Properties are higher in value when they are near green spaces such as gardens and parks than when they are further away. This is the primary finding of the UK’s Office for National Statistics (ONS) recently released analysis. ONS analysis shows that houses and flats within a hundred meters of public green spaces will have property values that are, on average, higher by £2,500 (around US$ 2,800) than if they were located somewhere more than 500 meters away.
The increase in value becomes even greater if the property has a view of the nearby green space. ONS estimates that a view of green space of water boosts the price of the property by a huge £4,600 (around US$ 5,100)
A premium for green spaces
ONS proposes that the reason behind the increased property value due to nearby green spaces is that owners use them for leisure activities such as sports and exercise. People can also walk their pets if there are green spaces around their neighbourhood. The benefits of green spaces and nature to our wellbeing are already proven and this also contributes to higher property prices.
You may have noticed it yourself — going outdoors, exposed in natural surroundings is one way to quickly uplift one’s mood. This uplifting effect is not mere imagination. Decades worth of studies reveal sufficient evidence to conclude a significant association between human health and outdoor time.
Some scientifically backed up effects of being surrounded by nature are:
- Increase in self-reported happiness
- Reduced depression and hostility rates
- Reduced stress and anxiety
- Better heart health
A study shows that you don’t need to go on a mountain hike or camping just get these benefits — even urban green spaces can give you the effects. Urban green spaces will benefit not only us, however. It will also benefit our world. With more trees around, we can help in preserving our lands and reducing emissions. It also helps the city’s biodiversity by giving shelter and space for some animals in the city such as birds. The creation of green spaces is a sustainable way to make cities beautiful.
Bring back the green
With all these in mind, we can see that we really need more green spaces in our cities, not just because it will increase the value of our properties. On the whole, making cities greener seems to be more favourable for all of us.
Knowing this, we should call on our leaders and city planners to also consider the integration of green spaces in the urban setting. Centuries of development greatly detached cities from nature. We have turned the tree-filled land where our cities are situated into concrete jungles. Now, we see that the way forward is to bring back the green.