London’s street art is influencing local property prices, new research finds
New analysis crowns London among the street art capitals of the UK and the world, and shows how street art correlates with property price and adds value to neighbourhoods.
The city was named in research by Bromleys Art Supplies because of:
How many street art murals it has. With at least 496, it has more works of street art than any other UK city.
How widely London’s street art is showcased on Instagram, with an estimated 65 posts per 1,000 people. This means that, relative to its population, London has the UK’s 3rd and world’s 6th highest number of Instagram posts dedicated to its street art.
Brick Lane is a hotspot, with A Couple Holding Hands in the Street by Stik named as the researchers’ favourite (find it here).
Researchers also found a positive correlation between street art and property price in the local area. Bromleys Art Supplies consulted a property expert about these findings.
Glenn Jacobs, Director at Next Home Ltd, told them: “I’ve observed firsthand how neighbourhoods surge in popularity thanks to their rich history, vibrant culture and thriving art scene. Leyton in London, for example, has recently witnessed a burgeoning street art movement, which coincides with an influx of residents from traditionally trendier areas like Hackney and Shoreditch. The transformation of the High Street, especially following the London Olympics, and the addition of a prominent mural by acclaimed artist Camile Walala, have made the area a notable destination. These artistic enhancements, I believe, have played a crucial role in sustaining Leyton’s appeal, even as other local areas face economic challenges.
“Although its impact might be smaller in comparison to other factors, the presence of vibrant street art can contribute to an area’s overall desirability, making it a unique selling point in a competitive market.”
Laureen Pattison, Marketing Director at Bromleys Art Supplies added: “Street art resonates with people because it’s accessible, unpretentious, and profoundly connected to its community, and murals can transform neglected spaces into something much more vibrant and lively that fosters a sense of pride. Street art is greater than the sum of its parts; it’s a dialogue with its surroundings that reflects the local identity. It’s no wonder that this draws people in and inspires them to share it.”