Homes located on colourful streets worth thousands more

New research from HomeOwners Alliance and Brewers Decorator Centres has found homes on colourful streets 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.

Homes on colourful streets were priced higher

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.

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.

We also found:

An average three-bedroom house in brightly hued Dark Gate Street in Aberaeron, Wales, is worth 28% more than the same size of home in neighbouring Chalybeate Street.
An average three-bedroom terrace in the rainbow coloured Kelly Street in Kentish Town, north London, is priced on average 15% more than on the next street, the plainer Castle Road.

What to consider if you’re buying a property

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.

What to consider if you’re selling a property

Equally if you want to boost your home’s value with a view to putting it on the market, then it is worth considering other factors that might give buyers a good first impression when they arrive at your property. In our annual Home Owner Survey earlier this year, 68% of home buyers thought kerb appeal was important when buying a home, and things like a well maintained front garden were equally important.

But if you are considering updating your exterior with a lick of fresh paint, then follow our tips for painting your house exterior…

Top tips for painting your house

Brewers say that 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.

Picking certified paints – 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.
Choosing your colour – 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.”
Hiring a decorator – It costs an average of between £450 and £1,500 to have the exterior of your home painted by a professional decorator. Prices vary depending on whether you need scaffolding or not. The work should take a few days to a week to complete depending on the size of your home and whether you want the front as well as the back and any sides to be painted. If you need help finding a decorator or tradesman why not use our find a tradesman service?
Doing it yourself – If you are doing the painting yourself, you will need to clean, scrape and brush the walls before you start painting, as well as repairing any holes and using anti-fungicidal solution on any mouldy areas. You will need to use two coats of trade quality exterior masonry paint – prices are from £8 a litre for a tinted colour. Here’s a video from Brewers on how to prepare your exterior ready for painting.

How often should you repaint?

You should repaint the exterior walls of your home every 10 to 15 years, depending on the paint used and plan this when the weather forecast is favourable.

For more information and practical tips to help you with your decorating visit Brewers for more information.

Save 20% with Brewers

To help get you started Brewers are offering you 20% off your first and second purchase when you sign up to a Brewers Card.

Kindly shared by HomeOwners Alliance (HOA)