Living close to Waitrose could boost your house price by 12pc

Guy Bentley
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Look to Waitrose for your house price premium (Source: Getty)

Premium properties within easy reach of a Waitrose can command a 12 per cent (£38,831) higher price than similar properties in other areas.

According to research from Lloyds Bank, houses close to supermarkets enjoy, on average, a seven per cent higher price than other properties in the same town.

Lloyds compared the average house prices in postcodes that have a nationwide supermarket to those that don't. Houses close to the upmarket grocer Waitrose were the most expensive but properties close to a Tesco and Sainsbury's were eight per cent and 10 per cent more valued respectively compared with other houses in the town.

Andy Hulme, Lloyds Bank mortgages director, commented:

It’s easy to assume the effect of different factors on the value of a property but this research enables us to clearly see that there is a significant association between the convenience of a local supermarket and house prices.

With homes in areas close to national supermarkets commanding an average of over £15,000 more than those in the surrounding areas, having a grocery shop within easy reach appears to be high on the list for homebuyers looking for good access to local amenities.

The research concluded that the houses with biggest supermarket premium were in the West Midlands where areas with a Waitrose were on average 37 per cent more expensive than homes in surrounding areas without a Waitrose. Next up was the North West with a 33 per cent premium, followed by London with 14 per cent at £76,188.

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