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The 2023 revaluation outcomes summary provides land information and valuation trends. This is a summary of the annual 2023 revaluation by Valuer-General Victoria (VGV).
Victoria's 3.33 million rateable and leviable properties were valued at $3.12 trillion at 1 January 2023. This compares with $2.99 trillion in 2022.
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
- and number of assessable properties against land use type for metropolitan Melbourne and regional Victoria.
Download the 2023 outcome summary:
Revaluations have been carried out annually since 2019. Prior to 2019 revaluations were completed in each of Victoria's 79 municipalities every two years.
2023 revaluation land use summary
- 3.33 million properties
- $2.00 trillion Site Value
- $3.12 trillion Capital Improved Value
- Residential Capital Improved Value increased by 0.4%
- Commercial Capital Improved Value increased by 5.5%
- Industrial Capital Improved Value increased by 18.6%
- Rural Capital Improved Value increased by 17.8%
Breakdown by land use
- 2.86 million properties
- $1.53 trillion Site Value
- $2.36 trillion Capital Improved Value
- 172 thousand properties
- $122 billion Site Value
- $273 billion Capital Improved Value
- 93 thousand properties
- $89 billion Site Value
- $154 billion Capital Improved Value
- 163 thousand properties
- $194 billion Site Value
- $236 billion Capital Improved Value
Other statistics by VGV
VGV also produces annual and quarterly property sales statistics.
Page last updated: 21/07/23