Source: Radio New Zealand
The average home value in Manawatū District is now $618,000. RNZ/Calvin Samuel
Property values in Manawatū District have dropped sharply since the last ratings valuation three years ago.
According to Quotable Value, which carries out valuations on behalf of councils, residential property values have shrunk by 7.6 percent since August 2022.
The average home value is now $618,000, while the corresponding average land value decreased by 12.3 percent to $279,000.
QV lead valuer Jason Hockly said while values had reduced, most markets in the Manawatū District had actually been “stable” since mid-2023, with the biggest slide in prices happening in the 12 months prior to that point.
“The Feilding residential market had variable value changes, with the lower-valued residential properties showing slight increases from 2022 compared to higher-valued properties showing moderate decreases since 2022,” he said.
“Some larger residential land parcels, primarily within the northern area of Feilding have shown some large decreases in the land values.”
Commercial and industrial property have seen slight increases (1.6 percent and 6.4 percent respectively), and dairy farms have largely held their value – but other rural properties have taken a hit.
Pastoral properties decreased 10.5 percent, horticultural properties were down by 8 percent, and forestry properties 19.3 percent.
“Lifestyle” properties were also down 10 to 15 percent since 2022, while land values were down 10-25 percent.
New rating values were posted to property owners from 5 November, 2025.
Those who disagree with their valuations can appeal them before 12 December.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
