News

City's land valuations defy odds

Ipswich City Council Mayor Paul Pisasale (second left) welcomed the results.
Ipswich City Council Mayor Paul Pisasale (second left) welcomed the results.

IPSWICH property values have resisted a downward trend across Queensland to be the only council area in south-east corner to record an increase in land rates valuations in 2011.

The state Valuer General's market movement report released yesterday showed our flood-hit region recorded a minor 0.1% increase in residential property values, compared to falls in Brisbane (-2.8%), Logan (-11.2%), Redland (-11.5%) and Moreton Bay (-6.8%).

Of the 49,851 properties values in Ipswich, only the suburb of Deebing Heights, which currently has 368 rateable properties, recorded any change in the median value.

The valuations come after Ipswich recorded a 15% overall increase in land valuations in the April 2011 report, following no valuations in 2009 or 2010.

Ipswich City Council Mayor Paul Pisasale welcomed the results.

"Once again we've gone against the state trend," Cr Pisasale said.

"The city went through a tough time last year. The flood knocked us about, but now we are seeing the property

market maintain its value or record a small increase."

Cr Pisasale said he was proud of the city's record of consistently keeping rates below neighbouring councils and the new valuations would help minimise future rate rises.

"It's going to help us in the determination of the rates. More importantly it's not how you collect the rates, it's what you spend it on and you can see in the city we're getting good value for money," he said.

Valuer-General Neil Bray said the Ipswich City Council area's land values reflected the static market in the region.

"The volume of property transfers recorded with the Registrar of Titles has decreased by 22% over the past 12 months and is at its lowest level for a decade," Mr Bray said.

Land values across both the Somerset and Lockyer valleys also remained steady last year at -0.3% and 0% respectively.

The Scenic Rim recorded a 0.7% drop overall, but some individual areas recorded significant changes; with Running Creek 78.6% and Rathdowney 71.7% recording the biggest increases.

Mr Bray said a comprehensive review had been conducted in the Scenic Rim Regional Council area.

"Residential values fell in the Mount Tamborine and Beaudesert areas," he said.

"Some areas such as Rathdowney recorded large increases in median values due to the review of values in those areas based on sales evidence."

Landowners who believe their valuation to be incorrect, and can provide supporting information, can lodge an objection with DERM by May 28.

Topics:  economy ipswich land mayor paul pisasale property real estate



YOUR PHOTOS: Ipswich goes back to school

My daughter Leah (grade 6) and sons Corey (grade 4) and Blake (prep) and of course their three-year-old brother, Darcy.

We popped some of these happy snaps in the below gallery

Bell rings for the first time at Ipswich's newest school

WELCOME: Bellbird Park State Secondary College principal Michael West greets new Year 7 students on their first day of school.

Principal Michael West welcomes youngsters at Bellbird Park.

WATCH: Sneak peek at landmark legal drama 'Don't Tell'

Sara West

'Two thirds of the movie was filmed in Ipswich'

Local Partners

Louis Tomlinson celebrated his son's first birthday

Louis Tomlinson and Briana Jungwirth celebrate son's first birthday

Kylie Minogue will take husband's name

Kylie Minogue will take her fiancé Joshua Sasse's surname

WATCH: Sneak peek at landmark legal drama 'Don't Tell'

Sara West

'Two thirds of the movie was filmed in Ipswich'

Nicole reveals her biggest parenting challenges

Actress Nicole Kidman.

Nicole Kidman says her kids are ‘deeply attuned' to her moods.

Suicide Squad director reveals his regrets about the film

Margot Robbie in a scene from the movie Suicide Squad.

DIRECTOR of superhero flick on what he’d change about ‘flawed’ film.

Meet the new Marco on MasterChef Australia: Yotam Ottolenghi

Israeli-born, London-based chef Yotam Ottolenghi will be a guest chef for a week on the 2017 season of MasterChef Australia.

AFTER Marco’s defection to Seven, MasterChef signs a true food hero.

Stockland's $150m pitch: Build it and they will come

Gladstone Marina. The Gladstone Regional Council offers a range of exciting job opportunities. Photo Contributed: Murray Ware.

Here's why we need to see Stockland upgrade start soon.

Ipswich house prices looking up in "seller's market”

Region's median house price climbed 1.4% to $325,000 and the median unit price fell 13.8% to $235,000 in the September quarter.

Median house price climbs 1.4% to $325,000 as unit price falls 13.8%

By the water's edge

Secure your seachange

Work to be done before Hungry Jack's opens

Roadworks outside the Hungry Jack's restaurant at Brassall must be completed before it opens.

Ipswich residents will have to wait for their Whoppers

HOT PROPERTY: Money to spend on land, buildings

File picture.

Sale, leasing of industrial real estate picks up in Mackay

Ready to SELL your property?

Post Your Ad Here!