The benefits of green space

We know that our green spaces provide multiple benefits to local communities and wider society. And we know that these benefits have a value.

To further understand their impact, we have worked with partners to research how people use our green spaces, how impactful our green spaces are and how they are valued.

This value has then been translated into financial values. Since this is a common measure of value, we believe that by using this way of measuring the value will help society to recognise and understand how well managed green spaces are contributing to a strong economy and society.

The three reports below explore different approaches to valuing our green spaces in monetary terms…

• The ‘Economic Value of our Green Spaces’ uses a traditional economic approach, using regression, trend and perceptions analyses
• The ‘Hidden Value of our Green Spaces’ uses a natural capital accounting approach
• The ‘Value of our Green Spaces’ uses a social return on investment approach.

Further details are outlined below…

The Economic Value of Our Green Spaces, February 2018

This report looks at one of the Land Trust’s newest parks – Port Sunlight River Park – as a case study to demonstrate how the creation and good quality maintenance of a green space can add value to nearby houses, create and safeguard jobs and generate revenue for local businesses. The benefits include:

• £7.8 million added to the value of houses within a 500 metre radius of the park – an average of £8,674 per property.
• £48,000 annual revenue generated for the small businesses that operate in the park, such as dog walkers and ice cream vendors.
• £38,000 a year additional revenue for other local businesses, where people have spent money while visiting the park.

This report has been produced with the support of Alliance Manchester Business School, Autism Together and the TCPA.

The report is at the bottom of this page, but here are some of the highlights.

Further Reading