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Nothing beats the luxury of being able to walk to the shops for a pack of biscuits during an ad break and not miss any of your favourite show. Other than making our 9 pm biscuit dreams come true, buying near a supermarket could have a surprising effect on your house price.
Research by WeBuyAnyHome has revealed that living near some of the UK’s favourite supermarkets could boost the value of a house. The study found a pattern between average house prices and the density of supermarkets.
However, surprisingly it was homes near one of the UK’s favourite discount supermarket chains that attracted the highest premiums on the property. The study showed that the areas with the highest house prices were those with the highest density of Asda’s.
The chain is best known for offering value for money and low prices. However, it was found to be in the highest density in some of the most affluent places in the UK, such as Elmbridge, Mole Valley, Epsom and Windsor.
House prices in these areas generally range between £467,500 and £575,000. However, everyone loves to nab a bargain packet of chocolate digestives no matter what your house price.
If you’d also like to pick up a bargain when looking for a new home, consider looking near Sainsbury’s or Tesco.
‘If you’re wanting to invest in property in the west of the UK, you’ll bag a bargain by investing near a Tesco and Sainsbury’s,’ says a spokesperson as WeBuyAnyHome.
‘House prices are amongst the lowest in the UK with prices in the region of £86,000 and £117,000,’ they add.
These results haven’t focused on house prices in London. However, in London house prices are unsurprisingly found to be highest near Waitrose. This phenomenon has been nicknamed the ‘Waitrose effect.’
However, sadly not of all of us can afford to shop in Waitrose, let alone invest in a property near one.
Next time your house hunting consider snooping around the local supermarkets. If you spy an Asda you could be on track to make a tidy profit on your new home.