Aerial 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-Generals 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 from the southern end of the Gold Coast and Tweed Heads area. Tugun to Currumbin.
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.
Construction 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 areas valuations against council rates and leasehold rent.
WINNERS
Bilinga 20.3 per cent to $445,000
Tugun 19.1 per cent to $405,000
Miami 15.2 per cent to $570,000
Mermaid Beach 15 per cent to $1.15 million
Currumbin Waters 14.3 per cent to $360,000
LOSERS
Advancetown, 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 $232,500
Nerang 4.2 per cent to $250,000
Pacific Pines 4.5 per cent to $232,500
https://www.realestate.com.au/news/your-property-is-worth-75000-more-in-this-suburb/
