The average house price when the home is located near one of the major UK supermarkets sit at £308,704, according to analysis by GetAgent
The average house price when the surrounding area is home to one of the major UK supermarkets sit at £308,704, according to analysis by estate agent comparison site GetAgent.
This is a 34% increase on the current UK average of £230,332.
The research found that the best supermarket for high house prices was Whole Foods, with average house prices sitting at £969,188.
This is 321% higher than the current UK average, and 109% higher than the average of £464,089 around Waitrose stores, which were next on the list.
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 a higher than average house price, with just Asda (£211,069) and Aldi (£197,180) dipping below the UK average.
Colby Short, founder and CEO of GetAgent, said: 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, Short said.
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, he said.
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, Short said. 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.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.