GUNNEDAH Shire Council will ask the NSW government to remove the uncertainty and address diminishing property values for landholders who find themselves within mineral and petroleum exploration licences (ELs).
Mayor Adam Marshall said the council had endorsed a notice of motion from councillor Stephen Benham at its last meeting to write to member for Tamworth Kevin Anderson about its concerns about the effect ELs are having on the asset value of properties in and adjoining EL areas.
He said with about 50 per cent of Gunnedah shire currently under exploration, there was a great deal of uncertainty there.
“Council will also be requesting the NSW government to explain what action it is taking to protect property equity for affected landholders,” Cr Marshall said.
“Council has raised this issue previously with the former NSW government with no success, so we’re trying again with the new government and hoping to receive a better response.”
Cr Marshall said the council had received numerous representations from local property owners and real estate agents, who reported extreme difficulty marketing properties within active ELs and achieving sale prices anywhere near market value. Read More
Northern Daily Leader
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