The first UK survey to put a value on an area's trees has concluded that Torbay's "urban forest" is worth a whopping £280 million.

The far-reaching study examined weather and pollution data alongside a study of the trees to conclude they provide £1.5 million worth of ecological services per year.

Exeter-based Hi-Line tree management is involved with Treeconomics, which worked with Torbay Council and other partners to produce the study. It will now help shape policy relating to trees within the resort.

The report found that the 818,000 trees represent nearly 12 per cent of Torbay's land. Their replacement value is £280 million, and they store around 98,000 tonnes of carbon and remove 50 tonnes of pollution particles from the air each year – the equivalent produced by 53,000 large family cars.

Although the figures sound huge, Kenton Rogers, of Hi-Line, one of the founders of Treeconomics, said they were actually underestimated because the model has to be adapted to suit UK conditions rather than the US. It also had to be modified to ensure information sources were free, to keep down costs.

Mr Rogers first heard about the American model at an international conference, and shared it with Torbay Council's tree officer, who was keen to get onboard. Mr Rogers said: "Trees are probably the most important component of any green infrastructure, yet because they are strong, rooted organisms they are often ignored. They can be seen as a risk which has to be managed rather than an asset with a value. I hope this report will help address that."

The report cost £30,000, £10,000 of which was paid by Torbay Council. The rest was funded by partner agencies.

Its findings have been fed into Torbay's Tree and Woodland Framework, which is currently out for consultation. It aims to manage and plant woodlands for the best benefit of communities, the landscape and the environment.

Neil Coish, senior tree officer at Torbay Council, said: "This is the first study of its kind in the UK and has really helped to put Torbay on a national and international platform. We take great pride in our trees and the public have also shown great support for the project."

The software which the model uses is available for free, and it can be carried out by community groups. Treeconomics also acts to train and guide them. Since Torbay, surveys have been carried out in Edinburgh, London Victoria and Luton.

The report can be found at www.Treeconomics.co.uk.