The ‘Waitrose Effect’ Has The Potential To Add Up To £38,666 To a Property
The ‘Waitrose Effect’ is sweeping the nation, signalling to any homeowners within rational walking distance of a Waitrose supermarket that their property could potentially be worth up to £38,666 more than a similar property without a supermarket, according to a recent survey.
It was discovered that living close to any supermarket has a positive effect when tallying up your valuation, but Waitrose was the clear favourite and added the largest sum of value compared to its competitors.
Waitrose’s middle class reputation has transcended into the UK property market and has demonstrated a direct correlation between the price of property and its proximity to a major supermarket.
Other supermarkets have also been found to add value. Sainsbury’s and Marks & Spencer were the next closest rivals to Waitrose, but at the other end of the spectrum, living close to a Lidl or Aldi also commands a premium in the market.
| Supermarket | Premium (%) | Premium (£) |
| Waitrose | 10% | £38,666 |
| Sainsbury’s | 10% | £27,939 |
| Marks & Spencer | 9% | £27,182 |
| Tesco | 9% | £22,072 |
| Iceland | 8% | £20,034 |
| Co-op | 8% | £17,904 |
| Morrisons | 5% | £10,558 |
| Asda | 2% | £5,026 |
| Lidl | 2% | £3,926 |
| Aldi | 1% | £1,333 |
It is not only supermarkets that have the potential to add premium to a valuation, traditional attributes such as successful schooling, market town status, reliable transport links and confidence in crime levels have long been impactful characteristics.
Josh Cousens – abbotFox
Image sourced from Flickr – anonphotography.com
You May Also Enjoy
Forget kerb appeal: LRG report reveals what really triggers a homebuyer’s offer
Prime London’s love affair with period homes continues
Industry Response to latest Nationwide House Price Index
The capital’s most haunted property hotspots for Halloween homebuyers
Annual house price growth edges higher in October
