Living close to a supermarket has a bigger benefit than convenience alone. Research confirms that it can also increase the value of your home by an average of £22,000.
But upscale brands are not the only ones capable of adding value. Homes close to discount brands Aldi and Lidl also command a greater sale price, with the latter adding nearly three times as much value as an Aldi.
Lloyds Bank compared property prices in postal districts that have larger supermarkets with average house prices in the wider area. It included that proximity to a supermarket can mean an extra £22,000 when it comes time to sell.
The size of this bonus depends on the brand of the supermarket. The ‘Waitrose effect’ can add £38,666 to a sale price while an Aldi in the neighbourhood may mean an extra £1,333.
Living hear a Sainsbury’s or Marks & Spencer can boost a house price by around £22,000. Proximity to an Asda can mean an extra £5,000, and homes within walking distance of Lidl or Aldi are worth £4,000 and £1,300 more than properties in the wider area.