The effect of street trees on property value in Perth, Western Australia

Ram Pandit, Maksym Polyakov, Sorada Tapsuwan, T Moran

    Research output: Contribution to journalArticle

    36 Citations (Scopus)
    18 Downloads (Pure)

    Abstract

    Trees provide a variety of benefits to urban residents that are implicitly captured in the value of residential properties. We apply a spatial hedonic model to estimate the value of urban trees in 23 suburbs of Perth Metropolitan Area in Western Australia. Results show that a broad-leaved tree on the street verge increases the median property price by about AU$16,889, suggesting a positive neighbourhood externality of broad-leaved trees. However, neither broad-leaved trees on the property or on neighbouring properties nor palm trees irrespective of the locations contributed significantly to sale price. Our result has potential implications on planting and maintaining broad-leaved trees on street verges for neighbourhood development and urban planning to generate public and private benefits of street trees.
    Original languageEnglish
    Pages (from-to)134-142
    JournalLandscape and Urban Planning
    Volume110
    DOIs
    Publication statusPublished - Feb 2013

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    urban planning and development
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    Cite this

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    title = "The effect of street trees on property value in Perth, Western Australia",
    abstract = "Trees provide a variety of benefits to urban residents that are implicitly captured in the value of residential properties. We apply a spatial hedonic model to estimate the value of urban trees in 23 suburbs of Perth Metropolitan Area in Western Australia. Results show that a broad-leaved tree on the street verge increases the median property price by about AU$16,889, suggesting a positive neighbourhood externality of broad-leaved trees. However, neither broad-leaved trees on the property or on neighbouring properties nor palm trees irrespective of the locations contributed significantly to sale price. Our result has potential implications on planting and maintaining broad-leaved trees on street verges for neighbourhood development and urban planning to generate public and private benefits of street trees.",
    author = "Ram Pandit and Maksym Polyakov and Sorada Tapsuwan and T Moran",
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    The effect of street trees on property value in Perth, Western Australia. / Pandit, Ram; Polyakov, Maksym; Tapsuwan, Sorada; Moran, T.

    In: Landscape and Urban Planning, Vol. 110, 02.2013, p. 134-142.

    Research output: Contribution to journalArticle

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    AU - Pandit, Ram

    AU - Polyakov, Maksym

    AU - Tapsuwan, Sorada

    AU - Moran, T

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    Y1 - 2013/2

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    AB - Trees provide a variety of benefits to urban residents that are implicitly captured in the value of residential properties. We apply a spatial hedonic model to estimate the value of urban trees in 23 suburbs of Perth Metropolitan Area in Western Australia. Results show that a broad-leaved tree on the street verge increases the median property price by about AU$16,889, suggesting a positive neighbourhood externality of broad-leaved trees. However, neither broad-leaved trees on the property or on neighbouring properties nor palm trees irrespective of the locations contributed significantly to sale price. Our result has potential implications on planting and maintaining broad-leaved trees on street verges for neighbourhood development and urban planning to generate public and private benefits of street trees.

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