Foreign land ownership in Queensland report
Published Saturday, 14 October, 2006 at 07:00 AM
Minister for Natural Resources and Water
The Honourable Kerry Shine
Foreign interests paid more than $900 Million for land acquisitions in Queensland last financial year (2005-06), but total foreign ownership remained below 1% of the State’s land area.
Minister for Natural Resources and Water Kerry Shine said today foreign interests from 126 countries own a total of 1.23 million hectares of land in 21,887 land parcels.
“The area owned by foreign interests increased by 186,900 hectares over 2005-06, but these interest account for 0.7% of State’s land area,” Mr Shine said.
“A decade ago (1995-96), more than 4 million hectares or 2.3% of the State was foreign-owned.”
“The decline in foreign ownership has coincided with Australians literally ‘buying back the farm’. Established Australian-owned farming interests have expanded.”
Mr Shine said the land acquisitions worth $933 million last financial year meant total foreign land ownership in Queensland was almost back to 2003-04 levels of 1.24 million hectares.
“Over the last three financial years, foreign land ownership acquisitions have been in excess of $2.2 billion,” Mr Shine said.
“This reflects the overall strength of Queensland's property market in recent years.”
The Registrar’s annual report was tabled in State Parliament today. Under the Foreign Ownership of Land Register Act 1988, all foreigners are required to notify the Registrar of Titles of any acquisition or disposal of land or an interest in land.
In the report, nationalities across the world have been ranked according to the total annual value of acquisitions, total land area owned and the number of individual parcels held.
The United Kingdom accounts for almost half (516,828 hectares) of the total foreign-owned land on 5288 land parcels. Land purchases by UK interests in 2005-06 were highest, valued at $224.8 million.
The six highest-ranking nationalities in the three categories are:
Value of Acquisitions (2005-06) – total $933.3 million
1.United Kingdom $224.8 million
2. United States of America $176 million
3. New Zealand $121.9 million
4. Japan $60.8 million
5. Singapore $47.4 million
6. China $25.9 million
Land Area (as at 30 June 2006) – total 1,233,656 hecatres
1. United Kingdom 516,828 hectares
2. Japan 201,976 hectares
3. Germany (Federal Republic of) 111,946 hectares
4. Canada 96,585 hectares
5. USA 73,548 hectares
6. Switzerland 41,466 hectares
Number of Land Parcels (as at 30 June 2005) – total 21,887 parcels
1. United Kingdom 5288 parcels
2. Japan 2632 parcels
3. New Zealand 2602 parcels
4. USA 2058 parcels
5. Singapore 1387 parcels
6. Germany (Federal Republic of) 1055 parcels
In regional terms, the current status of land held by foreign interests include:
Brisbane: $321.2 million in foreign acquisitions in 2005-06 brings the total to 2732 parcels comprising 1793 hectares.
Gold Coast: $312.6 million in foreign acquisitions in 2005-06 brings the total to 5756 parcels comprising 5606 hectares.
Sunshine Coast (comprises Maroochy/Caloundra/Noosa shires): $77.5 million in foreign acquisitions in 2005-06 brings the total to 1525 parcels comprising 3709 hectares.
Cairns: $24.8 million in foreign acquisitions in 2005-06 brings the total to 788 parcels comprising 1731 hectares.
Ipswich City: $11.2 million in foreign acquisitions in 2005-06 brings the total to 279 parcels comprising 1968 hectares.
Pine Rivers: $8.6 million in foreign acquisitions in 2005-06 brings the total to 198 parcels comprising 92 hectares.
Townsville (comprises Townsville & Thuringowa): $7.6 million in foreign acquisitions in 2005-06 brings the total to 268 parcels comprising 1580 hectares.
Caboolture: $6.3 million in foreign acquisitions in 2005-06 brings the total to 211 parcels comprising 569 hectares.
Logan City: $5.5 million in foreign acquisitions in 2005-06 brings the total to 315 parcels comprising 186 hectares.
Redcliffe City: $5.1 million in foreign acquisitions in 2005-06 brings the total to 67 parcels comprising 7.2 hectares.
Toowoomba: $2.4 million in foreign acquisitions in 2005-06 brings the total to 138 parcels comprising 69 hectares.
Information recorded in the Foreign Ownership of Land Register can be accessed through Department of Natural Resources and Water service centres.
Media contact: Kirby Anderson 0418 197 350