Land Valuation Increases

Recent valuation notices for many properties in Brisbane’s Bayside have included a significant increase in the rateable value of the properties. Many increases have been in the order of 20%.

ValuationThe table below summarizes the increases in Median House Prices in the key Bayside suburbs.

While the prime purpose of the valuations is to assist government in levying land taxes, one of the positive outcomes is that the valuations reaffirm the increases in prices in the area, and support further gains. Certainly it is quite clear that it is cheaper to purchase a house than to build and this has been the case for some time.