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Estimating Land Stock: Methods Used by OECD Countries – Insights from the 2007 Working Party

This paper discusses various methods employed by OECD countries to estimate the stock of land, focusing on the responses of 14 nations, including Australia, Canada, Japan, and the U.S. The study categorizes methods into four major types: surveys, cadastres, population censuses, and land-to-structure ratios. Insights into the strengths and limitations of each method offer a comprehensive understanding of how nations assess land value and its evolution over time, thereby aiding in the evaluation of national wealth and economic health.

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Estimating Land Stock: Methods Used by OECD Countries – Insights from the 2007 Working Party

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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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