CAPITAL land values in South Australia are showing no signs of slowing, with a report released yesterday showing the third consecutive year of significant growth.
The Office of the Valuer General released it's annual review, which gave a summary of metro and regional land value movements across a variety of use types.
Across the state, the capital value of rural land increased a whopping 19.3 per cent in 2021, following rises of 13.8pc in 2020 and 8.1pc in 2019.
Other land types also had significant increases, with residential up 24pc, vacant land 17.4pc, rural living 13.8pc, industrial 10.6pc and commercial 8.5pc.
Valuer-General of South Australia Katherine Bartolo said SA's agricultural sector had been performing solidly for years, "despite environmental impacts".
"Whilst 2021 maintained positive price movement, significant activity in previous years has seen a slow in the level of growth being achieved," she said.
"However, as that was from a very high level, the uplift in prices per hectare being achieved remain strong.
"As a good deal of land consolidation has previously occurred, there remains very good demand which is driving this growth.
"It is not consistent across the State however, as environmental impacts influence modest growth only in some areas."
The report also outlined the top three rural sales in SA during 2021, a $22 million purchase at Frances, a $19m buy at Monash, and a $12.1m purchase at Keith.
A dozen local government areas had capital land values increases in excess of 20pc, with Southern Mallee (26.2pc) and Robe (25.9pc) leading the way.
Coorong, Kimba, Wudinna, Kingston, Victor Harbor, Wattle Range, Adelaide Hills, Kangaroo Island, Alexandrina, Goyder all had rural land value growth of more than 20pc.
Coober Pedy (-0.38pc) and Roxby Downs (-0.02pc) were the only LGAs to have decreases in capital land values, with Franklin Harbor (3.2pc), Whyalla (4.6pc) and Port Augusta (4.9pc) among the more modest year-on-year increases by LGA.
Find the full list of average capital land value movements by LGA below.
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