Towards a Unified Currency for Landscape Performance Evaluation: A New Zealand Case

Landscape Performance Evaluation (LPE) practices have made significant progress over the past decade. However, challenges persist in comparing landscape benefits and conducting cost–benefit analyses for decision-making. This paper introduces a “universal currency” for comparing landscape benefits and weighing them against costs. Employing a revealed-preference approach, this study quantifies the perceived benefits of public open spaces in a fast-growing peri-urban town in New Zealand by analysing their impact on land values. The findings reveal a positive correlation between proximity to public open spaces and increased land prices, highlighting the potential of economic indicators for unifying landscape benefit measurements. An analysis of 15-year historical geoinformation and transaction data further demonstrates the consistency of the contributions, even during major market disruptions, showing the robustness of the monetary indicator. This exploration, while offering a pathway toward more effective landscape performance evaluation practices, also underscores the critical role of landscape architecture in enhancing human well-being.