{"id":3535,"date":"2022-05-31T09:42:25","date_gmt":"2022-05-31T09:42:25","guid":{"rendered":"https:\/\/www.yopa.co.uk\/homeowners-hub\/?p=3535"},"modified":"2022-05-31T09:48:08","modified_gmt":"2022-05-31T09:48:08","slug":"does-having-a-waitrose-nearby-really-increase-the-value-of-your-home","status":"publish","type":"post","link":"https:\/\/dy36.stage.yopa-dev.co.uk\/homeowners-hub\/does-having-a-waitrose-nearby-really-increase-the-value-of-your-home\/","title":{"rendered":"Does having a Waitrose nearby really increase the value of your home?"},"content":{"rendered":"\n

When you are\nlooking to invest in a new property, there are many amenities that can really\nadd value to your prospective home. Whether it be great local schools, a\npopular gym, an upmarket gastro pub, or those all-important transport links,\nthey don\u2019t call it location, location, location<\/em> for nothing!<\/p>\n\n\n\n

Whilst living near a supermarket is handy for getting that last minute pint of milk or loaf of bread, in the twenty-tens, the \u201cWaitrose effect\u201d was also widely believed to add a considerable amount to house prices as well. Indeed, properties located within walking distance from a Waitrose supermarket were, more often than not, able to achieve higher selling prices than equivalent properties elsewhere, sometimes by up to 25% and even higher in London. This impact on house prices was also seen to a lesser extent in the prices achieved by properties located near to other popular supermarkets such as M&S Food and Sainsburys, particularly with the rise in popularity of local \u2018express\u2019 versions of the larger out of town supermarkets. In 2017, Lloyd\u2019s Bank found that living near a Waitrose store could add over \u00a336,000 to your property price, and proximity to other national supermarkets could add an impressive \u00a322,000 to the value of your home<\/a>. <\/p>\n\n\n\n

But is the \u2018Waitrose effect\u2019 still happening today? <\/p>\n\n\n\n

\"\"
Source: A P Monblat under the <\/em>CC BY-SA 3.0 license<\/em><\/a>.<\/em><\/figcaption><\/figure>\n\n\n\n

In 2020, due in no small part to the struggles of the pandemic, Waitrose had to close<\/a> a number of stores across the UK. That same year, the upmarket supermarket was knocked off the top spot of the 13 supermarkets and grocers with the biggest impact on house prices by American supermarket chain Whole Foods Market<\/a> according to the estate agent comparison website GetAgent.co.uk. <\/p>\n\n\n\n

Although this\nmay also have been down to the fact that all seven Whole Food Market stores are\nlocated in the pricey capital, with all but one (Richmond) located within Zone\n2 in expensive areas such as Kensington and Piccadilly Circus. The significant\nrise in popularity for relocating out of towns and cities to less urban\nlocations during the Covid pandemic has also no doubt played a part. <\/p>\n\n\n\n

Indeed, according\nto the \u201chomemover and buyhavioural <\/em>(see what they did there!) property\ndata agency\u201d TwentyCi<\/a>, homes located further from a Waitrose in\nmore rural areas have seen an average house price growth of around 23% over the\nlast three years, versus 16% growth for those in closer proximity. <\/p>\n\n\n\n

This may also\naccount for the more middle of the road, small supermarket chain Budgens\njumping to third on the list of the supermarket league table in 2020 ahead of\nM&S and Sainsburys, with an average local house price of around \u00a3430,000. <\/p>\n\n\n\n

Of course,\ncritics of the \u2018Waitrose effect\u2019 would also point out that the locations which\nare chosen for a Waitrose store (or Whole Foods for that matter) are already\ngoing to be more expensive overall anyway, as more affluent homeowners would be\ntheir target audience. They may have a point. According to TwentyCi, in the\nfirst quarter of 2021 the average price for properties within a half-a-mile\nwalk from a Waitrose store was \u00a3599,000 in comparison to \u00a3243,000 on average for\nhomes which were within a 10 \u2013 20-mile radius of a Waitrose.<\/p>\n\n\n\n

If your budget\ndoesn\u2019t stretch quite that far though, it is also useful to be aware that homes\nwithin the same postcode area as any one of the big name supermarkets mentioned\nabove, plus Tesco, Co-op, Lidl, Morrisons, Iceland and Londis were valued on\naverage at \u00a3308,704 in February 2020, an impressive 34 per cent higher than the\naverage UK house price at the time, which was \u00a3230,332<\/a>. Only properties within close proximity\nto supermarkets Aldi and Asda saw an average value of less than the UK average.<\/p>\n\n\n

\n
\n \n
\n
\n \"\" <\/div>\n
\n
\n Instant online valuation<\/span> <\/div>\n
\n

Get a rough estimate of your home's value now.<\/p> <\/div>\n <\/div>\n<\/div>\n <\/a>\n <\/div>\n

\n \n
\n
\n \"\" <\/div>\n
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\n Face-to-face valuation<\/span> <\/div>\n
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Book an appointment with your local Yopa agent.<\/p> <\/div>\n <\/div>\n<\/div>\n <\/a>\n <\/div>\n<\/div>\n\n\n\n\n

So, for savvy\nhomebuyers\u2019 keen to make the most of their money and take advantage of the\n\u2018Waitrose effect\u2019, an up-and-coming area with plans for development which are\nlikely to include an upmarket supermarket or retailer like Waitrose and its\nsibling company John Lewis will always be on the money when it comes to\nchoosing a new home, whether it is a forever home or a canny investment\nopportunity. Particularly given the current cost of living crisis where every\npenny counts.<\/p>\n\n\n\n

If you are looking to buy a new property in the near future, it certainly pays to keep an eye on development plans<\/a> in your preferred areas. For more information, head to your local council<\/a> website. <\/p>\n","protected":false},"excerpt":{"rendered":"

When you are looking to invest in a new property, there are many amenities that can really add value to your prospective home. Whether it be great local schools, a popular gym, an upmarket gastro pub, or those all-important transport links, they don\u2019t call it location, location, location for nothing! Whilst living near a supermarket<\/p>\n","protected":false},"author":4,"featured_media":3536,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research"],"acf":[],"yoast_head":"\nDoes having a Waitrose nearby increase the value of your home? - Yopa<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dy36.stage.yopa-dev.co.uk\/homeowners-hub\/does-having-a-waitrose-nearby-really-increase-the-value-of-your-home\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Does having a Waitrose nearby increase the value of your home? - Yopa\" \/>\n<meta property=\"og:description\" content=\"When you are looking to invest in a new property, there are many amenities that can really add value to your prospective home. 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