20 Nov 2019

Buyers Pay a Premium for Supermarket Snobbery!

Living near a supermarket isn’t just convenient for doing your weekly grocery shop, it also has the potential to boost the value of your home by tens of thousands of pounds according to research by Loyds bank. But just how much more (or less!) money you can add to your selling price depends on the brand. It seems we are a nation of supermarket snobs!

The good news is that if you own a home within easy reach of a local supermarket then you can command a premium of around £21,512 on average compared to similar properties in nearby areas. However, for the big payment, you’ll need to have a particular supermarket close by. And that supermarket is Waitrose! The “Waitrose Effect” can add  an additional £36,000 to a property price if you home is within walking distance of the upmarket grocer.

Properties close to a Marks & Spencer have the second highest premium with homes worth an average £29,992 more than homes further away, the bank found. Not quite as good as a Waitrose but not that bad thank you very much.

Here’s a run down of the top branded supermarkets and how much they can add to prices of homes within walking distance:

  1. Waitrose, £36,480
  2. Marks & Spencer, £29,992
  3. Sainsbury’s, £26,081
  4. Iceland, £22,767
  5. Tesco, £21,344
  6. Co-Op, £20,687
  7. Morrisons, £10,504
  8. Lidl, £6,416
  9. Asda, £4,117
  10. Aldi, minus (yes minus!) £2,902

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