Hawkes Bay Today
  • Hawke's Bay Today home
  • Latest news
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
  • Video
  • Death notices
  • Classifieds

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • On The Up
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
    • All Property
    • Residential property listings
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology

Locations

  • Napier
  • Hastings
  • Havelock North
  • Central Hawke's Bay
  • Tararua

Media

  • Video
  • Photo galleries
  • Today's Paper - E-Editions
  • Photo sales
  • Classifieds

Weather

  • Napier
  • Hastings
  • Dannevirke
  • Gisborne

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / Hawkes Bay Today

Central Hawke's Bay rateable values jump 55 per cent

Hawkes Bay Today
25 Nov, 2018 05:00 PM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Waipukurau, in Central Hawke's Bay. Rating values on homes in the district have increased by 55 per cent. Photo / File

Waipukurau, in Central Hawke's Bay. Rating values on homes in the district have increased by 55 per cent. Photo / File

Rating values (RV) on homes in Central Hawke's Bay have shot up by 55 per cent, on the back of a thriving property market in the district.

Every council in New Zealand must complete a revaluation of the properties within its district at least once every three years. Quotable Value (QV) has prepared this year's revaluation and determined the average house capital value is now $345,000 and house land value is $102,700.

Mayor Alex Walker said the substantial growth in property values was not unexpected and reflected the "surge of positivity and optimism" in the district.

"The secret about Central Hawke's Bay is out. The large amounts of growth and new residents we are experiencing across residential, commercial, industrial and rural properties, recognises that Central Hawke's Bay is a place where families and business can thrive - which has in turn increased the value of property.

"The increased land values also provides opportunities for Central Hawke's Bay residents to realise the potential of their new property values – which is positive all-round for Central Hawke's Bay."

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

The rating revaluation figures compiled by QV show the total rateable capital value of the 7741 properties within the Central Hawke's Bay District is now $5,716,116,000. The land value of those properties is $3,621,894,000.

FOR MORE PROPERTY NEWS AND LISTINGS GO TO ONEROOF.CO.NZ

QV Property Consultant Philippa Pearse pointed out demand for residential property, particularly in areas within commuting distance to Hastings and Napier, had resulted in significant increases in values.

Average prices for residential property have increased by 55 per cent for residential property over the past three years.

Advertisement
Advertise with NZME.

Generally, housing at the lower end of the market has experienced a higher percentage of value growth compared with higher-value properties.

"The buoyant sheep and beef market has also driven strong demand for pastoral farms resulting in value growth. Some rural properties have had a significant increase in the land value due to a change in the prescribed methodology used to value irrigated land set by the Valuer General.

"The lifestyle market has also experienced considerable growth particularly properties in close proximity to townships."

Some commercial and industrial properties have also increased in value. The average capital value for developed commercial property has increased by 10.2% since the last rating revaluation in 2015, and the average capital value for developed industrial property is up by 18.8% over the past three years.

Discover more

Hawke's Bay house prices hit all-time record

14 Nov 12:30 AM

Hawke's Bay rents rocket up

20 Nov 05:31 PM
Business

Farm sales expected to take off

21 Nov 05:00 PM

Hard work and ambition pays off for Taurus

25 Nov 06:00 PM

CHB District Council would use the new values as the base for setting rates from July next year.

Council chief executive Monique Davidson said staff were reviewing the new values to assess the impact on rates for individual properties.

"It is important to recognise that while land values may have increased, the overall rates collected by the council does not increase or decrease. Instead, the new QV values changes how the cost of rates is spread among ratepayers in slightly different proportions than before".

The council had yet to make any decisions about the rating system and levels of rates for 2019/20.

New rating values would be posted to property owners after November 28, 2018. If owners do not agree with the rating value, they have the right to object to their valuation by mail, using the instructions on an owners' valuation notice, or online before January 25, 2019.

The district's residential property stock totalled 4306 properties - 84 more than in 2015.

Davidson said growth was being catered for through the council's Long-Term Plan.

Advertisement
Advertise with NZME.

"This, together with our infrastructure strategy, has driven the extensive capital work programme that the council has committed to over the next 10 years - not only to build resilience within our existing network while also allowing provision for growth."

Save

    Share this article

Latest from Property

Premium
Hawkes Bay Today

Hastings quarry buys neighbouring vineyard for $3m to expand operation

Premium
Hawkes Bay Today

Two more Hawke’s Bay farms sold to overseas buyers for forestry

Business

House prices down in most regions in year to March


Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

Advertisement
Advertise with NZME.

Latest from Property

Premium
Premium
Hastings quarry buys neighbouring vineyard for $3m to expand operation
Hawkes Bay Today

Hastings quarry buys neighbouring vineyard for $3m to expand operation

The owner of the quarry says the expansion will help meet 'supply needs for the region'.

08 Jul 06:00 PM
Premium
Premium
Two more Hawke’s Bay farms sold to overseas buyers for forestry
Hawkes Bay Today

Two more Hawke’s Bay farms sold to overseas buyers for forestry

04 May 06:00 PM
House prices down in most regions in year to March
Business

House prices down in most regions in year to March

14 Apr 10:09 PM


Solar bat monitors uncover secrets of Auckland’s night sky
Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

06 Jul 09:47 PM
NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • Hawke's Bay Today e-edition
  • Manage your print subscription
  • Manage your digital subscription
  • Subscribe to Herald Premium
  • Subscribe to the Hawke's Bay Today
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • Hawke's Bay Today
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • NZME Events
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • © Copyright 2025 NZME Publishing Limited
TOP