LAND values in Wagga have shown strong growth over the last three years with prices soaring by 11 per cent.
Property holders in Wagga would have received their notice of valuation last month following the release of the NSW Valuer General's latest report, which states the city's residential totals climb to about $3.25 billion.
Residents of Springvale and Central Wagga had some of the strongest land value growth with a boost of 36 and 21 per cent respectively between 2016 and 2019.
Wagga independent valuer Chris Egan said the growth for Central Wagga was undeniable due to the consistently high demand for property in the suburb given its close proximity to everyday services.
"Demand for land in Central Wagga is hot and new, big luxury units are selling very well," he said.
"There is not much land in Central Wagga, but builders are actively seeking them and those blocks always sell really well," he said.
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On the outskirts of the city, Mr Egan said Springvale offered a completely different style of living with large, luxury lifestyle blocks that people "fall in love with".
"If there is a lack of supply with a lot positive features it will obtain a premium price," he said.
Large spikes were recorded in the suburbs of Gregadoo, Moorong and Cartwrights Hill, which soared by 50, 32 and 31 per cent respectively.
Mr Egan said these numbers could be quite misleading as land is rare to come by in these suburbs. When properties go on sale and sell at a high price point, he said values rise.
While the suburb of Moorong had land values climb by 32 per cent, Mr Egan said there is only six houses in the area.
He said a property is only put up for sale every decade, which was the case last year when a house sold for about $1.9 million.
Despite Wagga recording strong growth throughout the city, the suburb of Ashmont showed land values plummet by 12 per cent.
Mr Egan said it was uncommon for suburbs in regional areas to show such a strong decline in land values like the drop recorded in Ashmont.
Although there are "some wonderful areas" this suburb, he said the crime and anti-social behaviour in other areas turn people off from investing their life savings in the area.
"In some areas the housing commission homes have been done up and residents do get a bit of street pride and look after the neighbourhood," he said.
"But at the same time in other parts of the suburb we get those car fires, house fires and other socially unacceptable behaviour."
An accountant for Wagga council stated in a report to council that the latest land values will be used to calculate the annual rates.
He said it was important to note that the property holder's annual rates will not increase by the same percentage rise of their valuation.
"Ratepayers whose land values have increased significantly over the respective rating category average land movement will experience an increase in rates greater than the average rate increase," he stated in the report.
"Conversely ratepayers whose land values have not increased to the same level or greater than the average movement for their respective rate category will experience a reduction in rates."