New land values for New South Wales
Land values across New South Wales have reached a record $3.09 trillion, marking a 3.6% increase from $2.98 trillion in 2024.
General overview
The NSW Valuer General has finalised land values for every parcel of land across the state. Values are determined as of 1 July 2025 and reflect the value of land only.
Property sales are the most important factor valuers consider when determining land values. The new land values were assessed based on an analysis of more than 66,000 property sales.
Residential land values
Residential land values continue to drive the growth in value, with an average increase of just over 4.2%, compared to the 12 months to 1 July 2024.
Sally Dale, Valuer General of NSW said: “The annual land valuations show sustained demand across all residential markets in NSW. This trend shows no signs of easing over the immediate or near-term future.
“NSW’s combined land value has reached a record $3.09 trillion, underpinned by strong increases in residential, commercial and industrial markets. This is despite a minor contraction in rural land values predominately related to reduced demand for secondary rural lifestyle properties.
“We’re seeing really strong increases in western NSW residential markets for the second year running as more people move west. As an example, with a median house price in Hay being just shy of $250,000 as at July 2025. it's no surprise that land values there have increased 40% as people chase greater affordability,” Ms Dale said.
Above average growth was also seen in some coastal residential markets, including Byron and Newcastle, with increases of almost 14% and 7% respectively, underpinned by the popularity of these prestige coastal areas and strong demand from first home buyers for more affordable areas.
In metropolitan markets, there were strong increases in Fairfield, Lane Cove and Penrith, all moving by more than 10% as demand continues to outstrip supply.
Commercial and industrial land values
Commercial and industrial values have seen smaller increases at 3.6% and 3.8% respectively statewide.
“While commercial and industrial markets have continued to grow, there are a few strong movers in the western commercial (Singleton >20%; Cabonne >24%) and industrial markets (Bathurst >56%; Uralla >54%). In these areas, demand is being driven by relatively low land value entry points, support from infrastructure investment, and emerging employment markets in energy and critical/rare earths exploration and mining,” Ms Dale explained.
Rural land values
Rural land values decreased across the state by 0.4%.
“Interestingly, we’ve seen a minor contraction in rural markets when averaged statewide, with the overwhelming observed trend being driven by decreases in sale prices of secondary lifestyle locations, predominately across the north and south coast regions of NSW,” Ms Dale said.
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 |
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.