Elusive Brittish graffiti artist, Banksy (possibly Massive Attack's Robert Del Naja? - or a collective of artists from Bristol? - or maybe Keyser Soze?) has done just that and according to the latest research from eMoov.co.uk, many homeowners would pay more money for a piece of property tagged with his work. Some would commonly pay more than 5% of the property’s value, while others up to 30%.
eMoov shows where Banksy enthusiasts could shop for property on streets of London with the artist’s famous paintings for an affordable price, often below the borough’s average.
Essex Road, Islington: £350,000
London’s most affordable street to live near a Banksy is Islington’s Essex Road, where a painting of kids flying a Tesco bag as a flag can be spotted. Although the bag has been painted over with “King Robbo,” the street can still enjoy a Banksy at a more affordable price than property in the borough as a whole, which has an average price tag of £779,899.
Islington also houses a couple more paintings from the artist at a higher price point: a helicopter on Old Street (£640,000) and a more eerie painting with a small girl being abducted by a cash machine on Rosebery Avenue (£1,082,000).
Chrisp Street, Tower Hamlets: £412,857
The location of a piece with a cartoon remarking: “oh no… my tap’s been phoned” over a white brick wall near the market also comes at a bargain well below the borough average (£514,570) and London’s average (£623,154).
Stoke Newington Church Street, Hackney: £519,000
A caricature of the Royal Family lays here that is nearly painted over with black on the side of a building. This street offers a less expensive option in comparison to the average price across the borough (£600,540).
A pricier alternative in the neighbourhood is the beer garden at the Cargo Club on Rivington Street, where potential homebuyers will pay out an average of £913,334. Although the club itself is not for residential use, buyers can invest just outside of the venue’s perimeters to be closer to a Banksy.
Chiswell Street & Tooley Street, Southwark: £537,850 & £540,000
Some artwork of Banksy’s famous rats is located on both streets, which share a similar price range for homebuyers and are also well below the borough’s average price of £751,146.
For those looking to live closer to a larger Banksy piece in Southwark of a fishing child, the Bermondsey Wall West offers property that averages at £1,575,000.
Cambridge Gardens, Kensington and Chelsea: £694,975
Moving to west London, a great bargain right off of Portobello Road is available close to a Banksy of a man painting. The price is right when compared to the average across of the borough (£2,293,421).
Bruton Street, City of Westminster: £1,865,500
For high rollers, the prices are heftier in Mayfair and this particular Banksy piece of a shopper falling down along a tall building is on a street that has a much higher price than the borough average of £1,161,079. It is by far the most expensive street in London to live close to a Banksy.
However, there are alternatives for Banksy fans looking outside of the capital because Bristol is coated with the artist’s street art and has a more affordable average price tag of £295,772. Cheltenham is also home to a Banksy piece depicting a spy booth, where property averages £323,938.
Russell Quirk, founder and CEO of eMoov.co.uk, commented: “It is always exciting to see what features would make a home buyer pay extra for a property. In this case, people living in close to a Banksy piece have the opportunity to make some money if the right buyer comes along looking to be near the famed artist’s work.
In the majority of the areas where Banksy paintings are found in London, the prices are still affordable but it would be interesting to see over the next few years if Banksy’s presence helps property prices grow.”
