Sunshine Coast land values down 5% last year, with Dicky Beach beating out Battery Hill as worst performer

By Alistair Walsh
Thursday, 17 May 2012

Land values in the Sunshine Coast area fell 4.6% over the last year, with 47 localities declining in value, according to the Queensland Valuer-General’s latest valuation. There were 77 localities that recorded no change and no localities where values increased.

Dicky Beach was the worst-performing locality in the area, with median values falling 20.6% from $365,000 in October 2010 to $290,000 in 2011, according to Valuer-General Neil Bray’s valuation.

He said prestige properties had performed particularly poorly.

“Prestige land values are under some pressure due to limited demand as a result of the current economic climate,” the report says.

Recent sales in Dicky Beach are indicative of the downward price pressure. The three-bedroom 98 Cooroora Street sold in March for $459,000 after last trading for $429,000 in 2007. And the two-bedroom 2 Henzell Street sold in December 2011 for $390,000. The vendors originally listed the house in August for $495,000 after an unsuccessful bid to sell the house for $660,000 in 2010.

Gray found some localities in Caloundra had small to moderate decreases in values, which were supported by falls in the market evidence in these localities.

He found residential land values in the coastal strip from Noosa to Mooloolaba generally had no change or small reductions from previous levels.

He says the small railway towns north of Nambour have generally not changed in value while Nambour and some railway towns to the south have reduced in value.

“In general vacant residential land sales transactions in the Sunshine Coast Regional Council area have fallen since the last valuation in 2011,” Bray says.

“Multi-unit land values have remained largely unchanged except for parts of Noosa, Mudjimba and along the Caloundra coastal strip where values have been reduced by around 10 to 15%.

“Industrial land values have remained largely unchanged across the Sunshine Coast except for small reductions of around 10% in parts of the Caloundra area, Nambour and Woombye due to a large supply of vacant land and available building stock.”

Bray says commercial values in Caloundra have generally reduced by about 10%.

“Values in Nambour, Palmwoods and Woombye have fallen by around 5 to 10% while the central area from Maroochydore to Mooloolaba has largely remained unchanged due to market based reductions made to levels of value in the previous 2011 valuation,” Bray says.

“Rural residential values have remained largely unchanged except for some central Sunshine Coast localities where values have fallen by around 10%.”

The land tax threshold in Queensland is $600,000 for individuals and $350,000 for companies and trustees.

The tax Queensland Office of State Revenue calculates tax using the total value of all land owned, with exemptions for properties used as a home or for farming.

Residential localities	Previous median value ($)	New median value($)	Change in median value (%)
Dicky Beach	365,000	290,000	-20.6
Battery Hill	285,000	227,500	-20.2
Golden Beach	310,000	255,000	-17.7
Highworth	167,500	150,000	-10.5
Ninderry	190,000	170,000	-10.5
Diddillibah	252,500	226 250	-10.4
Parrearra	265,000	237,500	-10.4
Image Flat	116,000	104,000	-10.3
Birtinya	220,000	197,500	-10.2
Bokarina	295,000	265,000	-10.2
Warana	295,000	265,000	-10.2
Wurtulla	295,000	265,000	-10.2
Yandina Creek	196 250	176 250	-10.2
Mooloolah Valley	172,500	155,000	-10.1
Aroona	225,000	202,500	-10
Currimundi	225,000	202,500	-10
Meridan Plains	200,000	180,000	-10
Beerburrum	157,500	142,000	-9.8
Kiels Mountain	205,000	185,000	-9.8
Shelly Beach	510,000	460,000	-9.8
Balmoral Ridge	310,000	280,000	-9.7
Caloundra West	180,000	162,500	-9.7
Minyama	620,000	560,000	-9.7
North Arm	113,000	102,000	-9.7
Caloundra	235,000	212,500	-9.6
Maroochy River	235,000	212,500	-9.6
Moffat Beach	365,000	330,000	-9.6
Pelican Waters	260,000	235,000	-9.6
Bli Bli	185,000	167,500	-9.5
Kings Beach	475,000	430,000	-9.5
Little Mountain	210,000	190,000	-9.5
Bald Knob	265,000	240,000	-9.4
Buddina	375,000	340,000	-9.3
Mudjimba	325,000	295,000	-9.2
Peregian Springs	208,750	190,000	-9
Nambour	147,000	137,000	-6.8
Marcoola	250,000	237,500	-5
Rosemount	152,500	145,000	-4.9
Burnside	145,000	138,000	-4.8
Coes Creek	150,000	143,000	-4.7
Parklands	130,000	124,000	-4.6
Montville	205,000	196 250	-4.3
Palmwoods	175,000	167,500	-4.3
Woombye	165,000	160,000	-3
Twin Waters	265,000	260,000	-1.9
Tinbeerwah	215,000	211,250	-1.7
Flaxton	165,000	162,500	-1.5
Alexandra Headland	377,500	377,500	0
Beerwah	152,500	152,500	0
Belli Park	175,000	175,000	0
Bells Creek	142,000	142,000	0
Black Mountain	124,000	124,000	0
Boreen Point	192,500	192,500	0
Bridges	107,500	107,500	0
Buderim	220,000	220,000	0
Cambroon	120,000	120,000	0
Castaways Beach	325,000	325,000	0
Chevallum	202,500	202,500	0
Conondale	86,000	86,000	0
Coochin Creek	172,500	172,500	0
Cooloolabin	180 750	180 750	0
Coolum Beach	240,000	240,000	0
Cooran	114,000	114,000	0
Cooroibah	165,000	165,000	0
Cooroy	175,000	175,000	0
Cootharaba	118,000	118,000	0
Diamond Valley	202,500	202,500	0
Doonan	247,500	247,500	0
Dulong	182,500	182,500	0
Eerwah Vale	172,500	172,500	0
Eudlo	155,000	155,000	0
Eumundi	177,500	177,500	0
Forest Glen	147,500	147,500	0
Glass House Mountains	175,000	175,000	0
Glenview	255,000	255,000	0
Hunchy	258 750	258 750	0
Ilkley	251 250	251 250	0
Kenilworth	102,000	102,000	0
Kiamba	127,000	127,000	0
Kidaman Creek	86,000	86,000	0
Kin Kin	66,500	66,500	0
Kulangoor	117,000	117,000	0
Kuluin	195,000	195,000	0
Kunda Park	330,000	330,000	0
Kureelpa	167,500	167,500	0
Lake Macdonald	217,500	217,500	0
Landers Shoot	165,000	165,000	0
Landsborough	150,000	150,000	0
Maleny	152,500	152,500	0
Mapleton	175,000	175,000	0
Marcus Beach	255,000	255,000	0
Maroochydore	250,000	250,000	0
Mons	275,000	275,000	0
Mooloolaba	320,000	320,000	0
Mount Coolum	200,000	200,000	0
Mount Mellum	282,500	282,500	0
Mountain Creek	197,500	197,500	0
Noosa Heads	340,000	340,000	0
Noosa North Shore	342,500	342,500	0
Noosaville	295,000	295,000	0
North Maleny	285,000	285,000	0
Pacific Paradise	162,500	162,500	0
Palmview	250,000	250,000	0
Peachester	190,000	190,000	0
Peregian Beach	285,000	285,000	0
Perwillowen	192,500	192,500	0
Pinbarren	84,000	84,000	0
Point Arkwright	320,000	320,000	0
Pomona	150,000	150,000	0
Reesville	250,000	250,000	0
Ringtail Creek	110,000	110,000	0
Sippy Downs	177,500	177,500	0
Sunrise Beach	270,000	270,000	0
Sunshine Beach	450,000	450,000	0
Tanawha	325,000	325,000	0
Tewantin	175,000	175,000	0
Valdora	192,500	192,500	0
Verrierdale	332,500	332,500	0
West Woombye	150,000	150,000	0
Weyba Downs	227,500	227,500	0
Witta	197,500	197,500	0
Wootha	380,000	380,000	0
Yandina	144,000	144,000	0
Yaroomba	242,500	242,500	0
All residential localities	220,000	210,000	-4.6