THE median value of rural land in Orange experienced one of the largest increases of any local government area across the state in the past 12 months.
Land valuation notices will be mailed to approximately 795,000 ratepayers in 45 local government areas including Orange over the next month, NSW valuer-general Philip Western says.
The new land valuations will used by the council to review its rates model.
The median land value of rural land in Orange, including lifestyle properties and hobby farms, has jumped by 8 per cent in the 12 months up to July 1 last year from $163,000 to $176,000.
Orange bucked the state trends where the total rural land value droped by 1.65 per cent.
Of the 45 councils reviewed by the valuer-general, only the Murray area experienced a larger increase in the median rural land value of 8.6 per cent to $164,000.
Mr Western said the total value of Orange’s 263 rural properties - including rural-residential - had increased by 9.51 per cent in comparison to Bathurst where the values only increased by 0.45 per cent.
But Bathurst’s median rural land values remained higher increasing to $205,000 from $202,000, 12 months ago.
The land value of rural properties closer to town showed a moderate increase but the values of properties in the south west remained steady.
Clifton Grove was one of the few rural residential areas were land values decreased.
McCormack Barber’s Peter McCormack was surprised Clifton Grove values were down.
He said demand for rural land remained high and there were very few five to 10 acre blocks available.
“Especially within 15 minutes from town,” he said.
“There is strong demand driven by lack of available lifestyle land on the outskirts.”
Village land values have generally remained stable, Mr Western said, with minimal demand for housing in Lucknow and Spring Hill.
Mr McCormack said he was not surprised land values for Orange’s villages remained similar but said interest in Millthorpe remained strong.
clare.colley@fairfaxmedia.com.au