Banana Shire LGA valuation overview
Overview of 2024 land valuation
For the Banana Shire local government area (LGA), the revaluation included 6,822 properties, with a total value of $5,332,041,564, an overall increase of 136 per cent since the last valuation issued in 2021.
Property market changes within the Banana Shire LGA are being driven by:
- infrastructure development – planned projects for the generation and transmission of renewable energy
- commodity prices
- seasonal conditions.
Total value by land use
| Land type | Value | Percentage of total land value |
|---|---|---|
| Commercial | $17,080,700 | 0.3% |
| Industrial | $33,067,200 | 0.6% |
| Primary Production | $5,082,020,900 | 95.3% |
| Single Unit Residential | $145,072,210 | 2.7% |
| Multi-Unit Residential | $2,168,000 | 0% |
| Rural Residential | $45,133,560 | 0.8% |
| Other | $7,498,994 | 0.1% |
| LGA total | $5,332,041,564 | 100% |
Note: The sum of percentages may not equal 100% due to rounding.
Residential land
There have been some significant increases in median values within the residential market sectors of the Banana Shire LGA since the last valuation. However, some localities have not changed, and Biloela has decreased. The overall median value for residential land in the Banana Shire LGA is $41,500, a decrease of 18.6 per cent.
The table below shows the changes in median value of residential land in the Banana Shire LGA. The table includes localities with a minimum of 50 properties as residential land use.
| Locality | Previous median value (as at 1 October 2020) | New median value (as at 1 October 2023) | Change in median value | Number of properties |
|---|---|---|---|---|
| Banana | $17,800 | $17,800 | 0% | 81 |
| Baralaba | $11,800 | $21,000 | 78% | 146 |
| Biloela | $58,000 | $46,500 | -19.8% | 2,084 |
| Cracow | $2,000 | $2,000 | 0% | 50 |
| Moura | $11,600 | $11,600 | 0% | 896 |
| Taroom | $18,200 | $21,000 | 15.4% | 331 |
| Thangool | $13,600 | $24,500 | 80.2% | 121 |
| Theodore | $7,900 | $22,000 | 178.5% | 208 |
| Wowan | $7,000 | $7,000 | 0% | 76 |
Explanatory notes
- The residential market within Banana, Cracow, Moura and Wowan remained steady.
- The residential market within Biloela decreased and reflects a moderate change in value.
- The residential market within Baralaba, Taroom, Thangool and Theodore increased and reflects a significant change in value.
Rural residential land
The table below shows the changes in median value for rural residential land in the Banana Shire LGA.
| Previous median value (at 1 October 2020) | New median value (at 1 October 2023) | Change in median value | Number of properties |
|---|---|---|---|
| $68,000 | $74,000 | 8.8% | 575 |
Explanatory notes
- The rural residential market throughout the Banana Shire LGA increased with some minor increases to various properties.
Other land uses
The table below shows the total value of land uses (other than residential and rural residential land) in the Banana Shire LGA.
| Land use category | Previous total land value (at 1 October 2020) | New total land value at (1 October 2023) | Change in total land value | Number of properties |
|---|---|---|---|---|
| Commercial | $15,737,600 | $17,080,700 | 8.5% | 195 |
| Industrial | $26,431,400 | $33,067,200 | 25.1% | 238 |
| Primary Production | $1,996,681,500 | $5,082,020,900 | 154.5% | 1,613 |
| Multi-Unit Residential | $2,707,500 | $2,168,000 | -19.9% | 29 |
| Other | $7,352,772 | $7,498,994 | 2% | 85 |
Explanatory notes
- Commercial land recorded a minor increase.
- Industrial land recorded a moderate increase due to ongoing activity within the resources industry and expansion of local business.
- Primary production land recorded a significant increase driven by commodity prices and favourable seasonal conditions, which positively influenced confidence, particularly in grazing markets.
- Multi-unit land is predominantly located in Biloela, which recorded a moderate decrease in line with the surrounding residential market.
- Other mixed land uses recorded a minor increase with their respective associated markets.
More information
To view the valuation roll display listing for the Banana Shire LGA, you can:
- see land valuations online
- visit the Banana Shire Council Chambers, 62 Valentine Plains Road, Biloela during business hours until 30 June 2024.