The economic slowdown has not affected the value of Clutha district property, with growth from the latest three-yearly valuations outstripping southern powerhouse areas like Queenstown and Southland.
Rural properties led the charge with a 60% increase in capital value and a 69% increase in land value over the past three years, according to figures released yesterday by Quotable Value's southern regional manager, Brendan Rodger.
Dairying played a major role in the rural result, with the capital value of properties tagged for that industry increasing by an average of 90% while their land value soared by 109%.
The value of residential properties also rose in most towns.
But Milton - the town regarded by many as the district's shining economic light - showed no change in the value of the average house, and the average value of land in the town fell slightly compared from 2005 levels. .
Overall, the capital value of properties in the district increased by 44% while land value jumped 58%.
A snapshot of the rural sector showed the value of pastoral land rose 61%, and there were also rises in the value of lifestyle (37%) and specialist (60%) land.
However, the depressed state of the forestry sector came through in the figures, with forestry land rising just 4%.
Homeowners in Lawrence experienced the biggest rise in values, with the average value of a residential property there increasing from $141,000 three years ago to $179,000.
Milton property values were unchanged at $154,000, while the average price of a section in Milton dropped from $50,000 to $47,000.
The biggest gain was in Kaitangata, where the average section rose from $2000 to $18,000.
The overall increase in values district-wide was 44%.
By comparison, Invercargill and Westland experienced a 41% gain and Queenstown values increased 10%.
Property owners will receive their new valuations by mid-December and have until January 30 to lodge any objections.
The valuations took effect from September 1, and Mr Rodger acknowledged the market had changed dramatically changed in some areas since then.
