The Economic Value of Our Green Spaces

Well maintained and well managed green spaces change lives for the better, but only with long term funding in place. Currently, investment in restoring derelict land or transforming land into green space is perceived as having no economic value. Through our research reported here however, and in earlier reports on the social value and natural capital value of our green spaces, we disprove this view and provide evidence that demonstrates the positive economic benefits to be had by all.
Green Spaces improve local economies Well managed green spaces can contribute to the economy in many ways and this can enhance the desirability of an area as a place to live, work, play and invest.
Green Spaces -upfront investment is key. Our research has found that: (1) our green spaces and our long term management do help new developments succeed. (2) Some development professionals do recognise that a good quality green space benefits new developments. (3) The development sector overall does not recognise the direct return on investment. (4) The development sector does not have the mechanisms to quantify any direct benefit.(5) There is a lack of understanding in the development sector of the benefits of green spaces next to developments and how they can contribute to land value uplift.
Green Space generate economic uplift Well managed green spaces and parks have a direct positive economic impact in local areas:
Long term investment to maintain good quality green spaces will lead to sustainable economic growth. This can be even greater, where employment is low and deprivation is high. The development, property and planning sectors need to be willing to overcome the barriers to reap the benefits.

Format

Report

Geographic Coverage

Australia-wide

Source

The Land Trust: 2018

Attachments