Valuing Victoria’s heritage

Valuing Victoria’s Heritage

In 2005, the Allen Consulting Group completed the report ‘Valuing the priceless: the value of historic heritage in Australia’ This study was an important milestone in heritage valuation literature as it proved the efficacy of a particular market research technique – choice modelling – as a means of eliciting the community’s willingness to pay (WTP) for heritage outcomes.

In 2017 Heritage Victoria, in collaboration with the Heritage Council of Victoria, engaged SGS Economics and Planning to refresh the study for Victoria and build the choice modelling methodology. The final report, which can be found here on their website presents a study that demonstrates the scale and nature of the value that Victorians place on post-contact heritage.