Redland City LGA valuation overview
Overview of 2024 land valuation
For the Redland City local government area (LGA), the revaluation included 62,772 properties, with a total value of $34,548,024,950, an overall increase of 31 per cent since the last valuation issued in 2022.
Property market changes within the Redland City LGA are generally driven by:
- strong migration to the south-east corner of Queensland
- limited new land supply and increased demand for land
- more affordable land than in the adjoining Brisbane City
- an increased willingness to commute and/or work from home.
Total value by land use
| Land type | Value | Percentage of total land value |
|---|---|---|
| Commercial | $1,028,594,500 | 3% |
| Industrial | $391,915,000 | 1.1% |
| Primary Production | $118,705,700 | 0.3% |
| Single Unit Residential | $28,142,625,400 | 81.5% |
| Multi-Unit Residential | $1,789,770,000 | 5.2% |
| Rural Residential | $2,860,562,000 | 8.3% |
| Other | $215,852,350 | 0.6% |
| LGA total | $34,548,024,950 | 100% |
Note: The sum of percentages may not equal 100% due to rounding.
Residential land
There has generally been a significant increase in median values within the residential market sectors of the Redland City LGA since the last valuation. The overall median value for residential land in the Redland City LGA is $510,000, an increase of 36 per cent.
The table below shows the changes in median value of residential land in the Redland City LGA. The table includes localities with a minimum of 50 properties as residential land use.
| Locality | Previous median value (as at 1 October 2021) | New median value (as at 1 October 2023) | Change in median value | Number of properties |
|---|---|---|---|---|
| Alexandra Hills | $365,000 | $510,000 | 39.7% | 5,658 |
| Amity | $342,500 | $545,000 | 59.1% | 344 |
| Birkdale | $405,000 | $570,000 | 40.7% | 4,617 |
| Capalaba | $355,000 | $495,000 | 39.4% | 4,466 |
| Cleveland | $500,000 | $630,000 | 26% | 4,444 |
| Coochiemudlo Island | $165,000 | $230,000 | 39.4% | 667 |
| Dunwich | $235,000 | $375,000 | 59.6% | 388 |
| Karragarra Island | $95,000 | $119,000 | 25.3% | 204 |
| Lamb Island | $50,000 | $70,000 | 40% | 623 |
| Macleay Island | $50,000 | $70,000 | 40% | 3,253 |
| Mount Cotton | $340,000 | $440,000 | 29.4% | 2,063 |
| Ormiston | $470,000 | $610,000 | 29.8% | 1,950 |
| Point Lookout | $645,000 | $850,000 | 31.8% | 714 |
| Redland Bay | $410,000 | $530,000 | 29.3% | 5,910 |
| Russell Island | $35,000 | $55,000 | 57.1% | 6,401 |
| Thorneside | $410,000 | $530,000 | 29.3% | 1,018 |
| Thornlands | $370,000 | $465,000 | 25.7% | 5,573 |
| Victoria Point | $425,000 | $530,000 | 24.7% | 4,984 |
| Wellington Point | $480,000 | $650,000 | 35.4% | 4,294 |
Explanatory notes
- The residential markets within all suburbs of the Redland City LGA saw increases ranging from moderate to significant.
- Redland Bay island residential markets have increased significantly due to high demand, limited supply and low price point affordability.
Rural residential land
The table below shows the changes in median value for rural residential land in the Redland City LGA.
| Previous median value (at 1 October 2021) | New median value (at 1 October 2023) | Change in median value | Number of properties |
|---|---|---|---|
| $670,000 | $870,000 | 29.9% | 3.319 |
Explanatory notes
- The rural residential market throughout the Redland City LGA moderately increased in value.
Other land uses
The table below shows the total value of land uses (other than residential and rural residential land) in the Redland City LGA.
| Land use category | Previous total land value (at 1 October 2021) | New total land value (at 1 October 2023) | Change in total land value | Number of properties |
|---|---|---|---|---|
| Commercial | $772,243,000 | $1,028,594,500 | 33.2% | 561 |
| Industrial | $261,974,500 | $391,915,000 | 49.6% | 313 |
| Primary Production | $111,992,900 | $118,705,700 | 6% | 78 |
| Multi-Unit Residential | $1,319,927,500 | $1,789,770,000 | 35.6% | 807 |
| Other | $168,144,000 | $215,852,350 | 28.4% | 113 |
Explanatory notes
- The commercial land market throughout the Redland City LGA increased significantly in value. This was due to a lack of properties for sale and land for development coupled with strong investor demand.
- The industrial land market throughout the Redland City LGA increased significantly in value. The Greater Brisbane industrial market, of which the Redland City LGA is part, has been strong since the COVID-19 pandemic, with investment demand strong.
- The primary production land market throughout the Redland City LGA increased in value by a minor amount. There is a limited number of primary production valued parcels in the Redland City LGA and ownership is tightly held.
- The multi-unit residential land market throughout the Redland City LGA increased significantly in value. This was due to strong demand from developers, despite a challenging construction environment.
- The ‘other’ land use market throughout the Redland City LGA increased moderately in value. This group includes sub-groups of special use properties including residential subdivision land (englobo), parkland, bowls clubs, golf courses, sports and recreation sites, quarries, cemeteries, educational establishments and electrical transformer sites.
More information
To view the valuation roll display listing for the Redland City LGA, you can:
- see land valuations online
- visit the Redland City Council, Cleveland Customer Service Centre, Cnr Bloomfield and Middle Streets, Cleveland during business hours until 30 June 2024.