Leading online estate agent, eMoov.co.uk, has released research into the Waitrose effect on house prices surrounding each of the supermarket’s 300+ UK stores. eMoov’s research found property surrounding Waitrose stores costs £456,000 on average, more than double that of the UK overall (£221,254), having increased 7% over the last year.
Because of this, we asked UK Homeowners if they believed a Waitrose supermarket added value to the price of a property.
Vicky , 39 – Gillingham
“Yes, I do think Waitrose increases surrounding property value, without a doubt, even if it’s a little one.There’s one near to my office where I work, and the housing estate that it sits in, the minimum price of aproperty is about 350,000, and that’s just for a sort of a normal three bedroom house. So, I think putting a Waitrose in definitely rises the cost of property, and it would put me off buying a property if I knew there was that there, because I would have thought that it’s quite an upmarket area because they’ve got a Waitrose in there, so the properties would be a lot higher than what they normally would be if a Waitrose wasn’t there.”
Aaron , 31 – Rhyl
“I don’t have any evidence for this but I do believe that a Waitrose would increase property value in the surrounding area. I really like Waitrose, they are my favorite supermarket chain because they accept market, because of the quality, and because the sort of clientele you interact with when you do go into Waitrose store if I’m really honest. So I live quite close to an Asda, so when I forget things, it’s not my shop of choice, but when I do forget things, like milk or toilet roll, etc. I do pop to the Asda for convenience and every time me and my partner we have a bit of a giggle and a joke because I always come back complaining about the clientele and the sort of general sort of appeal of Asda. I do work in the supermarket sector myself; I do consider Asda to be towards the bottom of the chain, whereas I work very mid-market.So in summary, Waitrose is definitely improved.”
David , 34 – Aberdeen
“I think having a Waitrose in your, close to your property will actually increase the value. Because numberone, Waitrose is a very highly respected store and having that facility close to your property would actuallybe a very good advantage. Even for an identical property that doesn’t have one, I think it will definitelyincrease the value because number one, you could get a lot of good products from there and if it’s inwalking distance, I think it’s even a better selling point for prospective buyers. And generally mostly otherstores, having a department store close to your house is a very good selling point because thatconvenience is very priceless. You can walk down, take a stroll down to the store and have something thatyou need. Thank you.”
Hepzi , 48 – Wokingham
“I think having a Waitrose near your house does, in fact, increase its value. I live very close to a Waitrose store, and I just think there’s a certain class of people that shop there, and some people say they would never shop in Waitrose because it’s too expensive, and I know that there are areas such as Bristol that don’t contain a Waitrose, and I think the company targets sort of more well-to-do areas for that reason, because they know they attract that custom. So, yes, I think having a Waitrose does increase your property value.”
Andrew , 55 – Manchester
“I think actually it would have a positive effect. I mean, Waitrose is they’re not everywhere are they like a Lidlor an Aldi? People like the kudos of having a Waitrose, it’s a bit of a status symbol. So, I don’t think it wouldhave a massive effect on property values but I can see them having an incremental value. Some people would actually love to have one nearby. So, that’s a bit of some value isn’t there, a local Waitrose. So yeah, Ido believe so.”
Ashley , 40 – London
“So does adding a Waitrose increase property prices around the area? I think Waitrose is considered one ofthe higher level supermarkets, up their with perhaps M&S and being from an area that wanted a Waitrose, which is quite an affluent area, I would say that it does definitely bring a boost of perhaps reputation and property price. Where as that of perhaps another supermarket, of Lidl for example, but yeah, I have to say Ithink perhaps a little bit unfortunately, a Waitrose would definitely add value to property prices in an area.”