With the recent opening of the Sainsbury's Local on Walton Road in Molesey, we looked into whether or not this would have an effect on local house prices.
Research conducted by Lloyds Banking Group earlier this year found that the price of a property within easy reach of a supermarket, is on average 7% higher than comparable properties within the same town.
You may not be too surprised to hear that the brand of supermarket also comes into play with Waitrose scoring the highest percentage premium at 12%, Sainsbury's at 10% and Tesco's at 8%. Having an Aldi or Lidl close by may actually have a negative effect on the value of your home of around 2-3%.
The effects of local supermarkets really do vary from region to region but in monetary terms, houses within walking distance of a supermarket command an average premium of just over £15,000. Needless to say, this local convenience is high on the shopping list for potential buyers!
If you live close by to the new Sainsbury's on Walton Road in Molesey and would like an up to date valuation of your home. Please feel free to get in touch on 0208 396 6717, email firstname.lastname@example.org or send us an enquiry.