Hay has officially recorded the strongest growth in residential land values across regional NSW.

According to the latest land values released by the Valuer General of NSW last week, residential land values in Hay have increased by 40.3 per cent.

This is well above regional NSW medians and the statewide average of 4.2 per cent. “We’re seeing really strong increases in western NSW residential markets for the second year running, with the suspected trend of people moving west continuing,” Valuer General of NSW, Sally Dale said.

“With a median house price in Hay as examples being just shy of $250,000 at July 1, it's no surprise that land values have moved up to 40 per cent as people chase greater affordability - including hobby farms.”

The figures reveal zero activity on commercial and industrial land sales, and a slight decrease of 0.3 per cent in rural land values. Rural land values across the region experienced a slight decrease of 0.8 per cent, apart from Edward River Council where farming land increased by 2.7 per cent in value. Edward River Council (Deniliquin and surrounding small villages) had a two per cent increase in residential value, close to three per cent in commercial and one per cent in industrial land values.

Land values in Balranald Shire increased by 7.4 per cent for residential with no changes to rural, commercial and industrial land values. Carrathool Shire residential land increased in value by 6.1 per cent and rural land by 2.9 per cent.

Commercial land values decreased by 2.2 per cent.

Central Darling Shire enjoyed a modest increase of 0.3 percent for residential land and 0.2 per cent rural land. Murray River Shire land values for commercial increased by 2.2 per cent, industrial land 2 per cent and decreased 0.1 per cent for residential land and 2.8 per cent rural land. Residential land in Griffith increased by 7.7 per cent in value while rural land decreased by 2.2 per cent. Broken Hill retained its status quo with only 0.1 increase in residential land value and no further changes.

The new land values will be used by Revenue NSW to calculate land tax for landowners who are liable.

Registered land tax clients will receive their assessment notice from Revenue NSW starting January 2026 for the 2026 land tax year. For more information on land tax, thresholds and exemptions visit revenue. nsw.gov.au. Local councils receive updated land values at least every 3 years and use them as one of a number of factors when setting rates. The Valuer General does not set council rates. Landholders have 60 days from the issue date printed on their notice to object to their land valuation if they believe it is incorrect and can provide recent sales evidence to support their claim.

The latest land values for all properties in New South Wales, along with trends, medians and typical land values for each local government area, are available on the NSW Valuer General’s website. For more information on land values and the NSW valuation system, visit www.nsw.gov.au/valuergeneral.

Ms Dale said land values across regional NSW have reached a record $342 billion, marking a 0.7 per cent increase from $340 billion in 2024. “Property sales are the most important factor valuers consider when determining land values,” Ms Dale added. “The new land values were assessed based on an analysis of more than 21,000 property sales.”