How the flood affected Lismore commercial values
COMMERCIAL land values showed a slight increase of 4.43 per cent compared with higher demand in adjoining coastal areas.
The market is still recovering from the March 2017 flood with many businesses not recommencing operations until late in 2017.
Many businesses suffered major damage and loss of stock and trade, resulting in very limited sales.
There are just over 700 commercial properties in the Lismore, with the majority being in the Lismore/Goonellabah areas.
There were 20 reliable sales which occurred between July 1, 2017 and September 2018. These sales resulted in slight increases across all commercial zones.
Typical commercial land values
- Wyrallah Rd, East Lismore (1771sqm): $160,000, up 5.3 per cent
- Brewster St, Lismore (537.5 sqm): $134,000, up 3.1 per cent
- Magellan St, Lismore (442.6 sqm): $175,000, up 2.9 per cent
- Woodlark St, Lismore (202.3 sqm): $175,000, up 2.9 per cent
- Woodlark St, Lismore (1.875 ha): $1.3 million, up 5.7 per cent
- Union St, South Lismore (607.03 sqm): $90,000, up 5.4 per cent
- Union St, South Lismore (1381 sqm): $185,000, up 3.9 per cent