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Kaipara property owners will soon receive new three-yearly rating valuations in the post, reflecting an average 36.4 per cent increase in residential house values and an average 54.4 per cent increase in land values since the district’s last revaluation in 2020.
Independent valuers Quotable Value (QV) has prepared average values for all 16,234 properties in the district on behalf of Kaipara District Council (KDC).
Capital value (CV) is the price a property would likely have sold for on September 1 last year, excluding chattels. Land value (LV) is the likely sale price of the land if it was vacant. The difference between the CV and LV reflects the value of improvements.
Valuation of properties are reviewed every three years and councils use them as a basis for setting some rates.
KDC says the valuations should arrive in post boxes this month. They can also be checked online at kaipara.govt.nz/services/rates/rates-property-search, or viewed at KDC offices in Dargaville or Mangawhai.
Property owners have until March 8 to raise any objections to the valuations, using forms available online at quotablevalue.co.nz/services/rating-valuations/ or from council offices.
Since the 2020 revaluation, the value of residential housing has increased by an average of 36.4 per cent, with the average house value now at $843,000. The corresponding average land value has increased by 54.4 per cent to a new average of $473,000.
“Since we last revalued Kaipara in 2020, we’ve witnessed a strong increase in residential property value levels overall,” QV Auckland/Northern manager Sanjay Kanji said. “Though property values have softened over the past 18 months or so, they are substantially higher than their pre-pandemic levels.”
Kanji said more affordable properties – particularly around Ruawai and Dargaville – accounted for the highest increases due to competition from first-home buyers and investors.
The average CV of improved lifestyle properties has increased by 37 per cent to $873,000, while LVs for lifestyle properties increased by 46 per cent, to $480,000.
“Kaipara’s lifestyle market has experienced average growth since 2020. Mangawhai, the fastest growing coastal settlement in New Zealand, has experienced the highest increases,” Kanji said. “Retirees, holiday makers and local residents are most active within this market.”
