Economic benefits

Consumer behaviour

A study by the University of Washington established a number of benefits in terms of consumer experiences of business districts with trees (Wolf, 1998(a), Wolf, 1999 and Wolf, 2003). Consumers reported consistently higher ratings for a number of categories related to their perception of business districts with trees. They reported a willingness to pay more for parking in landscaped car parks and on average reported a willingness to pay around 11% more for goods in a landscaped business district than a non landscaped district, with this figure being as high as 50% for convenience goods.  Both the business community and consumers were found to favour business districts with good landscaping (Wolf, 1998(b)).  The quality of landscaping along approach routes to business districts has also been found to positively influence consumer perceptions (Wolf, 2000).

Inward investment

The attractiveness of an environment is an important factor in attracting inward investment. Both consumers and businesses have been found to favour districts with high tree cover and the increase in retail prices that can be commanded in well landscaped areas can reasonably be assumed to be a positive benefit in attracting businesses to the district.

Property values

Several studies in the USA have analysed the effect of tree cover on the price of residential house sales, finding that values of properties in tree lined areas may be up to 6% greater than in similar areas without trees (Wolf, 1998 (c)).  The market in the UK is different and a direct translation of these data is not possible. Never the less, an informal telephone survey of estate agents in one area in the UK suggests that tree cover has a positive effect on saleability, if not directly on price.  Properties on tree lined streets were said to be in more demand and to sell faster.