Business rules
Permanent water trading report
These business rules are a set of processing or ‘filtering’ standards which aim to ensure that aggregate information on Queensland water markets is managed consistently.
Section quicklinks
Transfer of ownership—water
This section of the report relates to water allocation sales (i.e. transfers of legal and beneficial ownership) registered on the Water Allocations Register (WAR) during the reporting period. It includes only those sales where a consideration is explicitly assigned to individual water allocation titles, and no other type of property (e.g. land) is included in the transaction.
Where multiple water allocation titles are included in a single transaction, with one consideration, then the following applies:
(a) If all the titles have the same characteristics e.g. all medium priority, then the transaction details are included when calculating
- number and volume of transfers
- price per megalitre (ML)
- percentage turnover.
A supplemented allocation and an unsupplemented allocation transferred as part of the same sale, clearly do not have the same characteristics.
(b) If any of the titles have different characteristics e.g. supplemented allocations with different priority groups (such as medium and high); or unsupplemented allocations with different water allocation groups (such as Classes 3A and 5B), then the sale price is excluded from the report. Transaction data for each respective type of water allocation is, however, included when calculating:
- number and volume of transfers
- percentage turnover.
Transactions that assign separate considerations for multiple water titles (with or without the same characteristics) are treated in the same way as (b) above.
How data is presented
Entitlement type—data for supplemented and unsupplemented water are presented as follows:
- for supplemented supply, the data is aggregated into:
- water supply scheme i.e. an area defined in a resource operations plan (ROP (PDF, 239K)*
- product i.e. a type of water allocation that constitutes a single trading group (e.g. ‘medium’ or ‘high’ priority)
- for unsupplemented supply, the data is aggregated into:
- water management area i.e. an area defined by a ROP
- water allocation group i.e. a class of allocation with passing flow conditions that constitutes a single trading group (e.g. class 3A: 2500 ML/day passing flow at Mock Weir).
Reporting period—all figures in the report apply for the period specified. Monthly reports also include a financial year-to-date summary and a previous financial year summary.
Number of transfers—the number of water allocation-only transfers registered on the Water Allocations Register during the reporting period. It includes all transfers, irrespective of whether or not there was a monetary consideration i.e. it takes into account all sales data including Gifts for natural love and affection; Transfers for nominal consideration; etc.
Volume transferred—the total nominal volume of water allocation-only transfers registered on the WAR during the reporting period. It includes the total volume of all water allocations irrespective of the number of allocations in a transaction, the consideration, or the type of transfer e.g. Transmission by death or Gift for natural love and affection.
Price per ML—this uses a ‘weighted average’ of all water-only transfers registered on the WAR during the reporting period, with a consideration greater than $0/ML (i.e. when calculating price, transactions including Transmission by death; and Gifts for natural love and affection, are excluded). Arguably, by excluding zero-priced transactions the quality of residual data better reflects the market.
A weighted average is more heavily influenced by some of the numbers it is calculated from than others, accounting for the differences in sales volumes for each trade. It tempers the impact of very high and very low values and volumes of trades, providing a reasonably representative figure.
Percentage turnover—this figure represents the proportion of water allocation stock being transacted in the reporting period (i.e. the percentage of the total volume of water allocations traded separately to land) in relation to the total nominal volume of water allocations available for trading.
Purpose—all water allocations have an attribute specifying a ‘purpose’ e.g. agriculture or industry for which water taken under the allocation may be used. This report does not distinguish between water allocations for a different purpose.
Water allocation leases
This section of the report relates to water allocation leases registered on the WAR during the reporting period. (Only whole water allocations may be leased; and to create an interest at law, a water allocation lease must be registered on the WAR.)
Note: several water allocations may attach to a single lease dealing. In these instances, each water allocation title is included when calculating the following sections of the report.
Number—this is the total number of water allocation leases registered on the WAR during the reporting period.
Average duration of lease—this is the average duration of water allocations that are subject to a lease registered on the WAR during the reporting period. Leases of indeterminate length are not included in this calculation. Note: this figure will be displayed as zero if the only leases that were registered during this period were of an indeterminate length.
Total volume—this is the total nominal volume of water allocation leases registered on the WAR during the reporting period.
Percentage turnover—the proportion of the total volume of water allocation stock being registered on the WAR as a lease in the reporting period, in relation to the total nominal volume of water allocations available to be leased.
Transfer of ownership—land and water
This section of the report is included for comparative purposes and relates to the combined sales of land and water allocation titles in the same transaction.
Number of transfers—the total number of all water allocations that have been transferred as a ‘going concern’ i.e. water titles with land titles, during the reporting period.
Total volume—the total nominal volume of all water allocations that have been transferred with land during the reporting period.
Percentage turnover—the proportion of the total volume of water allocation stock being transacted with land (i.e. as a ‘going concern’) in the reporting period.
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Last updated: 30 April 2009