Paint the town red, blue and yellow: Homes on colourful streets can be worth thousands more
March 4, 2020
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March 4, 2020
New research from HomeOwners Alliance and Brewers Paint has found homes on vividly painted roads can be worth an average of 20% more than plain properties close by.
The research uses average valuation figures from the HomeOwners Alliance instant online valuation tool, which is based on up-to-date local data and Land Registry sold data.
The research shows a home on a colourfully painted street could be between 2% and 65% more expensive than a home on a road where most properties are decorated in white or are pebbled dashed or brick-built.
The most pronounced price difference found was for an average three-bedroom house on the vibrant Ten Bell Lane in Norwich, which is worth 65% more than a comparable house in Victoria Street, just a few streets away.
Meanwhile, an average three-bedroom house on the colourful Priory Street in Lewes in East Sussex is worth 32% more than a similar-sized home on nearby Sun Street.
More Colourful Streets
The HomeOwners Alliance also found:
However, in smaller localities where most homes are characterful, the premium for a colourful street is less marked. For example:
Paula Higgins, Chief Executive of the HomeOwners Alliance, says: “The value of a property can be thousands of pounds more in a street where all homes are painted brightly. Of course, we can’t all persuade our neighbours to redecorate their exterior walls in pink, green and orange, to boost our street’s value. But it is worth bearing in mind the premium you will pay for a vibrant street. As little as a few metres away from a colourful road, there could be a huge saving to be made.
“In our recent Homeowner Survey, we found the most important features of a property among those buying a home included a garden or outside space, a property in a good state of repair, the availability of parking, good sized rooms, energy efficiency and good transport links.
Lloyd Meheux, Paint Expert at Brewers Decorator Centres comments: “Choosing trade grade masonry paint is really important when it comes to exteriors. Trade quality paint contains more pigment for enhanced colour retention and also offers superior protection against the elements which is essential when buyers are looking for a home in a good state of repair. For additional peace of mind, look out for BBA certified paints such as Dulux Trade Weathershield, Albany Smooth Masonry or Sandtex Trade which are thoroughly tested for guaranteed lifespan and performance.
Light is a really important factor when deciding on colour whether it’s inside or out. When choosing your shade, consider which direction the painted wall will be facing and work with the light. Blues and greens work better embracing the cooler light reflecting on east and north-facing walls, whereas red or yellow-based shades look best with the warmer light received by south or west facing houses. Look at other painted houses on your side of the street for inspiration.”
Top tips if you’re planning on decorating the outside of your home
Value of comparable property in ‘colourful’ street vs ‘typical’ street
*These are estimated average costs based on research from the Federation of Master Builders and HomeOwners Alliance according to their 2019 HomeOwner survey and the factors affecting Kerb Appeal. Costs may vary.
Brewers decorators are offering 20% off your first and second purchase Click here.
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