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

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