The owner of a Port Melbourne house with a rainbow-striped fence will cop a $4000 fine unless he repaints it.

The Raglan Street fence, in the midst of grey, beige and pink-toned houses, was painted by street artist Lachlan Bell two years ago.

Since then it has attracted scores of compliments, photo shoots, posing tourists and even a television crew.

But a complaint led to Port Phillip Council getting a Victorian Civil and Administrative Tribunal order for the fence to be repainted with heritage colours.

Owner Alex Skopellos faces a $4000 fine if he does not comply. But he said the brightly-coloured fence would stay.