Central Highlands Regional LGA valuation overview
Overview of 2024 land valuation
For Central Highlands Regional local government area (LGA), the revaluation included 12,529 properties, with a total value of $8,866,776,591, an overall increase of 101 per cent since the last valuation issued in 2021.
Property market changes within Central Highlands Regional LGA are being driven by the continued confidence within rural industries, particularly the cattle industry. Certain urban markets are being impacted by current economic conditions and high interest rates, and others by an improved resource sector.
Total value by land use
| Land type | Value | Percentage of total land value |
|---|---|---|
| Commercial | $86,086,900 | 1% |
| Industrial | $116,515,200 | 1.3% |
| Primary Production | $7,727,886,700 | 87.2% |
| Single Unit Residential | $443,138,950 | 5% |
| Multi-Unit Residential | $26,228,900 | 0.3% |
| Rural Residential | $263,036,290 | 3% |
| Other | $203,883,651 | 2.3% |
| LGA total | $8,866,776,591 | 100% |
Note: The sum of percentages may not equal 100% due to rounding.
Residential land
There have been varying changes in median values within the residential market sectors of Central Highlands Regional LGA since the last valuation. The overall median value for residential land in Central Highlands Regional LGA is $58,000, an increase of 3.6 per cent.
The table below shows the changes in median value of residential land in Central Highlands Regional 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 |
|---|---|---|---|---|
| Blackwater | $12,000 | $21,750 | 81.3% | 2,174 |
| Bluff | $6,700 | $12,000 | 79.1% | 163 |
| Capella | $23,000 | $41,500 | 80.4% | 297 |
| Dingo | $7,850 | $14,100 | 79.6% | 58 |
| Duaringa | $11,000 | $19,800 | 80% | 102 |
| Emerald | $74,000 | $74,000 | 0% | 4,222 |
| Rolleston | $30,500 | $30,500 | 0% | 53 |
| Rubyvale | $15,800 | $35,000 | 121.5% | 260 |
| Sapphire Central | $19,800 | $37,250 | 88.1% | 226 |
| Springsure | $51,000 | $51,000 | 0% | 355 |
| Tieri | $15,000 | $27,000 | 80% | 524 |
| Willows | $1,600 | $3,200 | 100% | 93 |
Explanatory notes
- The residential market within Central Highlands towns have shown varying changes since the last revaluation in 2021, with the exception of Emerald, Comet, Rolleston and Springsure where sales show no change in value.
- Emerald is being impacted by recent unfavourable economic conditions and high interest rates. The towns of Blackwater, Tieri and Bluff are reliant on the resource sector where there is improved confidence.
- A sales-based relativity review within the Gemfield towns of Rubyvale, Sapphire, Anakie and The Willows have shown significant increases. The township of Bauhinia has shown a moderate increase.
Rural residential land
The table below shows the changes in median value for rural residential land in Central Highlands Regional LGA.
| Previous median value (at 1 October 2020) | New median value (at 1 October 2023) | Change in median value | Number of properties |
|---|---|---|---|
| $135,000 | $170,000 | 25.9% | 1,322 |
Explanatory notes
- This market is generally centred around Emerald, with sales showing some moderate to significant increases depending on location.
Other land uses
The table below shows the total value of land uses (other than residential and rural residential land) in Central Highlands Regional 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 | $77,223,200 | $86,086,900 | 11.5% | 375 |
| Industrial | $98,867,470 | $116,515,200 | 17.9% | 503 |
| Primary Production | $3,492,394,800 | $7,727,886,700 | 121.3% | 1,316 |
| Multi-Unit Residential | $24,673,700 | $26,228,900 | 6.3% | 245 |
| Other | $126,822,205 | $203,883,651 | 60.8% | 149 |
Explanatory notes
- The main commercial areas are in the towns of Emerald and Blackwater. Limited sales have shown no change in value in Emerald due to current economic conditions and impacts of higher interest rates. Sales within Blackwater have shown a significant increase in value, due to the improved resource sector.
- Cattle commodity prices reduced during 2023, after significant growth between 2019 and 2022. This corresponded with significant increase in rural land values during that period as a result of continued low interest rates, good seasons, and high commodity prices. Sales within 2023 support the continued confidence, even with lower commodity prices and higher interest rates.
- The main industrial areas are within the towns of Emerald, Capella and Blackwater. Overall, the industrial land recorded a moderate increase due to sales showing no change in value in Emerald due to current economic conditions and impacts of interest rates, and sales within Blackwater showing a significant increase in value due to the improved resource sector.
- The main multi-unit markets lie in Emerald and Blackwater. Limited sales within the multi-unit residential market have shown generally no change in the market within Emerald. Blackwater multi-unit properties were increased significantly in line with residential sales.
- Other land recorded a significant increase, which includes land uses such as mining/petroleum lease valuations. These leases are valued in accordance with the Land Valuation Act 2010.
More information
To view the valuation roll display listing for Central Highlands Regional LGA, you can:
- see land valuations online
- visit the Department of Resources, 99 Hospital Road, Emerald during business hours until 30 June 2024.