New rating valuations on the way for Waimate
Waimate District property owners will soon receive new three-yearly rating valuations in the post.
Updated rating valuations have been prepared for all 4,492 properties in the district by independent valuers Quotable Value (QV) on behalf of Waimate District Council. They reflect the likely price a property would have sold for on 1 June 2025, not including chattels.
Since the district’s last revaluation in 2022, the value of residential housing has increased by an average of 4.1%. The average home value is now at $455,000, while the corresponding average land value has increased by 1.2% to a new average of $186,000.
“Residential property values have remained steady with some growth occurring since the 2022 rating revaluation,” said QV valuer Jeremy Clayton.
“Modern dwellings and well-maintained, renovated homes are performing above the district average. Smaller settlements have recorded solid percentage increases, but properties in Waimate township have generally seen values rise more,” he said.
“In other smaller settlements around the district have solid percentage increases however in terms of value growth these areas tend to have risen less than properties located in the Waimate township.”
The average capital value (CV) of an improved lifestyle property has increased by 5.86% to $667,000, while the corresponding land value for a lifestyle property increased by 1.5% to $325,000.
“The lifestyle market has been relatively stable since the 2022 despite wider volatility across New Zealand. Waimate District has not seen the same shifts in demand and supply as other parts of the country, and its lower entry values have helped underpin the stability in the market,” Mr. Clayton added.
Meanwhile, commercial property values have increased 7.5%, while property values in the industrial sector have increased by 12.8%, since the district’s last rating revaluation in 2022. Commercial and industrial land values have also increased by 6.7% and 0.6% respectively; however, some central Waimate township sites rising sharply by as much as 35% over the past three years.
The value of most dairy and pastoral farms has softened slightly since 2022, with dairy farm values increasing by 0.3% and pastoral farm values by -2.1%. Farms with good infrastructure, reliable water, and fewer environmental restrictions continue to attract stronger demand.
On average, arable properties have experienced a -1.5% decrease in value.
“Arable farms generally sit at the top tier of the pastoral market due to easier contour and diverse land-use options,” Mr. Clayton said.
“They’re often held by established family operations with lower debt and strong competition for expansion, which has helped maintain values even when the wider industry has come under pressure.”
The total rateable value for the district is now $6.075 billion, with the land value of those properties now valued at $3.736 billion.
What are rating valuations?
Rating valuations are usually carried out on all New Zealand properties every three years to help local councils assess rates for the following three-year period. They are not intended to be used for any other purpose, such as securing finance or as insurance valuations.
They reflect the likely selling price of a property at the effective revaluation date, which was 1 June 2025, and do not include chattels. Any changes in the market since that time will not be included in the new rating valuations, meaning a sale price today may differ from the new rating valuation.
Rating valuations are calculated using a highly complex and detailed process that utilises all relevant property sales from your area. A large number of properties will also be physically assessed, particularly those that have been issued building consents in the last three years.
The updated rating valuations are then independently audited by the Office of the Valuer General to ensure they meet rigorous quality standards, before the new rating valuations are confirmed and posted to property owners.
If owners do not agree with their rating valuation, they have a right to object through the objection process before 17 October 2025.
