LEADING CHANGE IN AUSTRALIA: Can Money Really Grow On Trees? Increased Tree Canopy Boosts Sydney Property Values
Note to Reader:
A report, released by infrastructure firm AECOM in April 2017, compiled urban data analytics across three different suburbs in Sydney, and found that for every 10 per cent increase in the canopy coverage within the street corridor, the value of properties increased by an average of $50,000.
Image Credit: The Urban Developer website, Australia
Green infrastructure: a vital step to brilliant Australian cities
Report co-author James Rosenwax said population growth in Sydney had placed enormous pressure on existing critical infrastructure like roads and utilities, but trees were often forgotten or undervalued.
“If we don’t put a financial value on trees there is less incentive to protect them when looking at the cost benefits of new roads, bridges or buildings,” he said.
“Unfortunately, the humble street tree is often in conflict with other forms of infrastructure and development.
“Our report found that without sufficient ‘green infrastructure’ Sydney would be hotter, more polluted and could be worth $50 billion less.”
About James Rosenwax
With a background in landscape architecture, environmental management and business leadership James Rosenwax provides a unique point of view on multidisciplinary urban development, city shaping infrastructure and public realm projects.
To Learn More:
To read the complete article, download Can Money Really Grow On Trees? Increased Tree Canopy Boosts Sydney Property Values
Also, download a copy of the report titled Green infrastructure: a vital step to brilliant Australian cities.
