Evaluating Revealed Preferences for Street Tree Cover Targets: A Business Case for Collaborative Investment in Leafier Streetscapes in Brisbane, Australia
Many cities are seeking to optimise the ecosystem service benefits of urban trees by incorporating goals for increasing tree canopy cover into strategies that promote liveability and urban sustainability. We adapt revealed preference valuation techniques as a combined policy evaluation and business case tool with broader application to urban forest planning and investment. We use spatial hedonic price modelling of 2,299 house sales across 80 sample sites in 52 residential Brisbane suburbs, to reveal home-buyers willingness to pay 3.73% more for houses in streets with target levels of footpath tree cover (50% tree canopy coverage of the footpath zone by 2031) nearby (within 100m). An estimate of the contribution of 2010 levels of footpath tree cover (35%) to the prices of houses sold in 2010 ($US15.03 – 15.91 million) far exceeded annual costs to those home owners in local property taxes. Associated annual rates revenues ($US 0.51 – 0.53 million) to local government and stamp duty revenues ($US 0.53 – 0.60 million) to state government help justify ongoing collaborative investment to achieve target levels of footpath tree cover.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Christopher Ambrey & Christopher Fleming, 2014.
"Valuing Ecosystem Diversity in South East Queensland: A Life Satisfaction Approach,"
Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement,
Springer, vol. 115(1), pages 45-65, January.
- Christopher L Ambrey & Christopher M Fleming, 2012. "Valuing ecosystem diversity in South East Queensland: A life satisfaction approach," Discussion Papers in Economics economics:201210, Griffith University, Department of Accounting, Finance and Economics.
- Delores Conway & Christina Li & Jennifer Wolch & Christopher Kahle & Michael Jerrett, 2010. "A Spatial Autocorrelation Approach for Examining the Effects of Urban Greenspace on Residential Property Values," The Journal of Real Estate Finance and Economics, Springer, vol. 41(2), pages 150-169, August.
- Sander, Heather & Polasky, Stephen & Haight, Robert G., 2010. "The value of urban tree cover: A hedonic property price model in Ramsey and Dakota Counties, Minnesota, USA," Ecological Economics, Elsevier, vol. 69(8), pages 1646-1656, June.
- Anselin, Luc & Bera, Anil K. & Florax, Raymond & Yoon, Mann J., 1996. "Simple diagnostic tests for spatial dependence," Regional Science and Urban Economics, Elsevier, vol. 26(1), pages 77-104, February.
- Mansfield, Carol & Pattanayak, Subhrendu K. & McDow, William & McDonald, Robert & Halpin, Patrick, 2005. "Shades of Green: Measuring the value of urban forests in the housing market," Journal of Forest Economics, Elsevier, vol. 11(3), pages 177-199, December.
- Ram Pandit & Maksym Polyakov & Rohan Sadler, 2014. "Valuing public and private urban tree canopy cover," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 58(3), pages 453-470, July.
- Alicia N. Rambaldi & Ryan R. J. McAllister & Cameron S. Fletcher, 2015. "Decoupling land values in residential property prices: smoothing methods for hedonic imputed price indices," Discussion Papers Series 549, School of Economics, University of Queensland, Australia.
- Seth Payton & Greg Lindsey & Jeff Wilson & John Ottensmann & Joyce Man, 2008. "Valuing the benefits of the urban forest: a spatial hedonic approach," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 51(6), pages 717-736.
- J. Paul Elhorst, 2014. "Matlab Software for Spatial Panels," International Regional Science Review, , vol. 37(3), pages 389-405, July.
- Anderson, Soren T. & West, Sarah E., 2006. "Open space, residential property values, and spatial context," Regional Science and Urban Economics, Elsevier, vol. 36(6), pages 773-789, November.
- Tyrvainen, Liisa & Miettinen, Antti, 2000. "Property Prices and Urban Forest Amenities," Journal of Environmental Economics and Management, Elsevier, vol. 39(2), pages 205-223, March. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:eee:ecolec:v:134:y:2017:i:c:p:238-249. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.