Residential land values in Maitland have exceeded the statewide trend and risen significantly in 12 months, according to the latest data from the state government.
There has been a 32.9 per cent increase in Maitland, Cessnock, Dungog, Singleton, Muswellbrook and the Upper Hunter - compared with an overall statewide increase of 24.8 per cent.
The data, contained in NSW Valuer General Dr David Parker's latest report, shows the collective worth of the land in these areas has increased from $24.8 billion in 2020 to $32.3 billion in 2021.
In fact, the data shows an increase in rural land value as well as commercial and industrial land between July 1, 2020 and July 1, 2021.
Rural land had a 30.9 per cent rise, thanks to city dwellers looking for a country escape. Small properties in Pokolbin with accommodation, vineyards and wineries performed the strongest. Not far behind were properties in Pelton and Paxton that had room for a hobby farm.
The trend to call regional NSW home is responsible for the spike. Dr Parker said buyers wanted "greater affordability and preferred lifestyle options".
The new Maitland Hospital, Stockland Greenhills and access to Sydney, Newcastle and the broader Hunter Region were the main reasons buyers were flocking to Maitland, Dr Parker noted.
"This green change, tree change, sea change and ski change has been exacerbated by greater employer flexibility in work locations as a result of home working during COVID," Dr Parker said.
Commercial land in Maitland, Cessnock, Dungog, Singleton, Muswellbrook and the Upper Hunter followed closely behind the state average of 14.9 per cent, with 11.6 per cent growth.
Dr Parker said the demand for land zoned for business development in Maitland had helped to foster this growth, while Dungog's commercial land value remained steady and Cessnock's lost some ground due to a lack of buyers.
Meanwhile, Newcastle, Lake Macquarie, the Central Coast and Port Stephens followed closely behind Western Sydney with a 29.4 per cent spike.
When it comes to industrial land, Maitland, Cessnock, Dungog, Singleton, Muswellbrook and the Upper Hunter had a 12.2 per cent increase. The rise across the state was 22.2 per cent.
Very strong demand for industrial land in Dungog - after being idle for many years - fostered this growth along with Maitland's infrastructure and proximity to the Hunter Expressway.
Meanwhile, Sydney recorded more than twice that growth - mainly due to an increase in demand for this type of land and less availability.
The figures are based on the land's value at July 1, 2021 and reflect the increase in the 12 months prior to that date.
The values will be used to calculate the next round of Revenue NSW's land tax bills.
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