The Waitrose effect: Living near to the supermarket can double your house price

 
Catherine Neilan
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"With the opening of a Waitrose, I thought we were making real progress," said one local resident (Source: Getty)

We all know that properties near good schools can command higher than average prices - but what about your local supermarket?

If you're lucky enough to live within walking distance of a Waitrose, your home is likely to benefit from an uplift to your house price, new research from Emoov claims.

It's not clear what is the cause and what is the effect - after all the premium supermarket is, by its nature, more commonly found in affluent areas. But properties surrounding a Waitrose are worth on average £456,000 - more than double the UK average of £221,254 - and prices rose seven per cent last year.

Read more: Are you a Waitrose Wendy or a Tesco Tracey?

Emoov clearly believes the "Waitrose effect" is real. The online estate agent quotes a resident of Poynton, in Cheshire, saying: “I thought we were making real progress as a community with the opening of Waitrose in 2012, however with the opening of Aldi I feel as though we are taking a step back into the lower class.”

As evidence, it cites a number of addresses where houses sharing the first half of a postcode with a Waitrose outpaced house price growth in the rest of the town or city.

Waitrose-boosted prices in Upminster, for example, rose 10 per cent compared with three per cent for the city as a whole.

1) Upminster | Waitrose-effect growth 10% | Average growth 3%

2) Dorchester | Waitrose-effect growth 10% | Average growth 4%

3) Sandbach | Waitrose-effect growth 4% | Average growth -2%

4) Farnham | Waitrose-effect growth 9% | Average growth 4%

5) St Ives | Waitrose-effect growth 8% | Average growth 3% 

The most expensive properties near to a Waitrose are - unsurprisingly - in Kensington and Chelsea, where the average property near to one of the John Lewis Partnership supermarkets comes out as £2.6m, and prices grew at five per cent.

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