Worldwide research indicates that residential property
values are enhanced by at least 5% when the property is located in a well treed
street. Some USA research puts the improved value as high as 20% in some
cities.
A well-treed section of Drouin |
Brisbane and Perth are two Australian cities where recent
research supports this finding.
Real estate agents have recognized the value of a good tree in a front
garden at about $5,000 for a suburban property and earlier work had estimated
that a tree-lined nature strip added 30% to properties.
Princes Way west |
A recent discussion with the principal of a large and well
established real estate agency in Drouin confirms these sorts of findings –
"Homes in leafy streets realize higher values and are easier to
sell".
Wood St |
With 'hard' figures now available, I wonder will the day
come when the removal of a tree or trees from a street might precipitate legal
action by residents for compensation for loss of property value!
I was very surprised to hear how much water a tree will send out into the air on a hot day. Amazing!
ReplyDeleteIndeed Diane,
ReplyDeleteAnd along with the carbon they store, the pollutants they absorb, the oxygen they 'exhale', the habitat they provide, etc, trees are indeed good to have around I reckon.
PW