NSW land values soar to a record $1.8 trillion

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New data from the NSW Valuer-General shows that land values across NSW has risen to a record $1.8 trillion.

The increase was fueled by regional NSW, where demand is red hot in the wake of COVID-19 shutdowns and the ‘work-from-home’ phenomenon. By contrast, some land values in Sydney’s CBD fell sharply over the year as demand evaporated:

More than 48,000 sales were analysed as part of the report, which includes an assessment of every parcel of land in the state…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.