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“Don’t hide….because you are that light”

“Don’t hide….because you are that light”

The inspiring words of Herakut that feature high on the mural that covers the façade of Aberdeen’s Indoor Market will keep the memories of the inaugural Nuart Festival fresh in the mind of Aberdonians and visitors to the city. It, and the other fantastic and eye-catching street art painted by international artists throughout the festival, have certainly encouraged many people to see Aberdeen city centre in a new light. No more Grey City.

It’s clear that the Nuart Festival has captured the imagination of the city, particularly the vibrancy and diversity of the street art. You only needed to witness the crowds enjoying the megaphone led guided tours to see that it brought people into the City over the holiday weekend, increasing footfall, which will have undoubtedly benefited local businesses. It has also raised Aberdeen’s global profile as a centre for the arts.

From a property perspective, street art is about people and places; rediscovering hidden parts of a city and rejuvenating them. In a study published in the journal Open Science in 2016, researchers found that there may be a link between street art and property prices in urban neighbourhoods. The study focused on Inner London and compared the trend of rising property prices in certain areas with the amount of street art in those locations to see whether there is a correlation. The researchers used Flickr images tagged as “art” to measure the amount of street art in a particular location. Interestingly, the study identified greater increases in property prices in those areas with the most street art.

Which came first, you may ask, the artwork or the people? And does it matter?

It’s surely not about putting a value on street art in monetary terms, or even about quantifying the enhancement of the built environment. Like all art, it’s about how it makes people feel and the reactions it provokes. And that is priceless. Burness Paull was proud to be the main sponsors of the Nuart Festival 2017.

Peter Smith

Partner

Burness admin