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The Growing Popularity of Street Art

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All around the UK, from large cities, to towns and small villages, we are seeing the rise in numbers of one of Britain’s fastest growing trends – street art. From murals, to large full scale building pieces, street art is being invested in by councils and cities all over the country. . Independent artists are brightening up our streets and residential areas to build a stronger sense of community and vibrancy in their surroundings all across the UK. Here at Awesome Merchandise, we have commissioned local artists at both of our sites to brighten up our factories and to produce some Awesome vibes for our staff.

 

Is street art increasing house prices? 

 

The benefits of street art are huge, from supporting and showcasing local artists, to brightening up areas that were once run-down. Could street art be increasing property value? We’ve researched just how street art impacts the value of a house with a mural either on it or nearby, and we’re wondering how likely people are to spend more on a property near one.

 

After researching some Awesome street art across the UK, and comparing house prices since the murals we’re created, we’ve managed to compile a large amount of data on house property prices over the last two years and how exactly street art has affected this.

 

 

 

Belfast (+£20,204 Mural House Market)

 

Belfast has seen an average market value of house prices increase by an average of 5% in the last year, according to land registry data. The average house value in Belfast was £135,000 in May 2020 but is now valued at £142,394 as of April 2021.

 

Source: Twitter / Dan Kitchener

 

Sending the message that people can still go anywhere in the world, Dan Kitchener, a professional mural artist was commissioned to create an inspiring mural named ‘Black Taxi’ on Enfield Street in Belfast to bring vibrancy to the community and lift spirits whilst travel has come to a stop in more recent times.

 

The work was recently completed in May 2021 and has seen an impact on house prices on the street compared to the previous year.

 

The average price of a house on Enfield Street was £79,872 in July 2020. Compared to July 2021 the street has seen a 25% increase and is now estimated at an average value of £100,076. Are people paying £20,204 more to live by this vibrant artwork?

 

Birmingham (+£12,981 Mural House Market) 

 

Known as the capital of manufacturing, Birmingham has seen house prices rise considerably at an average of 10% in the region. With this high rate of inflation the average house price has risen from £188,284 in May 2020 to £207,523 in April 2021.

 

Edwin Ladd

 

Although house prices have concisely increased in Birmingham, this hasn’t stopped murals from being the centre of attention in this colourful city.

 

Recently, Josh Billingham (AKA Gent48), a popular mural artist depicted Birmingham key workers battling against COVID-19 in May 2020. The mural was created to celebrate the indomitable spirit of the city and also members of the BAME community who have played a key role in this pandemic.

 

Based on Meriden Street in Digbeth, Birmingham, property prices in this area were valued at £190,641 in May 2020 (the same time this mural was created). Since then property prices on this street have risen 7%.

 

You can now expect to pay an extra £12,981 to live by this mural, with the average house price on the street now at £203,622 since June 2021.

 

Bristol (+£29,013 Mural House Market) 

 

 

Simon Boddy

 

When Banksy revealed his mural on the side of a house on Vale Street in Bristol back in December 2020, the value of the property went from an estimated value of £300,000 to a staggering region of £5million leaving the house owners stumped on whether to still go through with a pending house sale.

 

Although this isn’t a day-to-day occurrence it still seems over mural work in the city has had some play in the popularity and rise of prices in the area.

 

On May 21st in 2020, six independent female artists came together to complete a wonderful street mural that spreads across several buildings on North Street in Bristol.

 

Artists: Bex Glover, Zoe Power, Gemma Compton, Sophie Long, Emily J Taylor (‘Ejits’) and Lucas Antics wanted to bring creativity to the shopping street and offer a huge attraction for visitors in the area.

 

House prices on the street have risen quite considerably since the work has been showcased. You can now expect to pay just shy of £30K (£29,013) more for a property on this street with the house prices rising 13% from £228, 018 in May 2020 to £257,031 in June 2021.

 

 

Cardiff (+£24,197 Mural House Market) 

 

Another wonderful city known for its artistic culture, has not only seen a house price increase at an average of 7% over the last year, but is also the face of a powerful football and African community mural painted by Bradley Rmer on James Street in Cardiff in April 2021.

 

Richard Swingler

 

Part of the ‘My City, My Shirt’ project which celebrates Cardiff City Football Club with a sense of community and belonging through numerous murals across Cardiff, the mural also better identifies people from a dual heritage or minority backgrounds living in the area to offer a sense of belonging. 

 

House prices on James Street have now risen on average by £25K (£24,197) which approximately at 13% increase, much higher than the 9% across the rest of the city. A house on this street would have cost you around £189,460 back in May 2020, and is now worth around £213,657 since June 2021.

 

Cheltenham (+£25,565 Mural House Market) 

 

Cheltenham spa town might not be a city, but it certainly offers the same level of artistic talent as any of the others on this list.

 

The annual Cheltenham Paint Festival is held here each year and Banksy is known to attend regularly, he even had left his mark with a few murals of his own across the town. Houses in this town have increased by an average of 8% on the property market over the last year.

 

Trish Tothova

 

This Banksy-inspired mural in Cheltenham sits on Tewkesbury Road in between an array of other colourful murals nearby. Created in September 2020 by an artist named Dotmasters, the mural has offered an interesting impact on the property prices of the street.

 

With an increase in the average house price by 14% on the street (£25,565), houses are now valued at an average of £205,257 since June 2021, quite the jump from May 2020, where the average cost of a home was £179,692.

 

Glasgow (+£32,801 Mural House Market) 

 

Glasgow was once named the European City of Culture in 1990 and has lived up to its expectations ever since. Over the last year, Glasgow has seen a 13% increase in property prices on average in the region with the average home costing £150,129 since April 2021.

 

UGC

 

Local artists Molly Hankinson and Michaela McManus came together in a collaboration to create a mural on Stobcross Road in Glasgow in April 2021. The 10-foot mural was supposedly painted to show the stars of lockdown – our friendly pooches, who have helped people get through thick and thin during the pandemic.

 

Since the mural was cast upon the walls, the property prices on the street have increased by 15% with houses costing an average of £248,288 (June 2021) on the street, an additional £32,801 to street value back in June 2020 where they were valued at £215,487.

 

The price is well above the average market value in the city and in the last three months alone, since the mural was painted, the house prices on the street were raised a further £4,790 (+1.97%) on average.

 

Leeds (+£19,209 Mural House Market) 

 

Over the last year, Leeds has seen one of the highest growth rates in property prices across the UK. Also the HQ for our business, the city is known as a hotspot for independent artists to collaborate.

 

 

Leeds City Council

 

In January 2021, artist Akse P19 was commissioned to bring together the Leeds community and showcase its relationship with the US in football relations. The mural of football stars, Kalvin Phillips, Albert Johanneson and Lucas Radbe was turned around in just 7 days and has been welcomed greatly by the people of Leeds.

 

With an increase of 11% in average market value on the street since June 2020, you can expect to pay an extra £19,209 for a property on The Calls. In June 2020 the average value of a home was at £179,307, which as of June 2021 is now valued at £198,516.

 

London (+£54,411 Mural House Market) 

 

As the capital of the UK, London is no stranger to beautiful street art and murals. Over the last year, the property market in London has suffered due to many escaping to the country, with just a small rise in property prices of an average increase of 1% across Inner London.

 

Stefan Rousseau

 

In June 2021 a new mural of Marcus Rashford was painted on Gainsborough Road in Finchley, North London, dedicated by local school children as a thank you to his support of school free meals for children and has become the new spotlight of the area.

 

The street value before the mural was painted was at an average of £427,152 in 2020, which since the mural was painted this year has now risen a further 13%, hugely above the value for the rest of the city.

 

Expect to pay an extra £54,411 to live on the same street at an average price of £481,152 according to July 2021 Land Registry data.

 

Manchester (+£10,289 Mural House Market) 

 

A striking mural of the late Ian Curtis was painted in October 2020, ahead of Manchester’s mental health music festival. The artist, Akse P19, who is also the great artist of the Leeds mural above, was again commissioned to create a stunning piece of art to remember the late singer of Joy Division.

 

 

 

UGC

 

You can find the mural located on Port Street by the popular Northern Quarter, which has seen a value increase a further £10,289 over the last 12 months. The average property price on Port Street, as of July 2021, is now estimated at £224,747.

 

 

 

Methodology:

All data was collected and amalgamated by Awesome Merchandise, using land registry data to find property prices from 2020 and 2021 in each city. Street price data for both 2020 & 2021 was collected using the Zoopla Historical Property API database and benchmarked against current market value rate. 

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