Street trees: paying their way in property value benefits

Plant, L. J., Morrison, T. and Rambaldi, A. (2016). Street trees: paying their way in property value benefits. In: XXIX International Horticultural Congress on Horticulture: Sustaining Lives, Livelihoods and Landscapes (IHC2014): V International Conference on Landscape and Urban Horticulture and International Symposium on Sustainable Management in the Urban Forest. XXIX International Horticultural Congress on Horticulture: Sustaining Lives, Livelihoods and Landscapes (IHC2014), Brisbane, QLD, Australia, (13-24). 17-22 August 2014. doi:10.17660/ActaHortic.2016.1108.2


Author Plant, L. J.
Morrison, T.
Rambaldi, A.
Title of paper Street trees: paying their way in property value benefits
Conference name XXIX International Horticultural Congress on Horticulture: Sustaining Lives, Livelihoods and Landscapes (IHC2014)
Conference location Brisbane, QLD, Australia
Conference dates 17-22 August 2014
Convener D. Aldous, G. Groening, J.P. Rayner, G.M. Moore, B. Wilcock
Proceedings title XXIX International Horticultural Congress on Horticulture: Sustaining Lives, Livelihoods and Landscapes (IHC2014): V International Conference on Landscape and Urban Horticulture and International Symposium on Sustainable Management in the Urban Forest   Check publisher's open access policy
Journal name Acta Horticulturae   Check publisher's open access policy
Place of Publication Leuven, Belgium
Publisher International Society for Horticultural Science
Publication Year 2016
Sub-type Fully published paper
DOI 10.17660/ActaHortic.2016.1108.2
Open Access Status Not yet assessed
ISBN 9789462611023
ISSN 0567-7572
Volume 1108
Start page 13
End page 24
Total pages 12
Collection year 2017
Language eng
Abstract/Summary US research has demonstrated that property value benefits of street trees exceed the costs of their planting and maintenance, yet this has not been demonstrated in the Australian context. By unpacking the effect of street trees from other house, property and suburb features of 2,299 house sales between 2008 and 2010, this research derived a dollar value of Brisbane s street trees. Annual property value benefits of leafy streets, in 2010, were found to be worth more than twice the annual costs of street tree planting and management. For every $ 1 of Council s investment in Brisbane's street trees in 2010, leafy streets were returning $ 2.27 to property owners in higher house sale prices, an estimated $ 1.23 m in state stamp duties, and almost $ 1 m in Council rates revenue. When combined with the results of an analysis of the extent, structure and needs of Brisbane's street tree population in 2010, a business case and priorities for future investments emerged.
Keyword Benefit/cost analysis
Hedonic price model
Street tree cover
Urban forest
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status UQ

 
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