Cook Shire LGA valuation overview
Overview of 2024 land valuation
For the Cook Shire local government area (LGA), the revaluation included 2,411 properties, with a total value of $481,244,260, an overall increase of 35 per cent since the last valuation issued in 2021.
Property market changes within the Cook Shire LGA are being driven by:
- a surge in residential investment post-Covid, before falling to sustainable levels in the current market
- tight vacancy rates within the residential sector underpinning the property market
- continued confidence within the primary production sector.
Total value by land use
| Land type | Value | Percentage of total land value |
|---|---|---|
| Commercial | $18,957,500 | 3.9% |
| Industrial | $14,478,400 | 3% |
| Primary Production | $185,832,160 | 38.6% |
| Single Unit Residential | $82,974,200 | 17.2% |
| Multi-Unit Residential | $321,000 | 0.1% |
| Rural Residential | $177,603,900 | 36.9% |
| Other | $1,077,100 | 0.2% |
| LGA total | $481,244,260 | 100% |
Note: The sum of percentages may not equal 100% due to rounding.
Residential land
There has been a minor increase in median values within the residential market sectors of the Cook Shire LGA since the last valuation. The overall median value for residential land in the Cook Shire LGA is $75,000, an increase of 10.3 per cent.
The table below shows the changes in median value of residential land in the Cook 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 |
|---|---|---|---|---|
| Coen | $23,500 | $23,500 | 0% | 57 |
| Cooktown | $72,000 | $78,000 | 8.3% | 750 |
Explanatory notes
- The residential markets within the coastal towns of the Cook Shire LGA generally recorded valuation increases, whilst those located further inland generally remained steady.
Rural residential land
The table below shows the changes in median value for rural residential land in the Cook Shire LGA.
| Previous median value (at 1 October 2020) | New median value (at 1 October 2023) | Change in median value | Number of properties |
|---|---|---|---|
| $126,000 | $144,000 | 14.3% | 1,077 |
Explanatory notes
- The rural residential market throughout the Cook Shire LGA increased with some minor increases to various properties and localities.
Other land uses
The table below shows the total value of land uses (other than residential and rural residential land) in the Cook 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 | $18,359,500 | $18,957,500 | 3.3% | 79 |
| Industrial | $13,474,500 | $14,478,400 | 7.5% | 24 |
| Primary Production | $95,480,660 | $185,832,160 | 94.6% | 124 |
| Multi-Unit Residential | $292,000 | $321,000 | 9.9% | 4 |
| Other | $684,300 | $1,077,100 | 57.4% | 192 |
Explanatory notes
- Commercial, industrial, and multi-unit lands are mostly confined to the town of Cooktown, where minor increases in valuation were recorded.
- Primary production land recorded a significant increase due to continued confidence in the pastoral and agricultural markets.
- Other land recorded a significant increase due to valuation of mining leases aligning to the primary production levels of value.
More information
To view the valuation roll display listing for the Cook Shire LGA, you can:
- see land valuations online
- visit the Cook Shire Council, 10 Furneaux Street, Cooktown during business hours until 30 June 2024.