Ministry of Business and Innovation - Occupation Outlook

Occupation Outlook | Main MBIE Site

Valuers

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Income
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Fees
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Job Prospects

Job Prospects... At a glance

Valuers’ employment is projected to grow in the next few years, which will make it easier for new valuers to get work. Income is high, especially for experienced workers. The fees for a degree are about normal for a three-year programme.

How to become a valuer

What they do

Valuers estimate the value of a number of assets, such as property, buildings, art, historical artefacts and more. A valuer usually specialise in valuing one type of items so they can build as much expertise as possible in a specialised area.

Qualifications

In order to work as a valuer of real estate, you need to be registered with the Valuers Registration Board (VRB). To be registered, prospective land valuers must

  • Be at least 23 years old
  • Have at least three years of valuing experience working directly under a registered valuer
  • Be of good character
  • Have a recognised qualification.

The VRB recognises the following degrees

  • Bachelor of Property at University of Auckland
  • Bachelor of Business Studies (VPM) at Massey University
  • Bachelor of Commerce (VPM) at Lincoln University
  • Graduate Diploma in Business Studies (Urban Valuation) at Massey University
  • Graduate Diploma in Valuation at Lincoln University
  • Bachelor of AgriCommerce (Rural Valuation) at Massey University
  • Bachelor of AgriCommerce at Lincoln University
  • Graduate Diploma in Business Studies (Rural Valuation) at Massey University

When it comes to valuing other types of assets, there are no entry requirements needed to work as a valuer. However, on-the-job training with a skilled valuer and completion of a valuing related programme is highly recommended.

Jewellery valuers have their own registration process. Once they finish their valuation programme, jewellery valuers can register with the Jewellery Appraisers Society of New Zealand.

Valuers Registration Board: www.linz.govt.nz/regulatory/valuation/valuers-registration-board 
Jewellery Appraisers Society of NZ: www.jasnz.co.nz/page/home.aspx

Cost of study

VRB recognised degree
$17,500 over three years

Completing a degree that is recognised by the Valuers Registration Board costs around $17,500 in fees over three years. Further costs may apply.

For a qualification in personal property valuation, check directly with the relevant training provider for more information about fees.

The StudyLink website provides general budget advice for students who are studying through polytechnics, and the Sorted website provides help with detailed budget planning.

Rents vary from place to place. Estimated market rents by region, city and suburb are available on the MBIE Tenancy services website.

Tenancy Services: www.tenancy.govt.nz/rent-bond-and-bills 
StudyLink: www.studylink.govt.nz 
Sorted: www.sorted.org.nz/calculators/money-planner

Where to study

VRB-recognised qualifications are offered at the University of Auckland, Massey University and Lincoln University.

For personal property valuers, training is available through the Appraisers International Society. Note these qualifications are not recognised by the NZQA.

Appraisers International Society: www.aisociety.com/aicertify/advanced-valuation

Completed qualifications

In recent years around 150 students have completed a bachelor’s degree in the broader category ‘Other Management & Commerce’.

Qualification completions chart

Source: Ministry of Education

Income and employment prospects

Income

The annual income for valuers is estimated to be around $91,000. Income depends on experience and the area of specialisation.

Estimated Average Income
$91,000  

Source: MBIE estimates based on Statistics NZ Census and Labour Cost Index

Employment and skill shortages

Valuers’ employment

HistoricProjected Growth
2006 2013 2020 2025
1,269 1,200 1,477 1,645
  -0.8% 3.0% 2.2%

Source: Statistics NZ Census and MBIE projections. Percentages are compound annual growth rates.
* Growth projections are based on the category “Information and Organisation Professionals”.

The number of valuers in employment was reasonably stable from 2006 to 2013. During the next few years, employment numbers are projected to rise at over 2%, and this should mean it will be possible for some new valuers to enter the occupation.

Employment chart

Source: Statistics NZ Census and MBIE projections

Outcomes after qualification completion*

OverseasIn further studyReceiving a benefitIn employmentMedian Salary
10% 11% 0% 86% $44,400

Source: Ministry of Education
*Two years after completion of Bachelor Degree - Other Management & Commerce. ‘Overseas’ refers to the percentage of ALL graduates completing this qualification. Other indicators refer only to graduates living in New Zealand.

Two years after graduation, the great majority of valuers were in employment. Some were overseas, and a relatively small proportion were in further study. Very few were receiving a benefit. The median salary was around $44,400 two years after graduation.

Valuers are not on Immigration New Zealand's skill shortage list

Immigration NZ, skill shortage list: skillshortages.immigration.govt.nz

Where to find job vacancies

The number of online job vacancies for the broader group ‘Land Economists and Valuers’ has shown a similar overall growth trend to the average for all vacancies during the last few years, albeit with more variation.

Jobs advertised chart

Source: Ministry of Business, Innovation & Employment

Valuer vacancies are advertised through public media such as the Trade Me Jobs and Seek websites.

Trade Me Jobs: www.trademe.co.nz/jobs 
Seek: www.seek.co.nz

Career path

Valuers can specialise in valuing certain types of valuation objects, for example commercial property or jewellery. You are more likely to find a range of specialist valuers in towns and cities. In rural areas, you are more likely to find valuers who appraise a wide range of things.

Related occupations

The following occupations are related roles or alternative titles. Some of the roles may require a higher level of skill than entry-level valuers.

  • Auctioneer
  • Insurance Loss Adjuster
  • Land Economist
  • Personal Property Valuer
  • Plant and Machinery Valuer
  • Property Valuer
  • Real Estate Agent
  • Real Estate Valuer

Other information

Links

More information on valuers is available on the Careers New Zealand website.

Careers New Zealand: www.careers.govt.nz

ANZSCO

The Australian New Zealand Standard Classification of Occupations (ANZSCO) is the official classification of occupations in New Zealand.

The occupation of valuers has been coded to the following ANZSCO code for the purpose of this report:

2245 – Land Economists and Valuers