Bulloo Shire LGA valuation overview
Overview of 2024 land valuation
For the Bulloo Shire local government area (LGA), the revaluation included 262 properties, with a total value of $338,903,091, an overall increase of 238 per cent since the last valuation issued in 2021.
Property market changes within the Bulloo Shire LGA are being driven by the continued confidence within the cattle industry.
Total value by land use
| Land type | Value | Percentage of total land value |
|---|---|---|
| Commercial | $87,100 | 0% |
| Industrial | $243,400 | 0.1% |
| Primary Production | $331,952,000 | 97.9% |
| Single Unit Residential | $712,390 | 0.2% |
| Rural Residential | $62,400 | 0% |
| Other | $5,845,801 | 1.7% |
| LGA total | $338,903,091 | 100% |
Note: The sum of percentages may not equal 100% due to rounding.
Residential land
There has been a significant increase in median values within the residential market sectors of the Bulloo Shire LGA since the last valuation. The overall median value for residential land in the Bulloo Shire LGA is $6,400, an increase of 113.3 per cent.
The table below shows the changes in median value of residential land in the Bulloo Shire LGA. The table includes localities with a minimum of 50 properties as residential land use.
Locality | Previous median value (as at 1 October 2020) | New median value (as at 1 October 2023) | Change in median value | Number of properties |
|---|---|---|---|---|
| Thargomindah | $3,200 | $6,400 | 100% | 86 |
Explanatory notes
- Sales within the residential markets in the towns of Thargomindah and Hungerford have shown significant increases in value, although coming from a low base. Hungerford values increased generally from $2,000 to $5,000.
Rural residential land
The table below shows the changes in median value for rural residential land in the Bulloo Shire LGA.
| Previous median value (at 1 October 2020) | New median value (at 1 October 2023) | Change in median value | Number of properties |
|---|---|---|---|
| $4,500 | $9,000 | 100% | 3 |
Explanatory notes
- The limited rural residential property market within the Bulloo Shire LGA has been increased significantly in line with the sales from the residential market.
Other land uses
The table below shows the total value of land uses (other than residential and rural residential land) in the Bulloo Shire LGA.
| Land use category | Previous total land value (at 1 October 2020) | New total land value (at 1 October 2023) | Change in total land value | Number of properties |
|---|---|---|---|---|
| Commercial | $42,700 | $87,100 | 104% | 10 |
| Industrial | $121,600 | $243,400 | 100.2% | 19 |
| Primary Production | $94,292,500 | $331,952,000 | 252% | 32 |
| Other | $5,340,626 | $5,845,801 | 9.5% | 82 |
Explanatory notes
- Commercial land recorded a significant increase in line with the sales within the residential markets.
- Industrial land recorded a significant increase in line with the sales within the residential market.
- Cattle commodity prices reduced during 2023, after significant growth in 2019-2022. This corresponded with significant increase in rural land values during that period, as a result of continued low interest rates, good seasons and high commodity prices. With lower commodity prices and higher interest rates, sales within 2023 support the continued confidence.
- Other land recorded a minor increase with petroleum lease valuations valued in accordance with the Land Valuation Act 2010.
More information
To view the valuation roll display listing for the Bulloo Shire LGA, you can:
- see land valuations online
- visit the Bulloo Shire Council, 68 Dowling Street, Thargomindah during business hours until 30 June 2024.