The “Waitrose Effect”: How Nearby Supermarkets Can Boost Your Property’s Value
In the world of property, location is everything. But it is not just transport links and school catchments that drive demand, proximity to a popular supermarket can also increase a home’s value. This phenomenon is often called “The Waitrose Effect.”
What Is the Waitrose Effect?
The term “Waitrose Effect” refers to the idea that homes located near premium supermarkets such as Waitrose tend to achieve higher selling prices than comparable properties elsewhere. The name came about after a number of studies showed that living close to certain supermarket chains can correlate with higher house prices.
The Numbers Behind It
Research from Lloyds Bank and various property analysts has repeatedly highlighted this trend. In one widely cited study, homes near a Waitrose were valued on average £30,000–£40,000 more than similar homes further away. Other upmarket chains such as Marks & Spencer also show a positive effect, while budget stores typically show a smaller uplift.
Why Does It Happen?
There are a few reasons why proximity to a supermarket can boost property values:
Convenience: Buyers and tenants like having quality shopping within walking distance.
Demographics: Premium supermarkets often choose affluent, stable areas, which in turn attract buyers prepared to pay more.
Perception: A Waitrose or M&S signals a desirable neighbourhood with good amenities.
What This Means for Sellers and Landlords
If your property is within a short distance of a Waitrose, M&S or similar, it is worth highlighting this in your marketing materials. Buyers and tenants will see it as a lifestyle benefit. Landlords may also command slightly higher rents by promoting proximity to premium supermarkets.
Marketing Tip from Woodstead Sales & Lettings
When we market a property, we do not just focus on the bricks and mortar. We also showcase the lifestyle advantages of the location, including nearby shops, cafes and transport. If your home benefits from the Waitrose Effect, we will make sure potential buyers or tenants know about it.