Living near Waitrose 'increases property value by 12%'

The survey also claims a house could be worth thousands of pounds less than others in the neighbourhood if it is close to a 'budget' supermarket

People within "easy reach" of a Waitrose can increase the value of their homes by up to 12 per cent, according to a new survey.

Research by Lloyds Bank, published today, shows that the typical price of a property near a Waitrose is around £38,931 more than the price of a property in the surrounding area.

Sainsbury's also appeared to increase the value of a property by up to 10 per cent, with a home costing £273,381 raking in an additional £24,507 if the supermarket chain had a store nearby.

Unfortunately for those who live near a budget supermarket, the survey also claims a house could be worth thousands of pounds less than others in the neighbourhood if it is close to a shop such as a Lidl or an Aldi.

Lloyds investigated average house prices in postal districts that have chain supermarkets nearby to see how they compared to the wider postal region.

Andy Hulme, Lloyds Bank mortgages director, said: "Having a grocery shop within easy reach appears to be high on the list for home buyers looking for good access to local amenities."

Average property price increase according to supermarket proximity

Waitrose: £38,831 (12%)

Sainsbury's: £24,507 (10%)

Tesco: £17,124 (8%)

Marks and Spencer: £18,786 (7%)

Co-op: £15,011 (7%)

Iceland: £9,389 (4%)

Morrisons: £5,480 (3%)

Asda: £209 (0%)

Lidl: -£4,719 (-2%)

Aldi: -£5,910 (-3%)

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