Longreach, Etheridge, Western Downs set for land revaluations

The three local government areas are among 18 that are being revalued, covering 1.03 million properties, following advice from Queensland’s Valuer-General, Neil Bray.

The degree of adjustment won’t be known until early in 2019, State Valuation Service Central West area manager, David Hobbs, said.

He said analysis of land markets in all three areas had found sufficient movement to conduct the valuations.

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“The Longreach town area had previously been valued in 2013 – it’s no secret that urban values have reduced since then,” he said. “Industrial commercial values will be coming down but, despite the drought, recent sales show a firming of the rural market in the Longreach region.”

It’s a similar story for the Etheridge shire, also valued last in 2013.

Mr Hobbs said the shire had requested a revaluation be undertaken.

“The market survey showed a static urban sector, however, investigations of rural sales indicated moderate increases in the grazing sector,” he said.

In the Western Downs region, Mr Hobbs said urban centres were still showing reductions from the fallout of the CSG transition and the resulting lower demand for housing.

“Dalby is stable though, and the primary production market is fully firm – it will see valuation increases.”

Price movements in more traditional straight farming country hadn’t been as strong, Mr Hobbs said, adding that any movement was likely due to opportunity cropping.

Longreach council mayor, Ed Warren said there were not really any surprises in the news.

“Recent land sales haven’t indicated any decline in the rural market,” he said.

“There does seem to be movement in the lower end of residential prices in Longreach too.

“There’s been no valuation change for four years so this is needed.”

If and when the valuations happened, Cr Warren said the council would adjust the cents in the dollar levied for rates to address any variances for landholders.

Earlier this year, landholders in the Maranoa Regional Council and Murweh Shire Council areas received big shocks when new land valuations were announced – the total value change of rural primary production land in Maranoa was 59.6 per cent and in Murweh, the increase in value was 52.9pc.

The range of rural valuation increases across other south western shires varied greatly, from 26.3pc in Quilpie, 20.2pc in Barcoo, 19.8pc in Diamantina, and 19.3pc in Boulia, to a 3.5pc increase in the Paroo shire and 2.7pc in the Bulloo shire.

According to the Valuer-General, the decision to select local government areas to be valued was based on a rigorous process that included consultation with councils, local groups and industry stakeholders, as well as detailed macro and micro-analysis of land sales since the area’s previous valuation.

Questioned about changing values in other western shires, particularly in the Blackall-Tambo region, where a number of significant property sales have taken place in the last 12 months, Mr Hobbs said the market survey hadn’t showed any significant movement.

“Regarding the Blackall sales, the Valuer-General took the view that they were ‘grass sales’ and not particularly reliable,” he said. “The Blackall-Tambo Regional Council also requested no revaluation at this stage.”

The last revaluation in that shire took place in 2016.

Mr Hobbs said landowners should also remember valuations were for land only, and didn’t consider dwellings or structures.

“People wishing to have their house or commercial premises and land valued should contact a registered property valuer,” he said.

Further information on Queensland’s annual valuation program is accessible on the internet.