Analysis: Residents demand for “park proximity”

Analysis: Residents demand for “park proximity” confirms greenspace as a highly valued asset worth ongoing investment.

Residents demand for “park proximity”The recently released Natural Capital Account for public greenspace in Londonreported the value Londoners place on living near a public park at £930 per household per year, based on an average 3.4% property value premium home-buyers were willing to pay for “park proximity”. Even with park proximity in low density residential areas of Brisbane averaging just under 200m, residents placed almost as high a value – a 2.28% property value premium (Plant, Rambaldi & Sipe, 2017), worth $AU708 per household  – on access to public green space as London residents.