Forget the Waitrose effect, Whole Foods tops the property supermarket sweep
The latest research by estate agent comparison site, GetAgent, has revealed that when it comes to house prices surrounding supermarkets, Waitrose is no longer the top dog.
For many, our trips to the supermarket are the only sense of normality during lockdown and living close by to one can be a sought after commodity for homebuyers even in normal circumstances. However, the research from GetAgent.co.uk shows that you will more than likely pay above average for the privilege.
GetAgent analysed house prices across thousands of areas home to one of the 13 big name supermarkets and found that on average, house prices sit at £308,704; a 34% increase on the current average UK house price of £230,332.
The best supermarket seller? Whole Foods, with the average house price surrounding Whole Food stores at an eye-watering £969,188. That’s 321% higher than the current UK average, and 109% higher than the average of £464,089 surrounding Waitrose stores; the next highest supermarket house price.
Perhaps surprisingly, Budgens ranks third with an average property value of £430,838 surrounding their stores, while Marks and Spencers (£385,026) and Sainsbury’s (£356,090) complete the top five.
Londis, Tesco, the Co-op, Lidl, Iceland and Morrisons are also home to an average house price higher than the current UK average, with just Asda (£211,069) and Aldi (£197,180) coming in at a more affordable price tag.
Founder and CEO of GetAgent.co.uk, Colby Short, commented:
“There’s a new sheriff in town when it comes to the supermarket house price sweep and that’s Whole Foods, with house prices surrounding Whole Food stores coming in far higher than even Waitrose.
Of course, the more ‘prestige’ the supermarket the more likely it is to be located in a wealthy pocket of the UK property market, although some may be surprised to see Budgens ranking above the likes of Marks and Sparks and Sainsbury’s.
Regardless of where you shop, living within close proximity to a major supermarket is probably going to help boost your house price and it’s these day to day amenities that will stand out to buyers ahead of a good restaurant and even a handy transport link.
With current market conditions and a shortage of online delivery slots, a local supermarket could help command an even higher price as many will be looking to travel as little as possible in order to get their essentials.
While market activity is sparse at present, this will bode well for home sellers who need to move but may be worrying about a pandemic induced fall in property values.”
|
Supermarket
|
Average house price
|
Difference to UK average
|
|
Whole Foods Market
|
£969,188
|
321%
|
|
Waitrose
|
£464,089
|
101%
|
|
Budgens
|
£430,838
|
87%
|
|
Marks and Spencer
|
£385,026
|
67%
|
|
Sainsbury’s
|
£356,090
|
55%
|
|
Londis
|
£327,851
|
42%
|
|
Tesco
|
£324,082
|
41%
|
|
Co-op
|
£269,501
|
17%
|
|
Lidl
|
£267,435
|
16%
|
|
Iceland
|
£260,784
|
13%
|
|
Morrisons
|
£254,031
|
10%
|
|
Asda
|
£211,069
|
-8%
|
|
Aldi
|
£197,180
|
-14%
|
|
Overall average
|
£308,704
|
34%
|
|
UK average
|
£230,332
|
N/A
|
|
GetAgent collected the outcode of each UK store for the 13 major supermarket brands, before collecting the average house price in these outcodes to find the average property value for each major brand as a whole.
|
||
You May Also Enjoy
Beach hut values fall for second consecutive year
Burnham’s property and land tax: what would it mean for property owners?
Homebuyers can save up to 47% by looking next door to the UK’s priciest postcodes
Your First-Time Buyer Mortgage Journey
London property values set to fall
