''There's lots of positives from the latest revaluation - not too much variation across the district and good news all around,'' he said.
The revised valuations were sent to property owners late last year and QV southern manager Tim Gibson said the total value of the district had risen by 7.6% to $7.13 billion, compared with the figures from 2010.
''During the last revaluation in 2010, the market was depressed with low sales volumes and demand for urban-based property following the peak of the market in 2007,'' Mr Gibson said.
More demand had been seen for residential property in 2013, in part due to lower interest rates and more confidence within the business sector.
''There's good demand for entry-level properties, for first-home buyers or investors.''
Mr Lepper said it was good to see properties in the key producing sectors - pastoral farming and horticulture - increasing in value significantly.
Pastoral farms increased in value an average of 25%, while horticulture blocks increased by 10.5%.
''Overall, the new figures are pleasing, on the whole. It's positive news and shows Central Otago is still a vibrant place to live and work,'' he said.
The average house price across the district was $309,600, up by 0.5% on the average in 2010.
Average house prices in Alexandra and Ranfurly were up, 3.1% and 4.7% respectively, while the average prices in Cromwell, Naseby and Roxburgh were down on the 2010 prices.
The district's total value was made up of residential properties (32.9% of the total), rural (30.7%) and lifestyle blocks (12.4%), with the rest made up of businesses, commercial and industrial, forestry and mining properties.
Mr Gibson said the lifestyle market was similar to that experienced in 2010.
Vacant blocks in the main lifestyle areas had maintained or were slightly below previous values.
Lifestyle blocks further from main centres, such as Queensberry, where there was an oversupply of vacant blocks, and St Bathans ''where demand has just dried up'' dropped in value by up to 20%.
Industrial sections were available in Alexandra and Cromwell and there was ''limited demand at present'.
Cromwell seemed to have an oversupply of industrial property, outside McNulty Rd.
The revised values took effect from September 1 last year. Gore and Dunedin districts, as well as Central Otago, were revalued last year.
This year, it will be the turn of the Waitaki, Clutha and Queenstown Lakes districts and Invercargill.
- A total of 290 ratepayers (2.1%) have objected to the valuations, Mr Gibson said, similar at the last revaluation. Those properties will be reconsidered over the next few months.
