MAP: How much land is worth in your suburb
LAND in Augustine Heights is the most valuable in Ipswich, according to new valuations.
The State Government yesterday released suburb lists for each local government area following valuations across 28 council areas.
It shows land values in Augustine Heights have increased by a whopping $40,000, on average, since 2015.
But Camira was the standout with the average land value increasing by $45,000 to $227,500, up from $182,500, based on the valuation of 2307 properties.
The average sale price of a house in Camira is $445,000, according to RP Data.
Queensland Valuer-General Neil Bray said the growth in some areas, including Camira and Springfield, came down to property trends with buyers gravitating toward suburbs where they could achieve "value for money".
"Residential median values have risen in most locations," Mr Bray said.
"Some localities, such as Camira and Springfield in the city's east reflected moderate increases in median values due to strong demand for value for money locations with the median value of residential land in Camira increasing from $182,500 to $227,500."
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While Redbank Plains, the most populated Ipswich suburb, didn't make the list of most valuable areas it has experienced significant growth.
In 2015 the average land value in Redbank Plains was $132,000.
Now that's up to $152,500; an increase of 15.5%.
Across Ipswich land values, including commercial and industrial land, have increased by 12.6% compared to an 11.5% increase in residential land values.
Ten of the 28 local government areas valued this year recorded an overall increase in average residential land values while the Maranoa district recorded a decrease of 54.6%.
"It is important that landowners realise that valuation notices are not rate notices," he said.
"Rates are set by local governments under the Local Government Act 2009 when they determine their annual budgets.
"The setting of rates is based on a number of factors - valuations are only one of those factors."
Mr Bray said landowners who believed their valuation was incorrect, and could provide information to support this, could lodge an objection on the Land Valuations website or in writing by 8 May 2017.
Top five most valuable suburbs
- Augustine Heights $240,000 Up from $200,000
- Camira $227,500 Up from $182,500
- Pine Mountain $220,000 No change
- Springfield $215,000 Up from $172,500
- Springfield Lakes $207,500 $172,500
Click on your suburb to see the average land value