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Developing a rural land investment performance index for New Zealand

Eves, Chris (2009) Developing a rural land investment performance index for New Zealand. In Royal Institution of Chartered Surveyors, Cambridge, England.

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Abstract

Agricultural production is one of the major industries in New Zealand and accounts for over 60% of all export trade. The farming industry comprises 70,000 entities ranging in size from small individual run farms to large corporate operations.

The reliance of the New Zealand economy to the international rural sector has seen considerable volatility in the rural land markets over the past four decades, with significant shifts in rural land prices based on location, land use and underlying international rural commodity prices.

With the increasing attention being paid to the rural sector, especially in relation to food production and bio-fuels, there has been an increasing corporate interest in rural land ownership in relatively low subsidised agricultural producing countries such as New Zealand and Australia.

A factor that has limited this participation of institutional investors previously has been a lack of reliable and up-to-date investment performance data for this asset class.

This paper is the initial starting phase in the development of a New Zealand South Island rural land investment performance index and covers the period 1990-2007.

The research in this paper analyses all rural sales transactions in the South Island and develops a capital return index for rural property based on major rural property land use. Additional work on this index will cover both total return performance and geographic location.

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ID Code: 28465
Item Type: Conference Paper
Keywords: rural land, rural property investment, investment performance, rural land vlaues, rural land returns
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BANKING FINANCE AND INVESTMENT (150200) > Financial Econometrics (150202)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > COMMERCIAL SERVICES (150400) > Real Estate and Valuation Services (150403)
Divisions: Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Past > Schools > School of Urban Development
Deposited On: 09 Nov 2009 15:15
Last Modified: 10 Jun 2010 00:08

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