Blayney's residential land value has increased by 20 per cent

Land values boom in Blayney and region

If you own the land that you're residential home is currently on and it's in the Blayney Local Government Area, the value went up 20.1 per cent between 1 July 2020 and 1 July 2021.

The NSW Valuer General, Dr David Parker, has published land values for the Central Tablelands region and shows that Blayney's residential land values have risen lower than the regional average of 24.7 per cent.

The strongest increases were experienced in Orange 39.7 per cent, and Cowra 38.7 per cent, thanks to the high level of interest from purchasers seeking alternative lifestyle options in regional areas over metropolitan living.

Add to that low listing numbers, low mortgage interest rates and improving economic conditions and the growth all adds up.

The figures are for the land value only and don't include the bricks and mortar sitting atop.

Commercial land values have increased 12.6 per cent in Blayney which is higher than the 11.2 per cent across the region.

The strongest increases in commercial values were experienced in Mid-Western Regional (22.2 per cent), and Orange (14.1 per cent), mostly attributable to the strong demand from the health, tourism, manufacturing, and mining sectors.

Industrial land saw a modest increase of 3.6 per cent against a regional increase of 14.6 per cent with Cowra and Orange leading the way with 21.8 per cent and 18.6 per cent respectively.

It was in the value of rural properties that has increased the most with Mid-Western Regional gaining 30.2 per cent, Blayney 27.5 per cent, and Orange 25.1 per cent, beating the regional average of 22.1 per cent.

The villages that have seen the most growth in value, statistically speaking, are the localities of Neville and Barry which both experienced very strong increases to land values.

This is due to the proximity of these villages to Bathurst, Blayney, Blue Mountains and Sydney.

HAVE YOUR SAY:

Send us your thoughts with a letter to the editor: