Half a million will get you dirt in Noosa's dearest suburb
QUEENSLAND'S highest rise in coastal land values have been registered in a region driven by demand for beachside and hinterland living.
Noosa's average residential land values rose by 11.3 per cent since the previous State Government valuation in 2016.
Valuer-General Neil Bray said residential values had risen in all coastal and hinterland suburbs.
Mr Bray said some commercial and industrial land increased and the rural residential and primary production markets increased, reflecting the demand for hinterland properties.
"Some localities such as Peregian Beach and Castaways Beach reflected moderate increases in median values due to the demand for well-located coastal properties with the median value of residential land in Peregian Beach rising from $295,000 to $340,000," Mr Bray said.
He said the average value in Noosa had increased from $237,500 to $270,000, reflecting the continuing demand for coastal lifestyle property on the Sunshine Coast.
"The prime coastal strip from Peregian Beach through to Noosa Heads has had a minor rise in values with new median values ranging from $310,000 at Marcus Beach up to $520,000 at Sunshine Beach."
Riverfront suburbs of Noosaville and Tewantin had minor increases with the average value in Tewantin up from $190,000 to $217,500.
"Most rural residential property values have had minor increases, except for the more remote localities where values remained unchanged."
He said multi-unit land values have risen for smaller lots within Noosa, largely underpinned by increasing residential land values.
The larger parcels were generally unchanged, which led to an overall slight increase in total land values.
"Industrial land values increased in most areas with the minor change overall reflecting current economic conditions in Noosa with active residential and tourism sectors underpinning the local economy."
He said commercial land values had a slight increase overall with most values unchanged in the main urban area and minor increases in some hinterland towns and parts of Noosaville.
"Farming activities such as cattle, small crops and tree crops are significant enterprises throughout the Noosa Council area.
"Rural land values have had a moderate increase overall, reflecting the demand for well-located hinterland farming properties in the Sunshine Coast region."
Average land value changes from October 2015 to October 2017
Black Mountain was $118,000 and rose to $130,000: an increase of 10.2 per cent
Boreen Point was $152,500 and rose to $167,500: an increase of 9.8 per cent
Castaways Beach was $330,000 and rose to $380,000: an increase of 15.2 per cent
Cooran was $128,000 and rose to $141,000: an increase of 10.2 per cent
Cooroibah was $150,000 and rose to $165,000: an increase of 10 per cent
Cooroy was $207,500 and rose to $227,500: an increase of 9.6 per cent
Kin Kin was $78,000 and rose to $84,000: an increase of 7.7 per cent
Lake Macdonald was $215,000 and rose to $237,500: an increase of 10.5 per cent
Marcus Beach was $270,000 and rose to $310,000: an increase of 14.8 per cent
Noosa Heads was $335,000 and rose to $385,000: an increase of 14.9 per cent
Noosa North Shore was $297,500 and rose to $302,500: an increase of 1.7 per cent
Noosaville was $305,000 and rose to $350,000: an increase of 14.8 per cent
Peregian Beach was $295,000 and rose to $340,000: an increase of 15.3 per cent
Pinbarren was $80,000 and rose to $88,000: an increase of 10 per cent
Pomona was $165,000 and rose to $182,500: an increase of 10.6 per cent
Ringtail Creek was $104,000 and rose to $114,000: an increase of 9.6 per cent
Sunrise Beach was $275,000 and rose to $315,000: an increase of 14.6 per cent
Sunshine Beach was $455,000 and rose to $520,000: an increase of 14.3 per cent
Tewantin was $190,000 and rose to $217,500: an increase of 14.5 per cent
Tinbeerwah was $212,500 and rose to $235,000: an increase of 10.6 per cent