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Unimproved Land Values in Canberra. How does your suburb compare?

What is the “UV”?

The Unimproved Value (UV) of a property is the value of a block of land before any improvements are made to it. In other words, it’s the amount the land is worth before any buildings, fences, driveways or anything else is added to it. 

How is the UV determined?

Locally the UV is determined by the ACT Revenue Office and each year, the figure is reviewed and adjusted for any capital growth. This review process takes into account recent sales of similar properties in nearby areas. 

The UV reflects the size of the land, its location, the aspect of the block and anything else that affects its value.

Whilst UVs are influenced by historical sale prices, they also influence future ones. This is why you can see UVs of properties in established areas increase after land in a nearby area is released and sold. Hotly contended Mr Fluffy blocks can have the same effect because these sale prices can influence the next adjustment of UVs in nearby areas.

Why is the UV so important?

When you purchase a property, you’re paying for the land as well as the house on the land. This means the higher the UV, the higher the likely purchase price. The UV almost provides a starting point to work upwards from. The gap between the purchase price of the property and the UV of the land, increases as the perceived value of the home increases. 

The rates and land tax you’re charged as a property owner in Canberra is also based on the UV amount.

How do UVs compare across regions of Canberra?

If you’ve lived in Canberra for a while or you’ve been studying Canberra house prices recently, you probably already know which suburbs tend to attract the highest prices. But we wanted to look at things a bit closer than that.

  • How does the $UV per square metre vary between suburbs?
  • How has the 2017/18 UV per square metre changed from 2016/17?
  • Do some suburbs represent better value than others, in terms of $UV per square metre? 
  • How does the $UV per square metre vary between regions of Canberra? How does Belconnen compare to Woden, for instance?

Our methodology

We analysed 916 individual property sales from allhomes.com.au, roughly equating to the ten most recent property sales in each Canberra suburb. We noted the 2016/17 UV, 2017/18 UV, block size and recorded sale price for each property.

From this data set, we calculated the $UV per square metre for each property; the median $UV per square metre for each suburb; and the median $UV per square metre for each region.

The results presented below exclude sales of units and townhouses, as well as suburbs where the majority of properties were of this nature. Also excluded were new suburbs with insufficient sales data for 2017.

Here’s what we discovered.


Inner South topped the list with the highest priced UV at $1,042 per square metre, 1.3 times the median $UV per square metre of properties we looked at in the Inner North.

From 121 Gungahlin property sales we analysed, a median UV of $591 per square metre was determined. Woden reported a median $UV per square metre of $563.

2017/18 UV figures moved Belconnen up a spot in the rankings from last year, and Weston Creek reported the second lowest median $UV per square metre of land in Canberra.

To property-obsessed-people like ourselves, we find this interesting. But it starts to gets REALLY interesting when you compare the median $UV square metre across suburbs in the same region.

The following shows the median $UV per square metre for suburbs in the Inner South.

Whilst these suburbs are close to each other, there’s quite a difference between the Unimproved Value of one square metre of land in Griffith say, compared to Kingston.

Admittedly we’re looking here at the most prestigious suburb in Canberra and Kingston has some advantages due to proximity to the water and dining venues etc.

However, when we compared suburbs within Inner North, Belconnen, Gungahlin, Woden, Weston Creek and Tuggeranong, we found differences in the $UV per square metre of suburbs right next to each other. This may just prompt you to expand your house hunting area a little more and look at suburbs you have previously disregarded.

We’ve created 2017/18 UV maps similar to the one above, for each of the following Canberra regions:

  • Inner North
  • Belconnen
  • Gungahlin
  • Woden
  • Weston Creek
  • Tuggeranong

We’ve also compared the median $UV in each suburb from 2016/17 and 2017/18 to identify suburbs with stronger growth in land value than others.

It’s all available in our Report, “Canberra Land – Unimproved Values (UV) Analysis 2017/18.

Whether you’re looking for targeted information to help with your property search, or keen to know the median $UV per square metre for your suburb, our Canberra Land – Unimproved Values (UV) Analysis 2017/18 Report can help.

Click on this link to access a Full copy of the report.



Please note the data set was limited and could be expanded to include an increased number of properties. Data was obtained from allhomes.com.au over a period of time between 1 September 2017 and 30 October 2017.

Whilst all care has been taken to ensure figures presented here are recorded and collated from reliable sources, MO’R Mortgage Options Pty Ltd provides no assurance of their completeness or accuracy. This information does not provide individual property assessments and should not be relied upon. As such, MO’R Mortgage Options accepts no responsibility for any reliance placed on commentary or information provided.

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