realestatebusiness logo
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

Land value skyrockets to $1.12 trillion

14 January 2015 Staff Reporter

The average value of NSW land increased by a staggering 11 per cent to $1.12 trillion in 2014, with one suburb overtaking wealthy Mosman to become the state's most expensive suburb.

Woollahra has become the suburb with the highest median residential land value of $1.4 million – a 13.8 per cent increase from 2013.

Mosman median land value stands at $1.39 million (a 7 per cent increase), followed by Waverley ($1.12 million), Hunters Hill ($1.09 million), Willoughby ($1.08 million) and Manly ($1.05 million).

Willoughby recorded the biggest median increase, with average land values up a whopping 37 per cent from $788,000 to $1.08 million in the past year.


Residential land in Bankstown shot up 29 per cent to a median price of $519,000 and land in Hornsby, the Hills Shire and Canterbury all recorded rises of 21 per cent or more.

Many of the rises have been linked to new infrastructure projects, including the North West Rail Link which is due for completion in 2019.

“In the last 12 months or so the NSW property market has kicked on pretty strongly,” said NSW valuer-general Simon Gilkes.

“Seeing places like the Hills Shire in the list, that is at least partly due to the development of the rail link which will make that area much more accessible.”

There were also big rises, for the first time in years in the value of coastal land — including a 9.6 per cent rise in Wyong, an 8.2 per cent rise in Shellharbour and an 8.1 per cent rise in Gosford.

Newcastle recorded the biggest rise in land values outside of Sydney, rocketing 10.3 per cent to $255,000.

Land value skyrockets to $1.12 trillion
lawyersweekly logo
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
Do you have an industry update?
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.