A large-scale and coordinated effort to retrofit green infrastructure into our built environment could see residential property values increase by 6 to 15 per cent as well as providing social, health and environmental benefits.
A team of researchers at the University of Technology Sydney have spent the past twelve months analysing the business case for more green roofs and walls in Australia.
A literature review as part of the project included a US Cost Benefit Analysis (CBA) which found a viable case for boosting urban greenspace. It showed increases in residential property values with good amounts of green infrastructure was between 6 and 15 per cent.
The review also found that the widescale adoption of green roofs in Toronto, Canada could reduce temperatures in urban areas by up to 5 degrees Celsius.
The Australian research was funded by Hort Innovation under the Green Cities Fund, with co-investment from the University of Technology Sydney, Elmich Australia, Junglefy, Aspect Studios, Flytogreen and contributions from the Australian Government.