Rainbow optimism shines in gloom
||RAINBOW Beach has defied the real estate doldrums with an 8.6% land valuation increase, compared to falls of about 10% at nearby Cooloola Cove and Tin Can Bay, and unchanged valuations in Gympie city, Southside and the Mary Valley.
Posted: 3 Apr 2012, 9:52 AM
RAINBOW Beach has defied the real estate doldrums with an 8.6% land valuation increase, compared to falls of about 10% at nearby Cooloola Cove and Tin Can Bay, and unchanged valuations in Gympie city, Southside and the Mary Valley.
The new valuations released yesterday show big falls of about 20% in areas like Kilkivan and Goomeri.
The valuations are a double-edged sword, with Rainbow Beach property owners facing probable rates rises because of the area's above- average price performance.
Gympie Region real estate has easily outperformed valuations announced yesterday for the neighbouring Fraser and Sunshine Coast regions.
While Gympie Region's overall values fell 1% compared to last year's valuations, average falls of 4% and 4.7% were recorded for the Fraser and Sunshine coasts.
Valuer-General Neil Bray said residential values in Gympie city were unchanged overall.
In decreases described as "moderate," Kilkivan land dropped in officially assessed value by more than 20% from $59,000 to $47,000.
He said the increase at Rainbow reflected "demand for a prime location and proximity to the beach."
On grazing and agricultural land, Mr Bray said limited sales had seen values remain steady.
"Seasonal conditions and commodity prices have generally been favourable over the past year although some properties were significantly impacted by the recent flood events."
"Larger industrial properties are in demand and have experienced small increases. Rural residential sites around Gympie, Southside and Mary Valley are generally unchanged."
Valuations were steady for Amamoor, Araluen, Brooloo, Cinnabar, Dagun, Glastonbury, Gympie, Imbil, Jones Hill, Kandanga, Monkland, Neerdie, Pie Creek, Southside, Tansey, Theebine, Traveston Victory Heights and Woolooga.
Cooloola Cove dropped 10.2%, Goomeri 19.5%, Kilkivan 20.3%, Tin Can Bay 9.7% and overall residential localities fell 3.8%.
The only rises were at Gunalda (7.1%) and Rainbow Beach (8.6%).
Nearby centres in Fraser Coast Region included Poona (-10.8%), Tiaro (-9.4%), Bauple (-9.4%), Gootchie (-9.2%) and Gundiah (-9.9%).
Nearby Sunshine Coast centres tended to remain steady, including Belli Park, Black Mountain, Cooroy, Cootharaba, Eumundi, Kenilworth, Lake Macdonald, Pomona and Tewantin.
Mr Bray said landowners believing their valuations to be wrong, should lodge an objection, with supporting information, with the Department of Environment and Resource Management by May 28.
Larger industrial properties are in demand and have experienced small increases.
Rainbow Beach valuations have helped Gympie Region stay afloat while other regions sink in a tough property market.