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The Market Value of Remnant Native Vegetation in a Clearance Regulated Environment

Author/s: Wayne Marano

Date Published: 1/01/2001

Published in: Volume 7 - 2001 Issue 3 (pages 147 - 167)

Abstract

The market value of remnant native vegetation (RNV) on rural holdings is assessed. Using 841 rural property transactions over 1983-97 in selected areas of South Australia, it was found that the presence of non-heritage RNV does not reduce market value, while the presence of heritage RNV does not add to market value. Depending on the region, reductions in property price of $36-$295 per hectare occurred for non-heritage RNV placed under a heritage agreement.

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Keywords

Hedonic Price Modeling - Heritage Agreements - Rural Valuation - Vegetation Management

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