For Immediate Release 20 February 2024
Authorised by Councillor John Piper
WE’RE DOING SOMETHING RIGHT
I recently read an article from a government agency stating that in terms of real estate growth such as residential, commercial, industrial, and rural properties, the Hilltops Local Government Area (LGA) ranked as the second fastest-growing area. This comparison was made against several other LGA’s, namely Coonamble, Dubbo Regional, Forbes, Gilgandra, Lachlan, Narromine, Parkes, Warren, Warrumbungle, and Weddin.
In regional areas, residential land values had increased by 12.5% overall, but Hilltops had increased by 22.5% thereby showing we have a great demand in the Hilltops area for residential land. This can be partly attributed to Hilltops being reasonably close to both Canberra and Sydney where prices are exceptionally higher.
Commercial land value increased only slightly at 8.2% but again Hilltops was the leader in increases at 24.8%. The next highest was Dubbo at 9.7%, way below Hilltops. The demand for industrial land was strong with an overall increase of 21.3% but here Forbes outdid us at 34.8%, we were next at 27.7%.
Rural land values experienced a strong increase as well, 15.7% overall. The strongest increase in Hilltops at 26.1%.
Boorowa did its bit to help the percentage in residential land value by having over more than 120 lots at Donohoe’s Estate come online last year and already 18 lots have been sold.
These figures just go to show how the Hilltops region can achieve above average figures as long as we keep pulling together and not apart. Go Hilltops!!
Councillor John Piper