The latest research from Lloyds Bank has discovered that homes within easy reach of a local supermarket are, on average, £21,512 higher than in nearby regions.
- Properties in areas with a Waitrose, Marks and Spencer, Sainsbury’s or Iceland are most likely to command a higher house price premium when compared to the wider town average.
- The average price for properties within easy reach of a Waitrose is typically £36,480 higher than the wider town average (£429,118 versus £392,939).
- Those living close to a Marks and Spencer have the second highest premium, with properties worth an average of £29,992 more than homes further away.
- Sainsbury’s (£26,081)
- Even discount chains like Iceland (£22,767) command a strong premium.
- Homes within easy reach of all four above supermarket chains are trading at an average premium of 9%.
- Areas close to budget supermarkets have seen biggest house price rises, with growth of 11% in 3 years
- House prices close to an Aldi, Lidl, Morrisons or Asda have grown by an average of 11%, or £21,400, since 2014. This is a faster increase than for all supermarkets (9%) and marginally higher than for all areas in England and Wales (10%)
- In postal districts with an Aldi, the average house price has grown from £178,809 in 2014 to £198,810 in 2017 – an increase of £20,000.
- The largest price increases remain in postal districts with a Waitrose – £33,015 (from £396,104 to £429,118) or 8%.