The average house value in the district is now $451,150, according to the district’s rating revaluation for 2019.
Value-level changes vary on location and house type, with the lower end of the market generally having a greater increase across the district.
Lifestyle properties have seen value increases greater than residential since 2016, with the average improved lifestyle property capital value increasing by 3.8%, while the average land value for a lifestyle property increased by 8.4%.
QV registered valuer Kris Rodgers told the North Canterbury News that smaller lifestyle blocks, including those deemed rural residential, had seen the biggest increases.
Less movement was seen in larger lifestyle blocks, 4 hectares and above, although there were pockets with greater value increases.
Bareland blocks, especially smaller ones, around Mandeville and closer to Rangiora had bigger increases than those further out.
Generally, properties within the commuter belt to both Christchurch and Rangiora enjoyed bigger increases than those further out.
The increases in residential property values in Rangiora and Kaiapoi largely moved in tandem, he said, with Rangiora values generally moving slightly more.
Turning to business premises, Mr Rodgers said the commercial and industrial sector had experienced steady growth since 2016, driven by the effects of population growth and construction.
''With the development of new retail space, precincts and industrial developments, Waimakariri business areas are now competing with and attracting customers from surrounding areas, including Christchurch.
''The business sector was one of the largest movers with commercial increasing 14% on capital value and 1.9% on land value, while industrial property increased 8.1% on capital value and decreased 1% on land value.''
Mr Rodgers noted that, in the rural sector, farmers were experiencing regulatory pressures from government and financial institutions, resulting in a fall in sales activity across the district.
''There has been a small decrease in value across dairy properties, whilst pastoral and arable have remained at similar value levels to 2016, with pastoral properties in some localities experiencing a small increase.''
Notices of rating valuation are being posted out to owners now, with 26,628 properties across the district having been revalued.
Rating valuations are carried out on all properties in New Zealand, usually once every three years, to specifically help local councils set rates for the following three years.
Such values are just one of several factors councils use to set rates. An increased rating valuation does not necessarily mean a property owner will pay more rates.
Owners whose properties have increased above the district average will likely pay more, while those whose valuation change is below the average may well pay less.
Council rates will not be updated based on the new valuations until July 1, 2020.
The updated rating valuations should reflect the likely selling price of a property at the effective revaluation date, which was August 1, 2019, but did not include chattels.
The figures from QV show the total rateable value of the 26,628 properties within the district is now $17,252,147,000, with the land value of those properties now valued at $7,883,667,000.
The updated rating valuations are independently audited by the Office of the Valuer General, and need to meet rigorous quality standards before the new rating valuations are certified.
The council's manager of finance and business support, Jeff Millward, says the QV rating valuations don't increase how much the council collects for rates, but can affect the distribution of rates.
''Rates are one source of council income,'' he says.
''Revaluation doesn't increase the amount council collects from rates, but it helps work out everyone's share.''
Also, the revaluation only affected rates based on a property's value. It had no impact on rates set by fixed charges, land area, or targeted rates such as kerbside collection services.
''Rating levels depend on funding decisions made by the council.
''We won't know until the start of the next rates year how the new property values will affect individual rates,'' Mr Millward said.
