Brisbane buyers pay premium for leafier streets

Brisbane’s leafiest streets – where properties attract higher prices because of their urban tree canopies – are all in the city’s inner-western suburbs.

University of Queensland PhD candidate Lyndal Plant, who recently completed a study on urban forest research, finds St Lucia homes has the most leafy streets in Brisbane with a street tree coverage of 41.37%, followed by Bardon (39.46%); Indooroopilly (35.97%); The Gap (34.62%); and Ashgrove (34.25%).

This compares to an overall tree canopy level in Brisbane of 49%.

Ms Plant’s study also reveals buyers paid 5 per cent above the median price for houses in a street with 50% or more trees.

Sunshine state: What’s inside the Golden Triangle?

Residential blocks with 20% or less trees sold for 4.78% more than the median price, while homes in a street with mature trees sold for 3.27% more than those in streets with new or young trees.

“In property values alone, trees are paying their way, justifying their investment to homeowners and councils,” Plant says.

PhD student Lyndall Plant has completed a study on Brisbane’s leafy streets.

“These figures also translate to street trees exceeding their annual costs of planting and maintenance more than twice over.

“Street trees are good value for money and are worth continuing to support and invest in.”

LJ Hooker Brisbane West sales agent Tyler Bean says homes in tree-lined streets are more attractive for buyers, so they are willing to pay more for them.

Auction trends: Hot auction markets

“If a property doesn’t enjoy a city or river view, a leafy outlook is the next best thing,” Bean says.

“It also gives a home a bit more privacy and in some areas, reduces noise.

Buyers are willing to pay more for leafy streets.

“Brisbane’s western suburbs definitely have more abundant urban canopies especially in certain suburbs where there are a lot of public parks.”

Tree canopies also cool and clean the air and filter stormwater run-off.

“There are also benefits such as green relief from built forms, connections to nature, attractive scenes, and places that encourage outdoor activity,” Plant says.

“However, a strategic approach for increasing tree cover is needed.

“The strategy needs to address the challenges of diminishing space on private land and do more to integrate trees into the design and renewal of sites, streets, infrastructure projects, centres and suburbs.”

This article was originally published in the Courier Mail.