Valuer-General’s 2018 property market movement report released
The Queensland Valuer-General has released the Valuer-General’s 2018 property market movement report, with new valuations available from 7 March.
As announced in October last year, only 22 local government areas (less than 30 per cent of rateable properties across Queensland) will be valued in 2018.
The movement report indicates there has been an overall increase in land values across these 22 councils for the past 12 months.
Last year’s decision made by the Valuer-General to only value 22 councils- and exclude the likes of Brisbane, Logan, Ipswich and Moreton Bay- came as a surprise to the industry.
At the time, the Property Council raised major concerns about the integrity of the system, and has continued to advocate the importance of valuing every local government area on an annual basis.
The Valuer-General has subsequently committed to focus on issuing maintenance valuations in 2018 to reflect errors in previous valuations/ issues relating to uniformity, with many of the updated valuations now being resent to CBD and Fringe property owners.
For further information about annual valuations and to access property market movement reports, click here.