Brightly coloured homes leave owners in the pink
TRENDY “Notting Hill” style homes on streets lined with multicoloured houses have seen their prices surge against neighbouring roads, research has found.
The analysis by the HomeOwners Alliance, a property advice site, has found homes on vividly painted roads can be worth an average of 20 per cent more than plain properties close by.
In some cities the price difference is much higher. An average three-bedroom house on Ten Bell Lane in Norwich is worth 65 per cent more than a comparable house a few streets away.
The research looked at the average property value of two similar types of properties, such as a three-bedroom terrace, in nearby streets.
It found that an average three-bedroom house property on the colourful Priory Street in Lewes, East Sussex is worth 32 per cent more than a similar sized home on nearby Sun Street.
Meanwhile, there was a 15 per cent disparity between the rainbow col
Stepping out
oured Kelly Street in Kentish Town, north London and nearby Castle Road.
Emily Murray, blogger and author of
Pink House Living, used to live on Glenisla Gardens in Edinburgh, a street lined with colourfully painted homes. She admitted that she had paid more for the striking exterior “We definitely paid a premium because it was so pretty and because of the coloured houses,” she said.
Ms Murray said the publicity resulting from the outside of her home being pink helped secure the asking price when she moved to London in 2017.
Although she has not painted her new home, she has added a pink steel, brass and bespoke pink terrazzo extension. “Pink was seen as a girly colour but now it’s cool,” she said.
Daniel Hopwood, an interior designer and architect, said he would encourage a fresh lick of paint because “a little individuality is welcome. After all, in areas of wealthy bohemianism such as Notting Hill or Brighton that extra splash of colour has added the charm their residents desired.”
But he warned that if your motivation to paint your house brightly is financial “don’t bother, you‘ll pick the wrong colour as you are not doing it with love”. Paula Higgins, chief executive of the HomeOwners Alliance, said a property’s value can be “thousands of pounds more in a street where all homes are painted brightly” . But Henry Pryor, a property expert, disagreed and said that while painted homes suggested “they are more cared for” they don’t necessarily add value.
“The three most important things about a house are the location, the location, the location. It’s not location, location, paint colour,” he said.