Land values continue to grow across Narrabri Shire

Land values across the residential, commercial, industrial and rural sectors are on the rise again in Narrabri Shire, the latest report from the Valuer-General’s office shows.

The new figures, published earlier this week, show industrial land had the greatest increase at 10.9 per cent.

This was followed by rural land values increasing 7.2 per cent, residential at 5.9 per cent and commercial at 3 per cent. Land for community use and mining, however, saw its values decline. Total land value in Narrabri Shire is now almost $6.4 billion.

“Industrial land values experienced an overall strong increase across Narrabri local government area between 2024 and 2025 with ongoing demand driven by the strong local economy underpinned by mining and gas industries which the industrial sector support,” the Valuer-General’s information read.

“Residential land values across the Narrabri local government area experienced a moderate increase overall between July 2024 and July 2025.

“This increase reflects the strong fundamentals of the economy supported by the local mining and gas industries. There has been increased demand for more affordable residential sectors, both from owner occupiers and investors, with these areas showing the strongest increases. The better regarded higher value residential areas remained steady.

“Reduced demand for residential village land across Narrabri local government area, has resulted in values remaining steady at Bellata, Edgeroi and Pilliga villages over the period. Boggabri residential land values decreased slightly as recent economic uncertainty reduced investor interest.”

Baan Baa observed a very strong values increase driven by the affordability of the location and its accessibility to mining sites, particularly Maules Creek, the report read.

“Rural residential land values remained steady across the preferred Riverbend and Rocky Creek Estates, while high construction costs dampened appetite and saw values decrease slightly for the balance of rural residential across the local government area,” the report read.

“Commercial land values experienced a slight increase overall across the Narrabri local government area between July 2024 and July 2025.

“This growth was primarily driven by a strong uplift in Wee Waa town centre, a relatively small commercial market traditionally subject to limited demand. Despite strong increases in recent years, Wee Waa remains affordable compared to the broader district which continues to underpin demand for the town.

“Residential accommodation is a permitted use within the local centre zoning, which means the commercial sector generally mirrors trends in the residential property market.

“Rural land values experienced a moderate increase overall across Narrabri local government area between July 2024 and July 2025.

“Broadacre rural land values largely stabilised, with mixed farming land to the south-east of Narrabri and prime cropping land to the north-west of Narrabri remaining steady. More marginal agricultural land in the Pilliga area, typically more affordable and mainly used for livestock production, experienced strong value increases in the period, underpinned by good livestock commodity prices.

“Rural residential homesites near Wee Waa recorded a moderate overall decrease, after repeated flood events in recent years in the locality impacted buyer confidence. Across the broader local government area rural homesites remained stable after earlier bullish conditions, with supply meeting demand.

“Overall, the rural sector recorded a strong uplift, despite tighter lending conditions and recent economic uncertainty. Sales volumes across the Narrabri rural lifestyle sector were on a par with the previous 12 months, driven by sustained demand for out-of-town living, limited hobby farm-sized properties, and an economy supported by local mining and gas industries.”

Land values across regional NSW have now reached a total of $342 billion.

Property sales are the most important factor valuers consider when determining land values. The new land values were assessed based on an analysis of more than 21,000 property sales.

Sally Dale, Valuer-General of NSW, said regional NSW has experienced a slight increase in land values but overall has not kept pace with whole-of-state movements which saw NSW experience an overall average 3.6 per cent increase across all land categories to reach a record $3.09 trillion.