Annual land values in Ipswich area show "minor reduction"

NEW property valuations issued by the State Government Valuer-General yesterday confirmed little movement in annual land values in the Ipswich City Council local government area.

Ipswich Mayor Paul Pisasale said property prices remained affordable and while the new valuations had shown a very small reduction for 2013, he believed the city was on track for future increases in property prices.

"In a city that was hit by two natural disasters, one in 2011 and again in 2013, we have been fortunate that there was only a minor reduction in values when compared to the damage sustained," Cr Pisasale said.

"There was a lot of damage to infrastructure from these natural disasters and this has certainly put pressure on the next council budget.

"A lot of hard work still needs to be done before the budget is handed down mid-year."