Anderson Bain - andersonbain LLP News & Updates

Stay updated with Anderson Bain's latest news and expert commentary on conveyancing and property law developments. Explore articles from our experienced team.
2 minutes reading time (306 words)

Proximity to a Supermarket Adds Value to Property

Living near a local supermarket can push up your property’s value by £21,500 compared to homes in nearby areas without a supermarket chain. 

This is the conclusion of new research from Lloyds Bank, which also found that having a premium brand on your doorstep means buyers typically need to pay top prices. Homes in areas with a Waitrose, Marks & Spencer or Sainsbury’s are most likely to command a higher house price premium when compared to the wider town average.

The "Waitrose effect" commands the biggest cash premium - costing £43,571 (12%) more than average house prices in the wider town (£420,112 v. £376,540), followed by properties close to a Marks & Spencer with a premium of £40,135 and Sainsbury’s (£32,707). Homes within easy reach of all three supermarket chains are trading at an average premium of 12%.

In the past year the premium attached to living within walking distance to a Marks & Spencer has grown by £10,143 (from £29,992 to £40,135) the largest rise amongst the supermarkets chains. By comparison, the price premium near a Waitrose has grown by a relatively modest £7,000 in the past year.

Homes close to a Tesco, the UK’s largest supermarket, are also worth over £21,000 (£21,369) more than other properties in the nearby area (£278,647 v. £257,278); closely followed by Co-Op (£21,020) and Iceland (£17,445) stores.

But it’s homes near to budget supermarkets which were found to have seen the biggest house price rise: properties near to Lidl, Aldi, Morrisons and Asda have increased 15% (£29,316) over the past four years. This is a faster increase than for all supermarkets (10%) and shows that houses near discount stores can also be popular and the cheaper supermarkets are catching up fast.

Contact Us

For expert legal advice on buying or selling property then contact our specialist property lawyers today.

Scotland Offers Affordable Seaside Living
Value of the Scottish Housing Market

By accepting you will be accessing a service provided by a third-party external to https://www.andersonbain.co.uk/

Make an enquiry

Complete our contact form and we will get back to you as soon as possible

Your Name* Please let us know your name.
Email Address* Please let us know your email address.
Phone number* Please write a subject for your message.
Which service do you require? Invalid Input
Invalid Input
Message* Please let us know your message.