,
00:31 often underpinned by population growth, infrastructure or other local development projects and a
00:38 continuing strong rural sector.
00:42 Industrial land values in regional New South Wales increased strongly by approximately
00:46 22%.
00:48 These increases were experienced across most areas and driven by high demand due to growing
00:53 population bases, limited supply and the continued strength of the rural sector.
01:01 Rural land values in regional New South Wales increased by approximately 10%.
01:07 Rural residential properties generally followed the residential market with a slight increase,
01:13 whereas genuine rural properties continued to benefit from long-term confidence in the
01:18 rural sector, with a significant number of purchasers being existing landholders looking
01:24 to expand their farming operations.
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