Dairy Farmland Prices and Return Expectations in New Zealand

Shi, S; McCarthy, I

Dairy Farmland Prices and Return Expectations in New Zealand

Shi, S

McCarthy, I

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Publication Type:: Conference Proceeding
Citation:: 17th Pacific Rim Real Estate Society Conference, 2011, pp. 17 - 19
Issue Date:: 2011

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Field	Value	Language
dc.contributor.author	Shi, S https://orcid.org/0000-0003-4188-5151	en_US
dc.contributor.author	McCarthy, I	en_US
dc.date	2011-01-17	en_US
dc.date.issued	2011	en_US
dc.identifier.citation	17th Pacific Rim Real Estate Society Conference, 2011, pp. 17 - 19	en_US
dc.identifier.uri	http://hdl.handle.net/10453/119976
dc.description.abstract	Using transactional data of New Zealand dairy farms over the period of 1981 to 2009, this paper investigated the relationship between dairy farmland prices and farmers’ return expectations based on the present value model. In short-term dairy farmland prices were positively correlated to farmers’ income expectations but negatively related to total return expectations. In long-term dairy farmland prices were significantly influenced by the growth expectation from farmers for both income returns and capital gains. It is debatable whether the current high growth expectation on New Zealand dairy farms is sustainable.	en_US
dc.relation.ispartof	17th Pacific Rim Real Estate Society Conference	en_US
dc.relation.ispartof	Pacific Rim Real Estate Society Conference	en_US
dc.title	Dairy Farmland Prices and Return Expectations in New Zealand	en_US
dc.type	Conference Proceeding
utslib.location.activity	Gold Coast, Australia	en_US
utslib.for	1205 Urban and Regional Planning	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	closed_access
pubs.consider-herdc	false	en_US
pubs.finish-date	2011-01-19	en_US
pubs.publication-status	Unpublished	en_US
pubs.start-date	2011-01-17	en_US

Abstract:

Using transactional data of New Zealand dairy farms over the period of 1981 to 2009, this paper investigated the relationship between dairy farmland prices and farmers’ return expectations based on the present value model. In short-term dairy farmland prices were positively correlated to farmers’ income expectations but negatively related to total return expectations. In long-term dairy farmland prices were significantly influenced by the growth expectation from farmers for both income returns and capital gains. It is debatable whether the current high growth expectation on New Zealand dairy farms is sustainable.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/119976