Research from Lloyds Bank has revealed that homes in areas with a Waitrose, Marks & Spencer or Sainsbury’s were most likely to command a higher house price premium when compared with the wider town average.
Homes with a Waitrose nearby cost £43,571 (12%) more than average house prices in the wider town.
Properties with a Marks & Spencer close by cost £40,135 more, with those near to a Sainsbury’s store seeing a £32,707 uplift.
- Nearby supermarket can add £22K to house price
- Properties in market towns cost homebuyers an extra £30,000
- 32% of second-time buyers need financial support from family to purchase
Andy Mason, mortgages director at Lloyds Bank, said that it was easy to assume the effect of different factors on the value of a property, but this research clearly showed that there was a significant link between the convenience of a local supermarket and house prices.
“The Waitrose factor has been known for some time and although the likes of Aldi can’t yet boost house prices in quite the same way, the research shows that all stores are now having a positive effect on local property prices.”