Longreach Regional LGA valuation overview
Overview of 2024 land valuation
For Longreach Region local government area (LGA), the revaluation included 1,989 properties, with a total value of $877,835,450, an overall increase of 137 per cent since the last valuation issued in 2021.
Property market changes within Longreach Regional LGA are being driven by the continued confidence in the cattle and tourism industries.
Total value by land use
| Land type | Value | Percentage of total land value |
|---|---|---|
| Commercial | $22,647,200 | 2.6% |
| Industrial | $5,677,700 | 0.6% |
| Primary Production | $786,760,500 | 89.6% |
| Single Unit Residential | $55,665,300 | 6.3% |
| Multi-Unit Residential | $1,697,000 | 0.2% |
| Rural Residential | $3,720,100 | 0.4% |
| Other | $1,667,650 | 0.2% |
| LGA total | $877,835,450 | 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 some residential market sectors of Longreach Regional LGA since the last valuation. The overall median value for residential land in Longreach Regional LGA is $40,500, an increase of 50 per cent.
The table below shows the changes in median value of residential land in Longreach Regional 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 |
|---|---|---|---|---|
| Ilfracombe | $16,600 | $16,600 | 0% | 109 |
| Isisford | $8,800 | $19,400 | 120.5% | 75 |
| Longreach | $27,000 | $40,500 | 50% | 1,264 |
Explanatory notes
- Sales within the towns of Longreach and Isisford since the last revaluation have shown significant increases, while Ilfracombe has remained steady.
- The increase in Longreach is a result of the continued confidence in the cattle and tourism industries.
Rural residential land
The table below shows the changes in median value for rural residential land in Longreach Regional LGA.
| Previous median value (at 1 October 2020) | New median value (at 1 October 2023) | Change in median value | Number of properties |
|---|---|---|---|
| $40,500 | $65,500 | 61.7% | 48 |
Explanatory notes
- The rural residential market generally located around Longreach has increased significantly due to continued confidence within the cattle and tourism industries.
Other land uses
The table below shows the total value of land uses (other than residential and rural residential land) in Longreach Regional 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 | $11,626,000 | $22,647,200 | 94.8% | 115 |
| Industrial | $3,728,400 | $5,677,700 | 52.3% | 81 |
| Primary Production | $313,152,200 | $786,760,500 | 151.2% | 234 |
| Multi-Unit Residential | $848,000 | $1,697,000 | 100.1% | 7 |
| Other | $913,490 | $1,667,650 | 82.6% | 36 |
Explanatory notes
- Commercial and industrial lands, with the majority being at Longreach, have increased significantly based on sales due to continued confidence within the cattle and tourism industries.
- Cattle commodity prices reduced during 2023, after significant growth in 2019–22. This corresponded with significant increase in rural land values during that period, because 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 in the rural sector.
- Multi-unit residential land recorded a significant increase due to continued confidence within the cattle and tourism industries.
- Other land recorded a significant increase due to state-owned land having been reviewed to show significant increases within urban areas.
More information
To view the valuation roll display listing for Longreach Regional LGA, you can:
- see land valuations online
- visit the Department of Resources, Landsborough Highway, Longreach during business hours until 30 June 2024.