Live near an Aldi or Waitrose?
What can this do to the price of your house?
Did you know that living near a supermarket can boost the value of your house massively?
I have a Lidl, Asda, Sainsburys, Iceland and Morrisons with 5 minutes drive of me so this must be working wonders for the price of my house – If only it wasn’t rented accommodation.
The study from Lloyds bank has shown how much your house value can incase depending on the supermarket you live close to.
So just how much does your house value increase thanks to your local supermarket?
- Waitrose – £38,666
- Sainsburys – £27,939
- Marks & Spencer – £27,182
- Tesco – £22,072
- Iceland – £20,034
- Co-Op – £17,904
- Morrisons – £10,558
- Asda – £5,026
- Lidl – £3,926
- Aldi – £1,333
Mike Songer, Lloyds Bank mortgage director said; ”Our findings back-up the so-called ‘Waitrose effect’. There is definitely a correlation between the price of your home and whether it’s close to a major supermarket or not. Our figures show that the amount added to the value of your home can be even greater if located next to a brand which is perceived as upmarket. Of course, there are many other drivers of house prices beyond having a supermarket on your doorstep, but our research suggests that it is a strong factor.
So do these findings surprise you? Have they increased your house value?