Colin buchanan

Building on previous work developing a methodology for valuing walking projects we were commissioned by CABE to research the economic impact of the public realm.

This groundbreaking research demonstrates a direct link between street quality and property prices. It shows that the quality of a high street can add at least 5 per cent to the price of homes and to the level of retail rents.

This is the first study to connect economic benefits directly with the quality of street design, management and maintenance. It may seem obvious that smarter streets cost more and that good quality design brings benefits but this research gives us new information: it shows that the design quality of a street affects prices on its own, regardless of any other factors. All the other things likely to affect prices, such as income levels, the quality of public transport, or the range of local shops, have been discounted. Simply improving street design can make a major difference to market values.

These findings support the case for improving street quality, and provide evidence of the likely returns from investing in a high-quality streetscape.

Click here to download the report summary