New rating valuations released for Selwyn

Selwyn property owners will soon receive new three-yearly rating valuations in the post.
Updated values have been prepared for all 35,792 properties in the district by independent valuers Quotable Value (QV) on behalf of Selwyn District Council. They reflect the likely price a property would have sold for on 1 September 2024, not including chattels.
Since the district’s last revaluation in 2021, the value of residential housing has increased by an average of 5.2%. The average house value is now at $846,000, while the corresponding average land value has decreased by 6.4% to a new average of $374,000.
QV Canterbury Manager Brendon McCurley said the Selwyn property market had remained relatively stable over the last two years.
“Values for the previous valuation in September 2021 came at a time of significant value growth with values peaking in early 2022, declining slightly, and remaining relatively stable from then until now. As a result, the majority of residential properties will be seeing values that are lower than the levels seen at the market peak but are still showing an increase from their last valuation three years ago.”
He said different townships within the district have had varying levels of change to their Capital Value. In the district’s largest township of Rolleston, for example, capital values have increased by 1.1% compared to an average increase across the wider district of 5.2%.
“This softer increase is in large part due to the higher base value level, and continuingly growing level of supply available in Rolleston. Typically, residential land values have decreased in the main townships as well due, which is due to increased supply of available land and increasing cost pressures for building,” Mr McCurley said.
“The relative affordability of the Selwyn and wider Canterbury housing market means that value levels have fared relatively well by national standards. Whereas other parts of the country are seeing values fall, Selwyn has still seen overall growth since 2021.”
The average capital value of an improved lifestyle property has increased by 11.2% to $1,382,000, while the corresponding land value for a lifestyle property increased by 12.5% to $694,000.
Residential housing value changes since 2021 revaluation:

“Lifestyle properties typically align in value with high-end residential properties and this segment of the market has been strong,” Mr McCurley added.
Commercial property values have had a slight increase of 0.5%, while property values in the industrial sector have increased by 35.4% since the district’s last rating valuation in 2021. Commercial and industrial land values have also increased by 8.8% and 83.8% respectively.
“The growth of industrial land values has been significant. This has largely been driven by the strength of the industrial market in Rolleston within IZone, IPORT and Tawhiri Business Park, with sales showing large increases in values here driven by a strong Industrial market nationally but also from improved infrastructure and relatively lower costs compared to Christchurch,” Mr McCurley said.
The value of most dairy and arable farms has risen since 2021, with dairy farm values increasing by 3.9% and arable farm values by 8.7%. Farms with strong infrastructure, reliable water supplies, and minimal environmental restrictions are in high demand. Conversely, properties lacking these features are being valued lower.
On average, pastoral properties have experienced a 4.2% increase in value since 2021. However, this varies based on individual property characteristics. “Properties capable of supporting dairy activities have seen a rise in value since the 2021 revaluation. In contrast, properties with no potential for dairy or arable activities have eased slightly in value due to softer product prices,” Mr McCurley said.
The total rateable value for the district is now $42.906 billion, with the land value of those properties now valued at $23.190 billion.
Property owners are able to view their latest rating valuations at QV.co.nz.
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, including raising finance with banks or as insurance valuations.
They reflect the likely selling price of a property at the effective revaluation date, which was 1 September 2024, and do not include chattels. Any changes in the market since that time will not be included in the new rating valuations, which often means that a sale price achieved today will be different to 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 14 March 2025.