New land values for the City of Sydney
The NSW Valuer General has published land values for the City of Sydney region.
The NSW Valuer General has finalised land values for every parcel of land across New South Wales (NSW). The land values reflect the value of land only, as at 1 July 2025.
General overview
Land values across the City of Sydney have surged 3.5% to $143.6 billion according to new analysis from the NSW Valuer General.
The NSW Valuer General has finalised land values for every parcel of land across the state, reflecting the value of land only as of 1 July 2025.
The City of Sydney region has seen total land values increase from $138.8 billion at 1 July 2024 to $143.6 billion at 1 July 2025.
Property sales are the most important factor valuers consider when determining land values.
Sally Dale, Valuer General of NSW said: “Land values across the City of Sydney have seen a slight increase, however this trend varies across different market segments.”
Total land values for the City of Sydney
| Property type | 1 July 2024 land value | 1 July 2024 land value | Percentage change | Property count |
|---|---|---|---|---|
| Residential | $85,897,057,177 | $89,565,400,839 | 4.3% | 24,133 |
| Commercial | $47,622,212,343 | $48,520,983,595 | 1.9% | 3,176 |
| Industrial | $1,552,959,100 | $1,551,729,100 | -0.1% | 79 |
| Rural | N/A | N/A | N/A | N/A |
| Other | $3,728,513,867 | $3,958,995,616 | 6.2% | 734 |
| Total | $138,800,742,487 | $143,597,109,150 | 3.5% | 28,122 |
Residential land values
Residential land values in the City of Sydney increased by 4.3%.
“The residential value growth has been driven by strong demand in the inner suburbs,” Ms Dale said.
“Low density residential in both Moore Park and Rosebery have shown a strong increase this year as have the non-terraced areas of Potts Point and the surrounding bays, displaying the strength of the market in these areas which are well located and in close proximity to major transport hubs, the CBD, tertiary education institutions and other amenities.”
Commercial land values
Commercial land values also rose, with a slight increase of 1.9% overall.
“Commercial zoned land in the CBD has seen a slight increase in tenant demand but with a surge of new supply in early 2025 the vacancy rate continued to rise. This vacancy rate is still above the long-term average so that’s held back any greater value gains,” Ms Dale said.
“The CBD is still impacted by a surge of supply. Occupiers are still taking the opportunity to make the ‘flight to quality’, leaving older buildings waiting to be refreshed or repurposed.”
Industrial land values
Industrial land values in the City of Sydney have remained steady with no increase.
“Despite the limited supply of industrial properties within the City of Sydney the sales indicate a relatively steady market,” Ms Dale said.
“While the overall supply of industrial zoned property in South Sydney has declined, demand has stabilised. Key infrastructure improvements, such as the St Peters Interchange and the extension of the M4 motorway, have also contributed to enhancing connectivity and accessibility for businesses, meaning that they’re able to locate themselves further afield but still access the CBD readily.”
New land values for NSW
| Property type | 1 July 2024 land value | 1 July 2025 land value | Percentage change | Property count |
|---|---|---|---|---|
| Residential | $2,274,967,032,467 | $2,369,598,471,154 | 4.2% | 2,281,992 |
| Commercial | $169,098,924,135 | $175,171,575,235 | 3.6% | 62,090 |
| Industrial | $132,916,494,350 | $137,994,892,089 | 3.8% | 39,313 |
| Rural | $308,089,040,401 | $306,800,362,232 | -0.4% | 242,645 |
| Other | $103,055,875,581 | $104,839,645,819 | 1.7% | 95,660 |
| Total | $2,988,127,366,934 | $3,094,404,946,529 | 3.6% | 2,721,700 |
Overall, land values across NSW increased by 3.6%, from $2.98 trillion to $3.09 trillion. The new land values were assessed following analysis of more than 66,000 property sales.
The new land values will be used by Revenue NSW to calculate land tax for landowners who are liable. Registered land tax clients will receive their assessment notice from Revenue NSW starting January 2026 for the 2026 land tax year. For more information on land tax, thresholds and exemptions visit revenue.nsw.gov.au.
Local councils receive updated land values at least every 3 years and use them as one of a number of factors when setting rates. About two-thirds of councils will receive new values this year. If a council is receiving new values in 2025, residents will be sent a notice of valuation between November 2025 and April 2026. The Valuer General does not set council rates.
Landholders have 60 days from the issue date printed on their notice to object to their land valuation if they believe it is incorrect and can provide recent sales evidence to support their claim.
The latest land values for all properties in New South Wales, along with trends, medians and typical land values for each local government area, are available on the NSW Valuer General’s website.
For more information on land values and the NSW valuation system, visit Valuer General pages.