Thousands of homeowners across the country have breathed new life into their properties by painting their facades. This trend is particularly prevalent for those with homes featuring the once-unfashionable pebbledash exterior.
Traditionally, pebbledash has been associated with a decrease in property value. However, new research by LEWIS Access challenges this notion, suggesting it may simply be a matter of aesthetics.
Unveiling the Value of Paint: A Data-Driven Approach
LEWIS Access set out to determine whether pebbledash truly affects property value, or if perception played a bigger role. Through a comprehensive study, the company analysed data from 905 semi-detached, 3-bedroom properties with gardens and driveways listed for sale on Zoopla within London.
The study meticulously categorised each property’s facade: no pebbledash, partially pebbledash, or fully pebbledash. Additionally, it noted whether the pebbledash was unpainted or painted, and if painted, the specific colour.
This detailed analysis established an average property value of £616,862 within the dataset.
The Paint Colour Effect: Unlocking Hidden Value
LEWIS Access then took the research a step further. They selected ten properties from each category within the dataset to determine the average price compared to the overall average.
The results were remarkable. Properties with pebbledash exteriors painted in a specific colour saw their average value increase by a staggering £83,138 compared to the overall dataset average.
Transforming Homes, Transforming Value
“Our research demonstrates that the impact of pebbledash on property value may be more perception than reality,” says Mark Guirard, managing director of LEWIS Access. “By simply painting their pebbledash exteriors in the right colour, homeowners can unlock significant value in their properties.”
Featured Photo by Sieuwert Otterloo on Unsplash.