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Living within a short distance of a supermarket is often high on people’s priority list when it comes to looking where to live. However, on tonight’s episode of M&S vs Waitrose: Which Is Better Value?, the programme explored how living near upmarket Waitrose could actually cost buyers more.
Estate agent Keith Rogan visited an upmarket area within Kent to see if living near a Waitrose could boost property value.
Visiting a flat that was a fair distance away from any Waitrose, and located on the beach, the estate agent said: “So clearly this is the unique selling feature of this property and there will be a price premium for this stunning view.
“The value of this beautiful unit is £395,000.”
Viewing a property of similar size within a short walk from a Waitrose, the home also had two bedrooms and two bathrooms.
One person said: “How did I not know this was a thing? Does that mean if you live near a budget supermarket the property prices decrease?”
Another wrote: “Wow, I don’t even think you get better quality food at Waitrose.”
“I totally get this, Waitrose’s are usually located in more upmarket areas,” tweeted a third.
However, living near a Whole Foods Market is said to boost property value even more than living near a Waitrose.
One study by GetAgent found that homes within the wider postcode area of a Whole Foods Market store sold for an average of £969,188, which is around £700,000 higher than the average home in the UK.
This may be down to the fact that they seem to be situated in central locations such as London where property prices are generally higher.
Founder and CEO of GetAgent.co.uk, Colby Short, said: “There’s a new sheriff in town when it comes to the supermarket house price sweep and that’s Whole Foods, with house prices surrounding Whole Foods stores coming in far higher than even Waitrose.
“Of course, the more ‘prestige’ the supermarket, the more likely it is to be located in a wealthy pocket of the UK property market, although some may be surprised to see Budgens ranking above the likes of Marks and Spencer and Sainsbury’s.”
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