Land values across Hay Shire have increased by 4.5 per cent residential and 6.3 per cent rural.

The biggest rise in residential land value in the region is Balranald with a whopping 35.9 per cent while Carrathool Shire leads the way with 7.7 per cent in rural increases.

Edward River came in at a 2.7 per cent rise for residential, 4.5 per cent commercial and 1.6 per cent rural.

Overall, regional New South Wales land values have risen by almost $9 billion according to new analysis from the NSW Valuer General.

The land values reflect the value of land only, as at July 1, 2024.

The total land value for regional NSW experienced a combined increase of 2.7 per cent across all property types from $329 billion to $338 billion between July 2023 and July 2024.

Property sales are the most important factor valuers consider when determining land values.

Land values are provided to local councils at least every three years for calculating council rates.

Landholders have 60 days from receiving their notice to object to their land valuation if they believe it is incorrect and can provide sales evidence to support their claim.  

This article appeared in  The Riverine Grazier, 18 December 2024.