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Brisbane land values rise 10 per cent

Discussion in 'General Property Chat' started by Leo2413, 3rd Mar, 2016.

  1. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Last edited: 3rd Mar, 2016
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  2. Coota9

    Coota9 Well-Known Member Premium Member

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    I like it...I like it a lot:D:D
     
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  3. MTR

    MTR Well-Known Member Premium Member

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  4. MTR

    MTR Well-Known Member Premium Member

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    When you start getting good news then things start to happen, markets start to move....:)
     
  5. Blueskies

    Blueskies Well-Known Member

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    Double edged sword this one, great to hear more positive news for Brisbane but not so great that rates and land tax are going up!
     
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  6. Leo2413

    Leo2413 Well-Known Member Premium Member

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    I agree. I've observed similar. Hopefully the momentum keeps moving. Even if it just moves a little i'm happy :)
     
  7. Tyler Durden

    Tyler Durden Well-Known Member

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    I think it's the valuer general (not the governor general hehe) and it's based off sale values among other things....


    What is considered when valuing land?

    When determining statutory land values, our valuers:

    • research the property market
    • examine trends and sales information for each land use category (e.g. residential, commercial, industrial and rural)
    • inspect vacant or lightly improved properties that have recently been sold
    • interview vendors and purchasers of property, where appropriate
    • consider the land’s present use and zoning under the relevant planning scheme
    • take into account physical attributes and constraints on use of the land.

    About statutory land valuations in Queensland | Environment, land and water | Queensland Government

    What it could also be saying is that all of the high-rise construction in BCC, is not only going to effect rental yields and property values of similar, established properties but means...

    councils get to raise rates! So for the established, older apartment owner there's a good chance that their property value will go down but their rates will go up...:p

    This is common in construction led booms, us Sunny Coasters are well versed and more recently the people of Gladstone.
     
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  8. HUGH72

    HUGH72 Well-Known Member

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    The OSR will be looking to catch a few more fish in their bulging net.:p
     
  9. Leo2413

    Leo2413 Well-Known Member Premium Member

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    lol oops :oops:
     
  10. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Luckily I don't have any units in Brissy then :D
     
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  11. Scott No Mates

    Scott No Mates Well-Known Member

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    The state government pegs your rates to inflation. Land values play a very small role so the factor applied will decrease compared to last year.
     
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  12. Tyler Durden

    Tyler Durden Well-Known Member

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    What about local councils?
     
  13. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Giddy-up!!
     
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  14. Scott No Mates

    Scott No Mates Well-Known Member

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    Yes, states govern how much council can increase rates.
     
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  15. big max

    big max Well-Known Member

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    And Gold Coast even higher at 14%
     
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  16. God_of_money

    God_of_money Well-Known Member

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    Queensland valuations show average residential land increases of:

    • Toowoomba 18.5 per cent
    • Brisbane 9.9 per cent
    • Sunshine Coast 4.8 per cent
    • Gold Coast 14.4 per cent
    • Cairns 9.2 per cent.
     
  17. Scott No Mates

    Scott No Mates Well-Known Member

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    14.4% of nothing is still nothing.
     
  18. gman65

    gman65 Well-Known Member

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    BCC will be loving it, as well as the State Government. More stamp duty, more rates, more income.. Should flow through to more spending on higher infrastructure development, more jobs, and higher growth. If the oil price returns at all, look out.

    This hasn't happened for about 7 years here.. Interesting times.
     
  19. JDP1

    JDP1 Well-Known Member

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    Thats right.
    Oil will rebound in time. Its all cyclical.
    The interesting part is thaf Brisbane is going pretty well transitioning from resouces dependant to more heavy weight non mining. And more govt revenue should help that more.
     
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  20. big max

    big max Well-Known Member

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    Stupid statement. Please clarify.
     
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