Prices of homes near a national supermarket store such as Waitrose, Sainsbury’s, Tesco, Marks and Spencer or the Co-operative are typically more than £15,000 higher, a report has found.
Lloyds Bank compared the cost of homes in postal districts which have a national supermarket, with property prices in the surrounding areas of towns, using Land Registry house price figures covering England and Wales.
It found that on average, house prices in areas which have a supermarket in a given town are around 7% or £15,331 higher than areas within the same town that do not have one.
Properties with a Waitrose close by are the most likely to command the biggest price premiums compared with their surrounding areas, the research found.
The typical price of a home near a Waitrose is around £38,831 or 12% higher than the price of a property in the surrounding area.
House hunters searching for a cheaper property in their area which is still handy for a supermarket may want to look nearby an Asda, an Aldi or a Lidl.
Lloyds’ research found properties in postal districts containing these supermarkets tend to be slightly more inexpensive than homes in the surrounding areas of towns.
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