Having a house near a supermarket can boost your house price by as much as £43,000
Owning a home close to a chain supermarket could potentially boost the house price by £21,500 on average, according to research by Lloyds Bank.
The new research also showed that areas within range of so-called premium supermarkets, such as Waitrose, Marks & Spencer and Sainsbury's, will command house prices which are on average 12 per cent higher compared to the rest of the area.
Waitrose came out on top with the biggest cash premium of £43,571 more than the local average, with Marks & Spencer following close behind at £40,135 and Sainsbury's at £32,707.
Andy Mason, mortgages director at Lloyds Bank, said: “It’s easy to assume the effect of different factors on the value of a property but this research clearly shows that there is a significant link between the convenience of a local supermarket and house prices.”
However, the figures also showed that owning a home close to supermarkets' local shops, such as Little Waitrose, Sainsbury's Local and Tesco Extra, could make prices even more lucrative, adding £58,109 on average compared to superstores.
Despite premium supermarkets having the highest prices, homes closer to budget supermarkets, such as Lidl, Aldi and Asda, have seen the biggest rise.
Over the past four years, house prices for homes close to budget supermarkets have climbed 15 per cent compared to houses close to other supermarkets which have grown by 10 per cent.
Mason continued: “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.”