There’s good news for landowners across the North West, with the latest data revealing an increase in property prices.
Overall land value for the region – not including homes or structures – has risen by as much as $1.6-billion between July 2017 and 2018.
Rural areas faired the best, up by more than 11-percent.
“Despite the backdrop of drier than seasonal weather conditions the total land values for rural have increased by 14.4% and that’s due to strong commodity prices for wool and wheat,” Michael Parker, Acting Valuer General NSW.
While residential, commercial and industrial properties across the North West also saw modest increases, between 1.4 and 4.2-percent.
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