A latest research has revealed that houses located close to a supermarket in London enjoy quicker appreciation in capital values when compared to other residential properties. The data released by Lloyds Bank found out that homes within easy reach of a local supermarket are, on average, £21,512 higher than in nearby areas.
For example, the average price for properties within easy reach of a Waitrose is typically £36,480 higher than the wider town average (£429,118 versus £392,939). Those living close to a Marks and Spencer have the second highest premium, with properties worth an average of £29,992 more than homes further away, followed by Sainsbury’s (£26,081) and even discount chains like Iceland (£22,767) command a strong premium. Homes within easy reach of all four supermarket chains are trading at an average premium of 9 per cent.
“With homes in areas close to major supermarkets commanding a premium of £22,000, the convenience of doing weekly shopping within easy reach may well be a pull for many homebuyers looking for good access to local amenities,” the bank said in its research report. There are several advantages and personal gains for house-buyers with property near a supermarket.
Sky Gardens – a prestigious development by Strawberry Star in Nine Elms in London is at a striking distance from Sainsbury’s. If you are interested in buying an apartment in Sky Gardens, contact our property consultants at our London office.
Properties in areas with a Waitrose, Marks and Spencer, Sainsbury’s or Iceland are most likely to command a higher house price premium when compared to the wider town average