Trees can add $50,000 value to a Sydney house

Sydney’s Inner West Council has a new policy that it is reported means “residents will no longer need to seek council approval to prune or remove trees within three metres of an existing home or structure”.

Green infrastructure offers significant, economic, social and environmental benefits. Urban greening is particularly important in dense urban areas like Sydney’s Inner West. Among its benefits, green infrastructure:

  • Improves air quality
  • Provides space for social interaction
  • Manages stormwater
  • Reduces the urban heat island effect
  • Provides space for urban food production
  • Improves biodiversity

Tree canopy in Sydney area

A 2017 study focusing on three Sydney suburbs found a 10% increase in street tree canopy could increase property values by A$50,000 on average. And the shading effect of trees can reduce energy bills by up to A$800 a year in Sydney.

As populations grow, cities increase density, with less green infrastructure. The loss of greenery affects the natural environment and both human and non-human well-being.

Identifying all the value of green infrastructure

The many benefits of green infrastructure are both tangible and non-tangible. Economic benefits include:

  • Those that directly benefit owners, occupants or investors – stormwater, increased property values and energy savings
  • Other financial impacts – greenhouse gas savings, market-based savings and community benefits

*source Property Observer

Posted in Latest news, News on 12th September, 2019