Quotable Value (QV) reassessed 16,070 properties for the Central Otago District Council, estimating what each property would likely have sold for on September 1, 2025.
Across the district, the total rateable value was now $23.84 billion, a 23.8% increase, although much of that jump reflected a change in how hydro assets were assessed. Excluding that change, the district’s capital value increase was about 8.1%, a statement from QV said.
Residential properties — the district’s largest property category — increased an average of 9% in capital value and 8.1% in land value.
Growth varied across towns.
Cromwell recorded the strongest gains, with average residential capital values up 14.23%.
Alexandra rose 5.74% on average.
Most other towns saw 5-10% increases.
Clyde was largely unchanged at 0.21% growth, while Naseby also saw minimal movement.
QV lead valuer Tim McCaw said Central Otago’s housing market had remained relatively stable despite wider economic fluctuations.
"Steady population growth has supported modest value increases across much of the district," he said.
Pressure from buyers relocating out of the Queenstown Lakes District had also put pressure on demand, particularly in Cromwell and surrounding areas.
However, the increases had not been uniform. Mr McCaw said older homes might have seen small decreases, while modern or well-located properties tended to increase.
QV South Island revaluation manager Melanie Halliday said first-home buyers and people relocating to the district were the main drivers of the market, particularly in the $800,000-and-under price bracket.
She said Central Otago continued to attract buyers seeking more affordable housing or a lifestyle change compared with neighbouring Queenstown.
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.
— Allied Media
