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The Waitrose effect

Posted by Mike Carey on 29th March 2016
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We all know that properties near good schools can command higher than average prices – but 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, according to new research. 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. WaitroseMAIN.jpg As evidence, the research 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. 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.

Our Marriotts office in Faringdon is now back open and we are able to carry out valuations, viewings and site meetings by appointment, following strict government guidelines for the safety and protection of all parties.  Interest in properties has remained high throughout the shutdown, and we now find there is even more interest in both residential and commercial sales and lettings.

 

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