The NSW Valuer General published its annual land values for the state up to July 1, 2023. In it revealed the Central West saw the second biggest spike (up 14.0 per cent) across all of NSW.

Those figures also showed there had been a rise in the value of all different types of land in the Blayney Shire Council area, up 6.1 per cent total from the previous year.

While commercial (21.4 per cent) and industrial (25.2 per cent) saw the biggest spikes, it was residential land across the shire which grew by the largest dollar amount.

So what brought about this change and which towns in particular stood out?

Well, a statement from the NSW Valuer General said the strong demand was "primarily driven by purchasers relocating from the nearby cities of Bathurst and Orange, seeking affordability."

"However, the villages of Neville and Mandurama experienced slight increases noting a stabilisation of value levels and demand following strong value increases in the previous 12-month period."

In terms of which towns have seen the greatest uptick, Blayney itself rises above the rest.

The value of Lane Street grew from $145,000 to $190,000 over the 12 month period, with Raphael Street's rise from $140,000 to $185,000 was the biggest percentage (32.1 per cent) growth across the shire.

Graham Road, Maple Crescent, Medway Street, Mount Street and Quamby Place all saw rises of at least 15 per cent.

But it wasn't just Blayney where residential land value increased.

Eulamore Street ($125,000 to $160,000) and Jones Street ($140,000 to $180,000) in Carcoar each saw rises of nearly 30 per cent, while Trunky Street in Newbridge saw a $20,000 increase.

Despite having a reputation as notable tree-change location, Millthorpe's growth was much less than its shire counterparts, with Boomerang Road rising by just 6.4 per cent.

Both commercial and industrial land values in the town of Blayney were also on the rise, with the Valuer General pointing to one notable reason.

"Mostly attributable to the recent conditional approval (March 2023) of McPhillamy's Gold Mine leading to increased levels of economic confidence across the district.

"Larger commercial properties north of the Blayney CBD, including the Blayney trade centre, experienced a very strong increase.

"This locality includes properties suitable for warehousing and logistics, which is a primary driver for industrial value levels in the region with purchasers seeking modern warehousing spaces on larger sites with good transport links."