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Why living near a supermarket could be a canny investment

Stonefall Grange, Wetherby Road, Harrogate - �795,000 with Lister Haigh, 01423 730700.
Stonefall Grange, Wetherby Road, Harrogate - �795,000 with Lister Haigh, 01423 730700.

The phrase “close to local amenities” is open to interpretation, but it seems that one thing we do like to live near is a supermarket.

A new YouGov survey to find out what our ideal high street looks like has found that 75 per cent of us think it should have a supermarket.

19c Victoria Avenue, Harrogate - �475,000 with Verity Frearson, 01423 562531.

19c Victoria Avenue, Harrogate - �475,000 with Verity Frearson, 01423 562531.

What’s more, recent research from Lloyds Bank has found that living near a supermarket can push up a property’s value by £21,500 compared with homes that aren’t near one.

Having a premium brand – like Waitrose, Marks & Spencer or Sainsbury’s – on the doorstep means buyers typically need to pay top prices. The so-called “Waitrose effect” commands the biggest premium – £43,571 (12 per cent) more than average house prices in the wider town (£420,112 v. £376,540). This is followed by properties close to a Marks & Spencer (£40,135) and Sainsbury’s (£32,707).

Homes close to a Tesco, the UK’s largest supermarket, are also worth over £21,000 (£21,369) more than other properties in the nearby area (£278,647 v. £257,278); closely followed by Co-Op (£21,020) and Iceland (£17,445) stores.

Interestingly, smaller local stores like a Little Waitrose, Sainsbury’s Local or Tesco Extra attract a higher average premium of £58,109 compared with a larger superstore (11 per cent, or £30,580).

21-25 Stonebridgegate, Ripon - �300,000, Sherringtons, 01765 604343.

21-25 Stonebridgegate, Ripon - �300,000, Sherringtons, 01765 604343.

But it’s homes near to budget supermarkets which were found to have seen the biggest house price rise: properties near to Lidl, Aldi, Morrisons and Asda have increased 15 per cent (£29,316) over the past four years; the average across all supermarkets is 10 per cent.

If convenience is important to you and you want to live near a supermarket, there are plenty of properties for sale in our area to choose from. The following are three of the best.

Stonefall Grange is a detached family home just over the road from Sainsbury’s in Harrogate. It has a very regular floorplan, with first and second floors divided roughly into quarters.

Upstairs there is a bathroom and six bedrooms – four of similar size plus a small one which could be used as a study and another on the second floor.

Downstairs there is a kitchen, dining room and two other reception rooms, plus pantry, boiler room and shower room, with a cellar below.

The property includes the detached Coach House, which has been used as a two-bedroom holiday cottage. The sellers are happy to discuss income generated from this on viewing.

Outside, there are gardens to three sides plus parking for several vehicles.

In central Harrogate, 19c Victoria Avenue is a first-floor flat just across the road from Waitrose. It has two double bedrooms, one of them en suite, plus bathroom, kitchen, living room with bay window, plus a dining room which could be used as a third bedroom. It also has a single garage and parking, and permit parking is available on-street.

Finally, 21-25 Stonebridgegate in central Ripon was originally three terraced cottages, and could be again with the relevant planning permissions.

The property, which has four bedrooms, is also just opposite the Aldi supermarket, which was opened in 2016 by Ripon’s Olympic gold medal-winning diver Jack Laugher.