The NSW Valuer General has just released its residential, industrial and rural land values and some significant increases were recorded.

The total land value for the South Coast NSW region increased by 30 percent between July 1 2020 and July 1 2010 from $118.7 billion to $154.3 billion.

Strong increases for residential land were seen in Shoalhaven (49.2 percent) and Eurobodalla (30.4 percent).

See breakdown of the South Coast land values in each of the three categories below.

The NSW Valuer General, Dr David Parker, published the land values for the South Coast NSW region.

The land values reflect the value of land only, as at July 1 2021.

Dr Parker said land values across the South Coast NSW region had experienced a very strong increase since July 1 2020.

He said property sales are the most important factor valuers consider when determining land values.

"Land value is the value of the land only and does not include the value of a home or other structures," Dr Parker said.

"Private contract valuers with expertise in their local areas have prepared the July 1 2021 land values on behalf of the Valuer General, to determine new land values across the region.

"The valuers consider a range of factors in determining land value, including the features of the land and its legally permitted use.

"Valuer General NSW has quality assured the land values for fairness and consistency."

Residential land values saw very strong increases of 30.3 percent overall, with variations across each local government area.

Strong increases were seen in Eurobodalla (30.4 percent), Shoalhaven (49.2 percent), Kiama (53.5percent) and Bega Valley (29.3percent). Strong increases were experienced in Wollondilly (18.2 percent), Wingecarribee (21.7 percent), Wollongong (24.5 percent) and Shellharbour (20.2 percent).

Purchasers driving the demand in this sector are transitioning from the larger population centres of Melbourne, Canberra and to a lesser extent Sydney, relocating for a lifestyle change.

Commercial land values increased by 22 percent, with very strong increases experienced in Kiama (29.8 percent), Shellharbour (38.4 percent) and Eurobodalla (39.7percent). Strong to moderate increases were seen in Shoalhaven (22.5 percent), Wollongong (24.6 percent), Wingecarribee (6.2 percent) and Wollondilly, with Bega Valley remaining relatively steady.

The demand from owner occupiers and investors is contributing to the tightening supply within the commercial market sector and has underpinned the land value increases.

Industrial land values in the region increased strongly by 15.8 percent overall.

There have been relatively inconsistent patterns of value movement throughout the various industrial areas across the South Coast region.

Eurobodalla and Wingecarribee had very strong increases of 42.9 percent and 30.2 percent respectively.

Strong increases were seen in Shoalhaven (22.1 percent), Wollondilly (11.6 percent) and Wollongong (12.6 percent). Shellharbour (6.9 percent) and Bega Valley (5.6 percent) saw moderate increases, while Kiama experienced a slight increase of 2.3 percent with a relatively limited supply underpinning value increases in most industrial precincts.

Overall, rural land values in the region saw very strong increases of 35.2 percent, which was consistent across most local government areas including Eurobodalla (34.1 percent), Shoalhaven (47.9 percent), Wollondilly (28.4 percent), Wingecarribee (30.2 percent) and Kiama (47.9 percent).

Strong increases were seen in Shellharbour (13.6percent), Wollongong (20.3percent) and Bega Valley (24.1 percent).

The increases in the rural market are underpinned by high demand with limited supply, with properties being tightly held.

Demand is due to a flow-on effect from the active residential market and high demand for rural lifestyle and rural holdings from purchasers seeking properties within commutable distances to larger population centres.

Meanwhile, Revenue NSW will use the July 1 2021 land values to calculate land tax for the 2022 land tax year.

Registered land tax clients will receive a land tax assessment from Revenue NSW from late January 2022.

For more information on land tax at https://www.revenue.nsw.gov.au/