Nutrient Regulation effect on the value of farmland in New Zealand

TitleNutrient Regulation effect on the value of farmland in New Zealand
Publication TypeJournal Article
Year of Publication2018
AuthorsGarner, G. Owen
Secondary AuthorsPercy, E.
Journalunder submission
Keywordsfarmland value, freshwater, nitrate leaching, Nutrient, productivity, property value, regulation
Abstract

The National Policy Statement for Freshwater Management 2011 and 2014 heralded freshwater regulation rollout in Aotearoa-New Zealand, largely coming into full effect in 2017. New rules introducing a framework for management of freshwater resources are being progressively introduced at regional levels to reduce pollution through a focus on nonpoint source nutrient leaching and runoff from farms. Areas of differing environmental risk and set nitrate leaching limits for different zones create water management zones where specific nutrient rules apply. As a result, the regulations associated with this serve to place controls on productivity in accord with the particular zoning rules applying for a particular region. On the basis that land value is closely linked to its productive capacity, the value of land is also potentially affected since management systems and farm inputs are constrained. This report endeavours to understand how this new wave of regulation is currently impacting land values in the Selwyn-Waihora District of the Canterbury Plains of New Zealand’s south island. Following a period of what has been mooted as extensive community collaboration with the regulators, it also looks at what the perceived impacts are as regulations come into effect.

Refereed DesignationRefereed