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 that an average three-bedroom house in brightly hued Dark Gate Street in Aberaeron, Wales, is worth 28% more than the same size of a 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.
However, in smaller localities where most homes are characterful, the premium for a colourful street is less marked. For example, in Tobermory on the Isle of Mull in Scotland, there is a 12% price difference between homes on the multi-coloured picture-postcard Main Street than in the duller nearby Rockfield Street.
In Kingsand in Torpoint in Cornwall, an average four-bedroom home on multi-coloured lane The Green is worth 4% more than in the less colourful nearby Fore Street in Torpoint and in Staithes, in Saltburn by Sea, in North Yorkshire, an average two-bedroom cottage in Chapel Yard is worth just 2% more than the same size of property just around the corner in Cowbar Cottages.
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 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
1. 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.
2. 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.
3. You do not need planning permission to paint the exterior of your home, but if your home is a listed building you will need listed building consent if you want to change the external character of your property, even by changing its colour.
4. 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.