2020 Revaluations

2020 property revaluations

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2020 property revaluations

The 2020 district-wide revaluation is now underway. Valuation notices have been issued and either by post or eNotice, depending how you receive your rates invoice. New values will be used for rating purposes from 1 July 2021.

How does it affect my rates?

If your valuation increases by 50% it does not mean rates increase by 50%.
An increase in values does not increase the overall rates collected by Council. Rateable values are only one component of calculating rates and are used to provide the basis for allocating some of the rates required across all properties in the district. The property valuations underpin how a property is rated. The budget total Council needs each year is set in the Annual Plan process. This total is then divided across all ratepayers using a combination of factors including the rating value of your property. Other income sources for Council are also considered before setting the annual rates requirement

Trends for 2020 general revaluation

Across the district values for residential / lifestyle properties have risen on average 64%, and 50% for all sectors since 2017. The land value alone for residential / lifestyle properties has climbed 90 - 100% due to the shortage of available residential land to build on. This has impacted and driven the average house price to almost $500,000 at revaluation date of 1 September 2020.

Gisborne has experienced an enormous demand in housing, with house prices still lower than in other regions, but steadily climbing. The market shows strong competition between first home buyers, investors, existing locals and new residents to Gisborne. This is impacted by lower interest rates and increasing equity.  

While lower value properties have moved strongly above the average, rural properties moved on average 48% in the East Coast, Waikohu, Tolaga Bay and Poverty Bay Flats areas. 

The difference between a rating valuation and market valuation

Market valuations change depending on the state of the market.

Rating valuations are set on the date of the general revaluation, this was 1 September 2020. They will not change (except for subdivision and building consents) until the next revaluation in 2023.

The rating valuations are prepared using rating methodology and are for rating purposes. Household chattels are not included in the rating valuation, so any expected sale price will include an additional amount to cover chattels.

Several factors are taken into account, including what other properties in the neighbourhood are selling for, the type of property and changes that have been made since the last valuation in 2017.
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.

If you’re selling or purchasing a property, you might consider obtaining a market valuation from an independent valuer as rating valuations are not prepared on the same basis as a private registered valuers report.   

How values have moved in areas  


Average Capital Value

Average Value Change

Average Land Value

Average Value Change



Up 64%


Up 93%



Up 89%


Up 131%

Inner Kaiti


Up 64%


Up 100%



Up 76%


Up 109%



Up 49%


Up 54%

Outer Kaiti


Up 78%


Up 121%

Lytton West


Up 58%


Up 95%

Te Hapara


Up 74%


Up 111%



Up 61%


Up 87%

Rural Residential


Up 48%


Up 66%

Average movements by sector


Average Capital Value

Average Value Change

Average Land Value

Average Value Change



Up 65%


Up 90%



Up 48%


Up 63%



Up 79%


Up 56%



Up 41%


Up 43%



Up 34%


Up 36%



Up 23%


Up 24%



Up 33%


Up 47%



Up 73%


Up 103%

Since 2017, on average commercial properties moved 33% with a parallel 47% in land value, Industrial properties increased 73% with a land value surge of 103%.

There's limited demand for older and earthquake buildings that require strengthening. The shortage of well-located industrial land has driven the significant land value spike.

Since 2017, on average horticulture properties moved 79% with corresponding 56% in land value, driven by local and Bay of Plenty investors developing large scale gold kiwifruit orchards.

This strong performing sector is expected to grow even more over the coming years as new apples and kiwifruit plantings come into full production.

Current development cost including land purchase of around $800,000 per canopy hectare is spent for gold kiwifruit orchards with capital values of around $1 million per canopy hectare on mature orchards. This means a value movement of 200 - 300% for developing and establishing orchards. Water availability is the most significant restriction for future development.

For the first time gold kiwifruit licences have been valued as part of the improvement value. While the licence to grow G3 vines is already assessed together with the planted vines which generate added value and is recognised in market transactions, the same principle applies now to gold kiwifruit growers. Valuers and councils national wide will follow the same consistent approach, regulated under the Rating Valuation Act 1998 and audited by the Valuer-General. In short term, improvement values require the assessment of the value of work done, on or for the benefit of the land.

Since 2017, on average pastoral properties moved 34% and land value 36%.  

The increase is driven by low interest rates and existing farmers and adjoining owners expanding. 

A median sale price reached for 2020 is close to $10,000 per effective hectare and $1,100 per stock unit.

At present there's a tight supply and limited sales volume, returning stable values. Suitable greenfield-land to plant for carbon and harvest is underpinning the overall pastoral values.

Since 2017,  on average forestry properties moved 23% with respective 24% in land value.  

Carbon units and timber components are not valued.

This sector shows a strong demand from overseas investors particularly due to the rising carbon price and attractive government policy.

The valuation process

We provide Lewis Wright detailed records of each property. Those records are kept up-to-date by property inspections for building consents, subdivisions and sales analysis.

Lewis Wright make a detailed review of all relevant sales to ensure that the new value fairly represents the market as it was on 1 September 2020.

The rating valuation will factor any impact Covid may have had on rural, commercial and residential properties in the Gisborne district as at 1 September 2020.

The timeline for revaluation process:

1 September 2020 - revaluation date
4 December 2020 - Office of Valuer General approval
11 December 2020 - valuation notices issued. Property owners will be advised of their new valuations by post. 2020 Revaluation Flyer [PDF, 4.9 MB]
29 January 2021 - objection period closes

How properties are valued

A rating value is assigned to every property in New Zealand as required by law. 

A mass-appraisal approach is used to calculate rating values. All relevant property sales that occurred in an area around the date of the last revaluation are considered.

By using a local valuation service provider this ensures a more robust review of values and trends.

Non-market sales are identified and rejected. Then, a market trend is established and applied to similar properties in the area. 

Supplement information of individual properties is also used, including issued building consents and subdivisions etc.  

Other aspects are also considered to value your property, but are not limited to:

  • Location
  • Size
  • Condition
  • Character
  • Quality of the construction
  • Views / outlook
  • Access (drive on)
  • Garaging / off street parking
  • Other buildings or notable features
  • Sun (aspect)
  • Modernisation (kitchen and bathrooms)
  • Number of bedrooms / bathrooms
  • Privacy
  • Access to local transport and amenities
  • Street appeal
  • Noise

Maori freehold land value is discounted before it gets used for rating purposes. See more information about Maori freehold land

For more information, see the Q&A section

If you're not happy with your valuation, you can object