Street art – you either love it or hate it. The majority of Brits appreciate it as a dynamic form of art while others seem to think it is just glamourised graffiti.
Street art’s popularity has risen dramatically in recent years, partly due to prominent artists such as Banksy. But now, new research commissioned by the Affordable Art Fair reveals that street art in your area can actually add thousands to your property price, even up to £50,000.
The research shows that 43 per cent of Brits would rather be in an area with beautiful murals and street art than a local coffee shop. While 29 per cent of Brits would like to commission an artist to paint a mural on the outside of their own house.
Brits are willing to pay an average of £8,549 extra for a home in an area with colourful street art than one without, with 32 per cent willing to spend up to a whopping £50,000. Many believe that the art enhances community spirit and lifts people’s moods.
The study also asked Brits to name the artist they would love to see produce a mural on their own external walls. The results may come as a bit of a surprise. See the top ten below…
Top 10 artists Brits would most like to create a mural on their house
- Claude Monet
- Salvador Dalí
- Pablo Picasso
- Andy Warhol
- Quentin Blake
- Roy Lichtenstein
- Georgia O’Keefe
- Grayson Perry
- Tracey Emin
- Ben Eine
If you are a lover of street art, then you should head to Bristol or Shoreditch, London, as they were voted the street art capitals of the UK.
‘Today, buyers are more likely to be drawn to areas where street art shows the vibrance of the local community and indeed, there are people who will pay a premium to be a part of it,’ property expert Henry Pryor said.
‘In fact, we are now seeing architects making space for bespoke alfresco artworks in their new projects and either commissioning one-off works or giving space to rotate works.
‘Culture is a positive for prices and at best acts as a magnet pulling in buyers who admire and appreciate the styles.’
So those that were not so sure about street art may start thinking differently now as it may be just the thing to boost your property value.
The Affordable Art Fair Bristol opens its doors to the public on Friday 8th September – Sunday 10th September 2017.