Living near a local supermarket can push your property value up by £21,500 according to Lloyds Bank.
New research from Lloyds Bank has found that living near a local supermarket can push up your property’s value by £21,500 compared to homes in nearby areas without a supermarket chain.
Lloyds Bank reveals that the Waitrose factor as strong as ever but M&S attracts the largest rise in premiums.
Homes near to budget supermarkets were found to have seen the biggest house price rises, properties near to Lidl, Aldi, Morrisons and Asda have increased 15% (£29,316) over the past four years, according to Lloyds Bank.
Andy Mason, Lloyds Bank mortgages director, commented: “It’s easy to assume the effect of different factors on the value of a property but this research clearly shows that there is a significant link between the convenience of a local supermarket and house prices.
“The Waitrose factor has been known for some time and although the likes of Aldi can’t yet boost house prices in quite the same way, the research shows that all stores are now having a positive effect on local property prices.”
Read the Lloyds Bank news report 9th June 2018 in full click here.