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.

“Essentially, what we’re often seeing is the devaluation of property assets within active ELs, largely due to the uncertainty that is created,” he said.

“There have been numerous examples locally of potential buyers of properties within ELs simply walking away or only being prepared to purchase at a discounted rate.

“Not only does this create great difficulty in marketing an affected property, but landholders are often reluctant to invest in any capital improvements on their properties when there’s a cloud of uncertainty hanging over the future land use around them.”

Cr Marshall said ultimately landholders were left stuck in no-man’s-land.

“If they’re to sell and get out, they must accept a price below the market value, or stay and with no certainty about the future and what development may occur,” he said.

Cr Marshall said the council would be telling the government that for many rural landholders, their property was their superannuation fund and that people affected were rightfully concerned that ELs were depreciating their prime asset, yet they were powerless to do anything about it.