Homes in areas closer to supermarkets command a premium according to Lloyds Bank

May 30, 2017

New research from Lloyds Bank has found that homes within easy reach of a local supermarket are, on average, £21,512 higher than in nearby areas.

Areas close to budget supermarkets have seen biggest house price rises, with growth of 11% in 3 years.

House prices near a Waitrose typically cost £36,480 more than in the wider area.

Properties near a Lidl  now at an average premium of  £6,416; compared to a discount -£4,719 in 2014.

House prices close to an Aldi, Lidl, Morrisons or Asda have grown by an average £21,400 or 11% since 2014.

Andy Mason Lloyds Bank mortgages director, commented:

“With homes in areas close to major supermarkets commanding a premium of £22,000, the convenience of doing weekly shopping within easy reach may well be a pull for many homebuyers looking for good access to local amenities.

“The ‘Waitrose Effect’ is clear; having a premium brand on your doorstep means buyers typically need to pay top prices. But the research also shows that areas with ‘budget’ stores have, on average, seen the most rapid house price growth in recent years.

“There has been some suggestion that the likes of Lidl and Aldi are increasingly locating in more affluent areas where prices are already relatively high. Indeed, in 2014 house prices in areas with a Lidl were, on average, £4,700 lower than in neighbouring areas; today they are £6,400 higher.”

Read the recent Lloyds Bank news release 29th May 2017 in full click here.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Mortgage affordability on course for 2021 levels

Mortgage affordability could be on course to return to its most manageable level in almost five years, according to exclusive new analysis from INTEREST by Moneyfacts, as easing rates and rising incomes restore some breathing space for borrowers. The research shows that average mortgage payments, which peaked at close to half of gross monthly income…
Read More →
Breaking News

City house prices soar

The latest research from Property DriveBuy reveals that house prices in UK cities are significantly outperforming both coastal and countryside locations, rising by an average of 3.4% over the past year, well ahead of the wider UK market which has seen growth of 2.5%. And while countryside homes have also seen a price increase, the…
Read More →
Breaking News

Buyers return to housing market

2026 starts in line with 2024 with buyer demand 9% down on last year’s strong start Buyers are returning to the housing market at the start of 2026 as confidence improves and mortgage rates fall, but a growing number of homes for sale is giving buyers more choice and reshaping market conditions, according to Zoopla’s…
Read More →
Breaking News

How will tenants be affected by the incoming Renters’ Rights Act?

On 28th October 2025, the Renters’ Rights Bill was passed into law, and it is now the Renters’ Rights Act. Changes to legislation resulting from this new Act will take effect from May 2026. This will affect landlords and how they let out their property, and it is worthwhile being aware of how it affects…
Read More →
Seaside Properties UK
Overseas Property

Gibraltar property values rise faster than UK

Gibraltar house prices rise faster than UK and London, despite market activity dropping 46% The latest market analysis by Enness Global has revealed that Gibraltar’s property market has seen stronger annual house price growth than both the UK and London, even as the number of transactions completing across the market has fallen sharply, creating a…
Read More →
Breaking News

Homes with fewer photos priced £80,000 lower

The latest research by London lettings and estate agent, Benham and Reeves, has revealed a stark disparity in asking prices depending on how extensively a property is marketed, with homes listed using four photos or fewer priced almost £80,000 lower on average than those benefiting from five or more images. Benham and Reeves analysed current…
Read More →