Valuing public and private urban tree canopy cover

In this paper, we estimate the effect of tree canopy cover on sales price of urban residential properties in Perth, Western Australia. Using a data set of 5606 single family homes sold in 2009 and a spatial hedonic model with three spatial effects – spatial-temporal lag on dependent variable, spatial error, and spatially lagged independent variables – we estimated the location-specific effect of tree canopy cover. Tree canopy cover increases the property value when located on adjacent public space, but decreases the value when it is on own property and on the adjacent property within 20 m of property boundary. The results are suggestive that council urban tree planting programs provide significant private benefits to homeowners.


Issue Date:
Jul 01 2014
Publication Type:
Journal Article
ISSN:
1467-8489
Language:
English
Published in:
Australian Journal of Agricultural and Resource Economics, Volume 58, Issue 3
Page range:
453-470




 Record created 2017-08-24, last modified 2017-08-25

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