Files
Abstract
This paper uses a national dataset from 1980 to 2010 of valuations and sales data by land use
category from Quotable Value New Zealand to explore patterns in and potential drivers of
values of rural land in New Zealand over time. Increasing our understanding of the drivers of
rural land values will aid in informing how climate change and environmental policy may
influence these values. Climate change brings with it an increased likelihood of extreme weather
events, for example drought conditions and severe storms, which could plausibly influence the
value of rural land through their impacts on the productivity of land. It is also likely to have
profound impacts on global commodity prices. Efficient climate change policy could have
significant impacts on the profitability of ruminant agriculture. Who bears the losses depends
critically on how land values respond to the profitability of different land uses.