Following a study by Lloyds Bank, it would seem that the proximity of your home to a particular supermarket could materially affect the price that people will pay for the property.
The study found that properties within ‘easy reach’ of a Waitrose store can be sold for approximately 12 percent more than other homes in the same area, and that a nearby Sainsbury’s can help to raise the asking price by almost 10 percent. Unfortunately for those who live near a Lidl or an Aldi, the study found that this could actually reduce the value of the property.
Perhaps more realistically, the key factors that affect the value of property are the demographics of a particular area and the level of current demand for property in that area. This demand can be dictated by numerous factors, such as interest rates and the state of the economy.
These in turn are determined by government policy and current legislation, meaning that the result of the General Election in May could have a significantly stronger impact on the housing market and house prices generally than the expansion of your favourite local supermarket.