A report out last week suggests that living near a Waitrose or an M&S can significantly boost your home’s value, by around 12 per cent if the Lloyds Bank study is to be believed.
This got me thinking: How close does one have to live to these supermarkets to get the benefit?
As a Moreton Hall homeowner, would my house fall into the bracket, given I am 2.4 miles from the former supermarket and 2.2 miles from the latter.
And does the mini M&S, at the Haberden petrol station, count? Because at 1.6 miles away my home is just that little bit closer.
Apparently, living near a Sainsbury’s is also a property value plus, with homes typically worth 10 per cent more. With my house a 0.9-mile walk away from the Bedingfeld Way shop (yes, I put all of these into a route planner to get such accurate distances) I think I may be on to a winner.
But what is it about living near one of the above supermarkets that is seen as such a bonus, when a nearby Aldi or Lidl could knock thousands off a home’s value?
I think I might have an answer. On Thursday I popped into M&S after work to see if there were any reduced bargains (I admit to being one of those lurkers who occasionally appear towards the end of the day).
What I really wanted was some nice bread to go with houmous already in my fridge. I walked out with the bread, pain au chocolat, a chocolate twist and a pink orchid in a pretty ceramic pot, having spent the grand total of £6.10. I did not need three of the above purchases, however was persuaded by the very friendly staff. I was served with a smile at the till and offered a special bag for my plant, while another shop assistant helped me to bag my purchases. Every interaction was personal and I walked out feeling pleased and a bit special.
So, I don’t know about my home’s value being increased by 12 per cent as a result of M&S, but I can safely say five minutes in the Bury shop boosted my day’s happiness quota by at least that.