The residential market within the town of Bowen has mostly experienced reductions in unimproved values of up to 20 per cent, however well positioned allotments with views or with close beachfront proximity have maintained their value. Reductions have also been experienced in the shire's western townships of Collinsville, Scottsville, and Mt Coolon, where residential valuation decreases of up to 55 per cent have been experienced. Mr Myers said that in contrast to other township trends, Herronvale and Gumlu had increased in value. The largest commercial and industrial precinct within the shire is located in the town of Bowen. Values of commercial and industrial land have generally remained unaltered since the levels established in 1998.
Values fall away from the central business core.
Mr Myers said the rural residential market had generally stabilised for the majority of parcels within the shire and values had largely remained unaltered from the 1998 levels. Variations to the existing levels have occurred in isolated instances, to better reflect market evidence. Values of the smaller agricultural enterprises up to 20 hectares in the Bowen locality have generally been increased by 10 percent. Valuations for larger agricultural units within the shire have remained unaltered. Mr Myers said that with the exception of several larger increases, the valuations in this sector had generally increased up to a maximum of 10 percent.