Good news for Hunter homeowners, with land values increasing across most of the region.
The state’s Valuer General released data yesterday, showing the price of residential land in Newcastle is up 13.2 per cent.
Renewed interest in mixed use sites allowing high rise residential development has seen commercial land values in Newcastle rise 14.3 per cent, while Lake Macquarie has also benefited.
However, land value around the Hunter coalfields has decreased due to the mining downturn.
The figures will be used to help calculate council rates and the Emergency Services Property Levy.
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