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Overview
The 2024 revaluation outcome summary provides land information and valuation trends. This is a summary of the annual 2024 revaluation by Valuer-General Victoria (VGV).
Victoria's 3.34 million rateable and leviable properties were valued at $3.23 trillion at 1 January 2024. This compares with $3.12 trillion in 2023.
Aggregate data illustrates the value of rateable and non-rateable leviable property across the state.
This information includes:
- annual comparison of the capital improved value
- number of assessable properties against land use type for metropolitan Melbourne and regional Victoria.
Download the 2024 outcome summary:
Revaluations have been carried out annually since 2019. Prior to 2019, revaluations were completed in each of Victoria's 79 municipalities every 2 years.
2024 revaluation land use summary
- 3.34 million properties
- $2.00 trillion site value
- $3.23 trillion capital improved value
- Residential capital improved value increased by 3.45%
- Commercial capital improved value increased by 0.99%
- Industrial capital improved value increased by 8.29%
- Rural capital improved value increased by 5%
Breakdown by land use
Residential
- 2.91 million properties
- $1.54 trillion site value
- $2.44 trillion capital improved value
Commercial
- 171,117 properties
- $122 billion site value
- $276 billion capital improved value
Industrial
- 95,400 properties
- $99 billion site value
- $167 billion capital improved value
Rural
- 163,000 properties
- $204 billion site value
- $248 billion capital improved value
Other statistics by VGV
VGV also produces annual and quarterly property sales statistics.
Page last updated: 29/08/24