While residential land values remained stable in Tea Gardens during the latest valuation period, they fell by up to 13 per cent in Hawks Nest.

The NSW Valuer General, Philip Western, said that recent growth in residential land values in the Great Lakes local government area came to an end during the latest valuation period.

An example of stabilised prices in the southern end of the shire was a 612 square metre property in Coolabah Close at Tea Gardens which had a valuation of $212,000 at July 1, 2005, the same as the valuation a year previously. However, the value of the land was $89,000 more than the 2002 valuation.

A 562 square metre property in Patanga Street, Hawks Nest was valued at $400,000 in 2005, a drop of $25,000 on its valuation a year previously. The same property had a valuation of only $250,000 in 2002, representing an increase in value of $150,000 in the three years.

However, despite the general decrease in Hawks Nest, land values in the Great Lakes as a whole were still up on valuations issued during the last rating period in 2002, which reflected the strong property market from 2002 to 2004.

Mr Western said that in contrast to the Tea Gardens and Hawks Nest area, increased land values were recorded at Nabiac, Seal Rocks, Blueys Beach and Boomerang Beach.

In the rural areas, there were increases of up to 30 per cent, mainly because rural land values had lagged behind the residential sector.

Land valuation notices and a leaflet that explains the valuation process are being mailed to landowners in the Great Lakes shire. These valuations will be one of the factors that the council will use to determine property rates.

People with a query about their valuation can call the department's toll free number 1800 110 038.