Home values in Christchurch have risen an average of just 1 per cent in three years, according to new council rating valuations.

The latest round of three-yearly valuations puts the average value of homes in the city at $540,000.

Property owners will be able to find out their latest rating valuation at the end of the month, with the new values to affect rates bills from July next year.

The valuations determine how the city's rates burden is divided among property owners, not how much rates are paid in total. They have been calculated for the city council by valuation agency Quotable Value (QV).

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CHRISTCHURCHNZ The average Christchurch home rating valuation is $540,000.

"If the rating value of your property rises or falls, your rates won't necessarily go up or down with it," council head of financial management Diane Brandish said.

"The important thing is how your property's capital value has changed relative to other properties in the city. If your property's value increases by more than average, then your rates bill will go up by more than average."

QV's analysis shows the values of cheaper homes have risen the most since 2016, while those at the top end of the market have fallen slightly.

Stacy Squires/Stuff The Christchurch City Council's new property valuations will affect rates from July.

The 1 per cent increase follows a 7.3 per cent jump in rating valuations between 2013 and 2016.

Property owners will be able to check their new valuations online on the city council's website from November 27, while revaluation notices will be mailed out to all owners in the first week of December.

Also known as capital valuations, they are done as desktop calculations and are not intended as accurate market valuations.

Ratepayers will have a chance to object to their valuation by late January.

The council's total rates take is decided by councillors shortly before the start of each financial year as part of the annual plan. Rates for the average Christchurch homeowner rose 4.7 per cent this year.

This year, the council has valued 160,000 properties, including commercial premises.

Christchurch's property values have been largely flat since the post-quake building boom boosted the number of houses and units in the city.

Other South Island councils revaluing properties this year are Waimakariri, Dunedin, Central Otago, Gore and Waimate.