Table 2. Results of the augmented...

Table 2.

Results of the augmented Dickey-Fuller (ADF) unit root

Variable	Level		First difference
Variable	Lag length	t-stat.	Lag length	t-stat.
Price per hectare for NSW coastal farmland [LnPHCF]	1	−1.33	0	−10.77***
Median non-strata price Central Coast [LnMNSP]	0	−1.20	0	−5.36***
Median strata price Central Coast [LnMSP]	0	−1.46	0	−3.64**
Cash rate [LnCR]	0	−5.17***
Estimated resident population Central Coast [LnERP]	0	−4.27***
Median annual NSW regional income [LnMRI]	0	−0.32	0	−5.51***

Variable	Level		First difference
Variable	Lag length	t-stat.	Lag length	t-stat.
Price per hectare for NSW coastal farmland [LnPHCF]	1	−1.33	0	−10.77***
Median non-strata price Central Coast [LnMNSP]	0	−1.20	0	−5.36***
Median strata price Central Coast [LnMSP]	0	−1.46	0	−3.64**
Cash rate [LnCR]	0	−5.17***
Estimated resident population Central Coast [LnERP]	0	−4.27***
Median annual NSW regional income [LnMRI]	0	−0.32	0	−5.51***

Note(s):

Results of the unit root test of the various variables used in the study. The tested hypothesis is “the variable has a unit root”. The signs *, ** and *** denote the rejection of the tested hypothesis of no unit root at the 10, 5 and 1% significance levels, respectively

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