The Wollondilly has been surfing the property wave blowing up from Sydney with a record 74 per cent swell in value over the last three years.

The NSW valuer-general, Peter Cunningham, said Sydney's property ripple had been felt across much of the city's outer-reaches including the Wingecarribee and Wollondilly Shires.

As he crunched the numbers, Mr Cunningham said the Wollondilly had 14,688 properties on the register of land value at total value of $3.3 billion.

Outlining the reasons for the record jump in the shire's land value, Mr Cunningham said infrastructure and lifestyle change played a big role.

"There was strong demand for residential homesites in the shire, with many smaller villages increasing in value due to their proximity to the F5 Freeway, the opening of the M5 East extension and subsequent faster travel times to Sydney and suburbs," Mr Cunningham said.

Pointing out the relatively cheaper prices the Wollondilly offered homebuyers priced out of the Sydney market less than four years ago, Mr Cunningham said demand soared, in turn pushing the shire's prices higher than ever before.

Not only did the residential market benefit from the hungry property market, rural, commercial and industrial sites were swept up in the property frenzy.

A 4000m2 (one acre) rural property in Bargo would have set a homebuyer back $122,000 in 1999.

Now the same property has been estimated at $213,000.

A 2000m2 industrial site in Picton would have been snapped up for an average $64,000 in 1999.

Now the same site costs an estimated $176,000.