New research from Lloyds Bank has found that the average house price in areas which offer residents easy reach of a local supermarket is around 7% (£15,331) higher when compared to other areas within the same town which don’t.
However, they say it’s not just any old supermarket. The posh ones actually add even more value to your home. The average price premium for properties within easy reach of a Waitrose is 12% (£38,831) higher than the wider town, Sainsbury’s 10% (£24,507) and Tesco 8% (£17,124). And in London the Waitrose effect is as high as 14%.
Live near an Aldi or a Lidl? Well that’s going to knock your house price by 2% and 3% respectively.
While we have plenty of Waitrose’s, Tesco’s and Sainsbury’s in the Borough, we can’t help wondering whether this is a chicken and egg thing. Do increased house prices and affluent residents simply attract more expensive supermarkets?
Oh and btw, M&S apparently brings only 7% … Must be too many of those £10 meal deals…
Finally, a tweet from one of our Twickenham followers “M&S is 1 minute away in one direction & Waitrose 3 minutes in the other. Poundland is in between lol”