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Methods used by OECD Countries to Estimate the Stock of Land

Methods used by OECD Countries to Estimate the Stock of Land. Working Party on National Accounts 3-5 October 2007 Charles Aspden, OECD. Balance sheet. Assets Non-financial Produced Fixed Inventories Valuables Non-produced Tangible Land Sub-soil Intangible Financial. Liabilities

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Methods used by OECD Countries to Estimate the Stock of Land

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  1. Methods used by OECD Countries to Estimate the Stock of Land Working Party on National Accounts 3-5 October 2007 Charles Aspden, OECD

  2. Balance sheet • Assets • Non-financial • Produced • Fixed • Inventories • Valuables • Non-produced • Tangible • Land • Sub-soil • Intangible • Financial • Liabilities • Net worth

  3. Balance sheets • Nominal • Revaluation account • Neutral holding gains/losses • Real holding gains/losses • Real or volume terms • Changes in net worth

  4. Some uses of Balance Sheets • Assessment of a nation’s wealth, its disposition, and changes over time • As a numeraire – to put things in perspective • Explanator of behaviour – e.g. household saving and consumption

  5. Balance sheet • Assets • Non-financial • Produced • Fixed • Inventories • Valuables • Non-produced • Tangible • Land • Sub-soil • Intangible • Financial • Liabilities • Net worth

  6. Survey of methods used to estimate stock of land • 14 OECD countries responded, of which 9 reported that they derive estimates: • Australia, Canada, Czech Republic, Japan, Korea, Slovak Republic, US (by sector by different types of land use) • Finland (intermittently) • New Zealand (rural land only)

  7. Survey of methods used to estimate stock of land • Results are provisional • Paper to be re-written with more information

  8. Survey of methods used to estimate stock of land cont. • Methods used fall into 4 major categories: • Surveys • Cadastres • Population census • Land-to-structure ratios

  9. Survey of methods used to estimate stock of land cont. • Surveys: Czech Republic, Slovak Republic , US, • Used by Canada, NZ, Japan for agricultural land • Land areas from survey multiplied by price per hectare • Price per hectare based on transactions

  10. Survey of methods used to estimate stock of land cont. • Cadastre (a database maintained by a government agency in order to value land for tax and/or other administrative purposes): Australia, Finland, Japan and Korea • Comprehensive but values can be understated. Australia and Korea report that they make adjustments

  11. Survey of methods used to estimate stock of land cont. • Population census: a model based on population census data used to determine value of land under dwellings: Australia, Czech Republic • Australia: • Value (D+L) = Dwelling count x unit price • Value (L) = Value (D+L) – Value (D)

  12. Survey of methods used to estimate stock of land cont. • Czech Republic: flats for example • Value (FL) = (Value (2001)/Total area of flats) x Area per flat(2001) x Number of flats x Price index

  13. Survey of methods used to estimate stock of land cont. • Land-to-structure ratios: Canada • At a very detailed level LSRs are calculated as • LSR= (APV-BPV)/BPV, where • APV is total value of residential unit • BPV is permit value for structure • Aggregated to total economy level • V(DL) = LSR(D) x V(D) • Similar approach for non-residential

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