Thirteen Brisbane suburbs recorded a median land value increase of $75,000 or more, according to the annual land valuations.
Dr Wilson said the inner Brisbane market was the strongest with solid annual growth of about 5-6 per cent, but that still does not explain the valuer general’s figures.
“The auction clearance rate is so-so, auction volumes haven’t changed much on last year’s, and the market is going quite reasonably but 10 per cent is quite an increase,” he said.
“It’s a big number.”
Mr Bray said registered valuers “thoroughly analyse” movement in the local property market to come up with valuations.
“Land values can be influenced by a number of factors including proximity to major shopping centres or transport orientated hubs; being in a prestige location or otherwise sought after area; infrastructure projects and builder activity,” he said.
“An individual valuation is based on the how it compares with available sales evidence.
“Only the land is valued and valuations do not include structural improvements on the land such as houses, buildings and fences.”
But even with solid data collection, Mr Pressley said numbers can become more unreliable when it taken down to suburb level.
“The number of sales within that gets so small, you can end up with large fluctuations,” he said.
“We just need to take that with a grain of salt.”
Mr Bray said landowners who think their valuation is incorrect and can provide information to support that claim can lodge their objection on the Land Valuations website..