New rating valuations on the way for Buller District
Buller District property owners will soon receive new three-yearly rating valuations in the post.
Updated values have been prepared for all 8,061 properties in the district by independent valuers Quotable Value (QV) on behalf of Buller District Council. They reflect the likely price a property would have sold for on 1 September 2025, not including chattels.
Since the district’s last revaluation in 2022, the value of residential housing has increased by an average of 10.6%. The average house value is now at $390,000, while the corresponding average land value has increased by 7.8% to a new average of $130,000.
“The residential market in Buller has generally bucked national trends over the past three years and experienced an overall increase, albeit starting from a low value base. Values were steady during 2023 and 2024, with 2025 showing increased activity and sales figures,” said QV valuer Jeremy Clayton.
“Since the flooding in 2022 there has been an influx of repairs and renovations on damaged properties which has meant the majority of dwellings are in a reasonable condition, some having been extensively modernised as a result.”
The average capital value of an improved lifestyle property has increased by 15.4% to $506,000, while the corresponding land value for a lifestyle property increased by 15.9% to $278,000.
“Lifestyle properties typically align in value with high-end residential properties and this segment of the market has been strong. The relatively low price point by national standards appeals to those wishing to begin lifestyle living,” Mr Clayton said.
Meanwhile, commercial property values have had steady increases of 8.1% and property values in the industrial sector have increased by 4.9% since the district’s last rating valuation in 2022. Commercial and industrial land values have also increased by 6.9% and 14% respectively.
The value of most dairy and pastoral farms has slightly increased since 2022, with dairy farm values increasing by 6.9% and pastoral farm values by 8.5%. “Farms with strong infrastructure, reliable water supplies, and minimal environmental restrictions are in high demand.
Conversely, properties lacking these features are being valued lower more than the average,” Mr Clayton said.
“Properties capable of supporting dairy activities have seen a rise in value, depending on their level of dairy support. In contrast, properties with no potential for dairy activities have slightly decreased in value due to low product prices.”
The total rateable value for the district is now $4.302 billion, with the land value of those properties now valued at $2.196 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, 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 2025, 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 the 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.
New rating values will be posted to property owners from 8 April 2026. If owners do not agree with their rating valuation, they have a right to object through the objection process by 15 May 2026.
If you’d like more information on rating valuations head to www.qv.co.nz/about/about-rating-valuations/ or visit www.qv.co.nz/services/rating-valuations/object-rating/ to find everything you need to know about lodging a formal objection.
For more information, please contact:
Simon Petersen
QV Communications Manager
(09) 361 7216
Simon.Petersen@qv.co.nz