Home prices tell us the value the public puts on green spaces

Homes near green amenities are more desirable and more expensive because residents are willing to pay higher prices to gain the many benefits of green spaces. Our research has confirmed, for instance, that apartments near to the greenbelt in Vienna, Austria, are more expensive compared to otherwise similar apartments in that city. Similar findings have been reported for cities in England, Ontario in Canada, and the South Korean capital, Seoul. Green spaces have well-known environmental benefits. Green neighbourhoods also have social benefits - such as less aggression and violence, and fewer incidents of youth crimes and domestic violence - and health benefits, including reduced risk of cardiovascular disease, certain cancers and certain types of diabetes. However, Australia's growing cities face a shortage of urban parks. Often, the provision of parks is seen only as planning compliance or an accessory.