Your property is worth $75,000 more in this suburb

first_imgAerial photos of the Tugun bypass. Tugun has recorded a 19.1 per cent increase in land valuation.THE VALUE of land in some suburbs of the Gold Coast has jumped by more than 20 per cent despite a cooling housing market.The Valuer-General’s 2018 Property Market Movement Report report shows the median price for residential land on the Gold Coast increased by 8.3 per cent overall over the past year. Aerial of Bilinga and Kirra down to Coolangatta. Reporter: Travis Lye.Improving visitor numbers as well as development and infrastructure spending in the lead up to the Commonwealth Games were attributed to the increases.Bilinga and Tugun recorded the biggest valuation increase — jumping by 20.3 per cent and 19.1 per cent respectively.For Bilinga, that means a median value rise of $75,000. “Some localities such as Bilinga and Tugun reflected large increases in median values due to demand for well-located land,” said Valuer-General Neil Bray.“The median value of residential land in Tugun increased from $340,000 to $405,000.”“Bilinga, where the median land value increased from $370,000 to $445,000, shows the highest median value increase of the coastal suburbs.”More from news02:37International architect Desmond Brooks selling luxury beach villa19 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoConstruction at Miami, where land valuation has increased by 15.2 per cent in the past 12 months.While no Gold Coast suburbs declined in land value, 11 areas including Palm Beach, Coolangatta, and South Stradbroke recorded no change.“Land values have generally increased since the last valuation, with some moderate increases in some market sectors and localities,” Mr Bray said.“Residential values have risen in most locations, as did multi-unit, commercial and industrial lands and rural residential lands increased slightly.”Landholders are being urged to check their area’s valuations against council rates and leasehold rent.WINNERSBilinga 20.3 per cent to $445,000Tugun 19.1 per cent to $405,000Miami 15.2 per cent to $570,000Mermaid Beach 15 per cent to $1.15 millionCurrumbin Waters 14.3 per cent to $360,000LOSERSAdvancetown, Broadbeach, Clarigba, Coombabah, Currumbin Valley, Gaven, Lower Beechmont, Palm Beach, South Stradbroke, Springbrook, Wongawallan — zero per cent Runaway Bay 1.8 per cent to $560,000 Upper Coomera 3.3 per cent to $232,500Nerang 4.2 per cent to $250,000Pacific Pines 4.5 per cent to $232,500 Aerial from the southern end of the Gold Coast and Tweed Heads area. Tugun to Currumbin.last_img

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