REIV analysis shows that greener areas with higher tree density are associated with higher median house prices. A suburb with tree coverage 50 per cent higher than the average for Melbourne sees an increase on their median house prices of $237,000. Two of Melbourne\u2019s greenest suburbs had a median house price of over $2.5m in the most recent June quarter with Balwyn and Canterbury ranking seventh and eighth respectively for tree density.<\/p>\n\n\n\n <\/em>Top 10 Melbourne suburbs for tree density<\/em><\/p>\n\n\n\n Bargain suburbs for buyers seeking leafy areas<\/strong><\/p>\n\n\n\n Some green areas still offered great value with median house prices under $1m. Ringwood East ranked as Melbourne\u2019s sixth leafiest area while having a relatively more affordable median house price of $950,000. With house prices also below $1m Heidelberg Heights was within Melbourne\u2019s 30 greenest suburbs while scoring above Deepdene which had a median price of $3.75m, more than 3 times the price!<\/p>\n\n\n\n How tree canopies could explain some differences in house prices<\/strong><\/p>\n\n\n\n Heathmont had the 3rd<\/sup> best tree density in Melbourne which might partially explain why houses there sell for more than $150,000 more compared to neighboring Bayswater and Bayswater North. Frankston South has a significant price premium of more than $350,000 and a higher tree density rank compared to both Frankston and Frankston North which might be a cause of the house price variation.<\/p>\n\n\n\n![\"\"](\"https:\/\/whiteeaglerealty.com.au\/wp-content\/uploads\/2026\/09\/treedensityinsert.png\")
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